How many more years will Hybrids hold their value?

Just a question about Hybrids. How many years do you think Hybrids will hold value and be needed before all the auto manufactures fully transition to EV? It seems like in the States, we’re fast tracking to EVs in the coming few years instead of hybridizing every car first. Personally I feel Hybrids have a place and still have value in today market as they did when the Prius first came out and feel they should still hold value in the coming years before EVs are a mainstay and are affordable to all incomes. What are your thoughts?

I had a Prius for a couple years; a 2013 Prius V wagon and I loved that car but it was getting up there in miles and the size of that car no longer suited my needs. So I traded it in for a Scion iM; which was a Corolla in hatchback form. Now I’ve got a family, I moved to an area where snow gets significantly deep; 18-22 inches this past winter. And a fresh off a lease 2018 RAV4 Hybrid came onto the Toyota dealer lot as I was looking over a 2019 AWD Prius. I test drove both and I was won with the RAV4 between its size; ground clearance and features.

But here I am nearly 6 months later and I’m wondering if I made the right decision with my purchase because every where I go; super markets, parks, beaches, libraries, town halls…EV charging stations are popping up and I’m seeing Tesla’s everywhere. But I see way more 4th and 5th Gen Rav4s hybrids to the point I lose count. I’m overall satisfied with my RAV4. both and I was won with the RAV4 between its size; ground clearance and features.

But here I am nearly 6 months later and I’m wondering if I made the right decision with my purchase because every where I go; super markets, parks, beaches, libraries, town halls…EV charging stations are popping up and I’m seeing Tesla’s everywhere. But I see way more 4th and 5th Gen Rav4s hybrids to the point I lose count. I’m overall satisfied with my RAV4.

 

I believe you are right. But my question is how much longer before that happens? I do believe it will be a slow transition but ramp up in a few years, by 2025-2028 I think more electrified/hybrid/plug in cars will be on the road more than traditional gas. In Boston at least, they are in the process of phasing out all diesel power school buses to EVs and public transit in Boston has the Train (The T as we call it) is already will be transitioning to electric in the couple years. I know overseas, many cities have hydrogen buses and trains in their fleets. Think its only a matter of time before that happens in the cities in the US. Even now just driving through Boston and even Providence, I see so many hybrid taxi's driving around.

 

Good point about those who can afford to do so have already done so. The amount of Hybrids in my area vastly outnumber the amount of EVs and Plug in Hybrids. But I'm not sure if that's due to the availability issue because of the chip shortage or not.

I know myself and most middle class and lower income people in my area have to work 2 or more jobs just to be able to afford the rent/mortgage and other bills. Even at the hospital I work at, the nurses and doctors drive older vehicles. Very seldom I see brand new cars out in the parking lot unless its some hot shot doctor from Boston who drives a $100,000 sports car, lol.

For me; I'd say its going to be maybe a 15 years or so if not more before I'm in my 2nd or 3rd EV. I never bought a new car in my life and unless an insanely good deal falls on my lap, I don't ever see myself owning a new car, especially with the depreciation new cars lose when driving off the lot.

 

Oh that still blows my mind how low MPG gassers are still being sold and people still cry and complain how much they spend at the pump. Work trucks and people who have more than 5 kids, I can understand the need of needing a bigger vehicle. But for the majority of Americans, we spend more time alone in our cars commuting to work, to the grocery store than we do having the car full to capacity. Maybe I'm the ignorant one, but I still believe we need to hybridize all cars first to get people use to the idea of what driving an EV is like, even on a small margin. I still get approached and asked a ton of questions about hybrids work, where I plug mine in and so on. And the misconception that Hybrid batteries are not reliable

 

Kind of a grim outlook, lol. Gas models most definitely will be stopped by 2035 but I doubt Hybrids will be stopped.

 

Its a possibly especially with inflation happening and wages are not going up with inflation. I can't imagine what people will be doing who can't afford it who live in rural areas like out in the midwest. I know for cities at least and even suburbs have an decent public transit but even public transit is starting to increase at a slow rate. Some public transit is going completely digital with paying which alot of the older less tech savy generation are upset about. Was watching the news last night and Fenway Park where the Red Sox play; the food vendors are going digital this season and are doing cards only with no cash option. So many older folk are legit pissed off over it. I can't imagine that same type of people accepting similar change with public transit. I work at a hospital where the majority of the locals are seniors and some of them rely on public transport and we often have to use our own funds to pay for an Uber because they don't have smart phones.

I could be wrong but I believe I read a few articles of the break down of that bill where its strictly gasoline cars are to be stopped from production. That the bill is enforcing automakers to produce electrified vehicles, which Hybrids do count as being electrified. Since the basics is the hybrid battery can operate at low speeds without the gas engine being on until the battery has been depleted enough for the engine to kick back on. And of course; while the car idles, the car's engine can be off during those time frames. Basically how all hybrids tend to work.

The look/sameness of anything outside the Prius is a huge selling point for most American's I think. The general conscious is that driving a Prius is dorky and lame and the look is polarizing. But then you have the Corolla, Camry, Avalon, Rav4, Venza, Highlander and soon the Corolla Cross, all normal looking hybrids that scream, hey look at me! Personally I always admired the look of the Prius.

Toyota has the track record because of the Prius thats proven how reliable the hybrid batteries are. Most people won't do it, but even a simple google search can attest how reliable the hybrid batteries have been; especially in Taxi fleets. The RAV4 Prime is in such high demand, you literally can't find any on the lots without special ordering them in my area. I'm guessing thats why more and more 4th gen Rav4 hybrids and 5th gen Hybrids are popping up everywhere. In my work parking lot alone, on a normal day I'd see at least over a dozen 4th and 5th gen RAV4 hybrids with a handful of Prius (Pri)

After the sales of the Yaris wasn't justifying Toyota to continue the shipping them to the US. I don't see Toyota ever bringing it back or bringing any car smaller than the Corolla. It comes down to price and size; where you can get a base priced Corolla for around $20,000 or get a used one for $15,000 and not have to give up any comforts of going into a smaller car. Think Toyota knows their customers well and that's why they axed the Yaris. Which is ashamed because they are still many people who appreciate the Yaris for its size and ease to drive. Especially with the broke teens/college kids and elderly people.

 

I wasn't counting the mild hybrids. Maybe its my ignorance but I don't count mild hybrids to be true hybrids because the gas engine still runs with the assistance from battery. But yes, Ford does pay fees towards Toyota for their hybrid system. The Ford Maverick virtually has an identical set up as a Prius. And Ford has been using Toyota's hybrid system for nearly a decade for their hybridized vehicles. Same goes with Subaru with their plug in hybrid Crosstrek. Which makes sense considering Toyota own's about 20% of Subaru. I'm sure sooner or later, Mazda will be hybridizing their line up soon. They already have a short range EV that's rolling out soon.