Why Plug-in Hybrids are Declining in Sales
- Higher price Point: Plug-in hybrids are more expensive than their hybrid and electric counterparts, which can be a barrier to adoption. The average transaction price for a PHEV in the compact SUV category is $48,700, while compact hybrid crossovers are $37,700, and compact BEVs are $36,900.
- Limited Range: Plug-in hybrids have a limited electric range, which can be a concern for consumers who want to know exactly how far they can go on a full charge. This limited range can make it difficult for consumers to rely on their PHEV as their primary mode of transportation.