Fuel Savings
The biggest shock to the global automotive industry in recent memory has been the sudden, rapid rise in fuel prices. Buyers have also begun to switch mindsets; once reluctant to jump into hybrids, people are now actively looking for them, and they’ve become the go-to choice for most new car buyers.
The trend seems set to continue, with news that major automakers across the U.S. are stockpiling fast-selling hybrids as demand increases.
Cole Attisha
Hybrids > Everything Else
Automotive News published a report supporting the current upward trend in U.S. hybrid sales. The report noted that this September saw a 40,000-vehicle increase in vehicle inventory compared to the same period last year. Sales have also been faster, with current inventories averaging 73 days’ supply, down 5 days from early August and 3 weeks from last year’s average, according to data from Catalyst IQ.
The report also states that hybrids are the fastest-selling powertrains on the market today. That marks the 5th consecutive month they’ve been the go-to powertrain option for buyers. Hybrids account for the lowest supply days, at just 64 in total; however, brands are continuing to expand their hybrid inventory, especially over the last month.
Toyota
SUVs and Crossovers
EVs have also enjoyed renewed popularity with buyers, with days’ supply down 20% to just 72 days. With the nation dealing with record-high diesel prices, supply days’ inventory of diesel-powered cars rose to 114 days.
The report also indicated that midsize SUVs and crossovers had the highest supply, with over 600,000 vehicles on hand. The U.S. second-most in-supply vehicle class is the full-size pickup, with 358,000 vehicles in stock. The top brands with increased sales and fewer supply days are Toyota Motor, Honda Motor, Subaru, and Hyundai.
Ford
