Ford CEO touts hybrids as EV alternative — 38% of Americans agree according to study

The electric vehicle market is still in something of a sorry state, with slowing sales and growing inventory resulting in steep price cuts and an inevitable race to the bottom. There are a number of factors that likely contribute to slowing EV sales, but it appears as though Ford's CEO, Jim Farley, along with the American people see hybrids as viable alternatives. Although Farley seems to think mild hybrids — also known as range-extender hybrids — are a better long-term bet than PHEVs (plug-in hybrid electric vehicles).

Talking at a recent Bernstein conference (via Reuters), Ford's CEO expressed that PHEVs may be irrelevant in a few years, going further to say that “extended-range hybrids” are “an important technology for the industry's future.”

Meanwhile, the 2024 KPMG American Perspectives Survey, which surveyed 1,500 US residents from varying states, found that as many as 34% of respondents — or 43% on the US West Coast — would consider a hybrid vehicle, while 38% wanted to buy a traditional ICE car. Only 21% of the respondents preferred electric vehicles, while only 3% were indifferent. The study, however, doesn't distinguish between different types of hybrids, as Ford's CEO does. Given the survey respondents' general preference for sub-20-minute EV charging times, it wouldn't be surprising to learn that PHEVs are not the preferred EV flavour of most.

If an electric vehicle, standard gas-powered vehicle, and hybrid all cost the same amount and have the same features, which type of vehicle would you prefer to purchase?

Keep in mind that the survey in question had respondents consider vehicles that were of the same price, which is currently not the reality in most situations, although everyone from Jeep to General Motors, and even Ford currently have their ideas of an affordable EV in the works. This, combined with the recent pressure from Chinese EV brands, is likely to significantly drop EV prices int he coming years.