Hybrid Cars Surge in Popularity in China: An Economical Alternative Amid EV Range Anxiety

Affordable and effective, hybrid vehicles are becoming more popular in China as Electric Vehicles cause worries about driving distance. Hybrid vehicles accounted for 45.1% of all EV sales in mainland China in July, a significant increase from 34.3% the previous year, based on industry statistics.

Hybrid vehicles, capable of operating on battery power for short trips and utilizing fuel for extended journeys, now make up nearly half of all new electric vehicle sales this year. Numerous manufacturers are escalating their development and production efforts to satisfy the increasing demand.

In July, BYD, Volkswagen, Toyota and other companies sold 396,000 hybrid vehicles to customers in mainland China, constituting 45.1% of all electric vehicle deliveries, as stated by the China Passenger Car Association (CPCA). This is a rise from last year's 34.3% in the same period.

"Hybrid vehicles are more cost-efficient for numerous young individuals purchasing their first car," stated Zhao Zhen, a sales manager at Wan Zhuo Auto, a dealership based in Shanghai. "They are unexpectedly profiting from a slowing economy."

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Chinese electric vehicle manufacturer Xpeng has introduced affordable car models priced below $17,000.

Official data indicates that due to the aftermath of the pandemic, retail sales in China have seen minimal growth as Chinese shoppers are spending more conservatively. The ongoing downward trend in housing and increased unemployment has led many to prioritize paying off their mortgages early, thereby reducing their debts instead of increasing their expenditure.