Hybrid electric vehicle sales experienced rapid growth in 2023 increasing by 53% from 2022, reaching a new high of nearly 1.2 million vehicles sold.
May 20, 2024
minute read time
Hybrid electric vehicle sales experienced rapid growth in 2023 increasing by 53% from 2022, reaching a new high of nearly 1.2 million vehicles sold. Hybrid electric vehicles are fueled with gasoline and have a battery for capturing and reusing energy that would otherwise be lost through braking, giving them better fuel economy and lower emissions than conventional vehicles. Sales of fuel-efficient vehicles reduce U.S. transportation fuel consumption and emissions and have a positive impact on consumer fuel savings. Along with plug-in electric vehicles, hybrid electric vehicles provide options to automakers and drivers as the United States moves towards decarbonization.
Note: Does not include plug-in hybrid electric vehicles.
Source: Argonne National Laboratory, Light Duty Electric Drive Vehicles Monthly Sales Update.