Sales of hybrid vehicles are up 88% – is it time to trade-in your petrol car?

AutoExec Summary

Australian consumers are increasingly turning to hybrid power as a solution to rising fuel costs, with hybrid vehicle sales seeing a significant increase in July 2024 compared to the same time last year. Petrol sales have decreased, while diesel and PHEV sales have seen slight increases. The shift towards hybrid vehicles is evident in the year-to-date sales numbers, with a decline in petrol vehicle sales and a significant increase in hybrid vehicle sales across passenger, SUV, and LCV segments.

Brands mentioned: Toyota, Ford, Tesla, Polestar.