Melbourne-based new car research site The Beep shares hybrid vehicle market data, with the number of models on offer skyrocketing since the beginning of 2023 – now accounting for 15.4 percent of models available.
“The early adopters have jumped headfirst into EVs and in most cases they work fine for them,” said The Beep Co-founder, Robert Leigh.
“For the rest of the market, there’s still a lot of perceived risk and general inconvenience living with an EV. Hybrids then become the logical choice and the number of models appearing are a clear sign of hybrid popularity.”
The Beep provided Fleet Auto News with data that outlines the number of hybrid models went from 122 at the beginning of 2023 (9.9 percent of the offerings in the market) to 195 today (15.4 percent of the offerings in the market).
Of the 195 hybrid models currently available, a whopping 20 percent are made by Toyota with no less than 40 options wearing the badge. This comes just months after Toyota became the first manufacturer to top 10,000 hybrid sales in a month back in April.
By the middle of 2024, Toyota had reported sales of more than 100,000 hybrid vehicles in the 12 months to June 30 – with hybrid and electrified vehicles now accounting for 47.3 per cent of all Toyota sales.
Below Toyota with its total of 40 hybrid models is its luxury arm, Lexus, which offers 27 hybrid models and Hyundai, Land Rover and Porsche trail all offering 13 models.
According to The Beep data, the average drive-away price of a hybrid in Australia is $103,721, against the petrol average of $95,392 and battery-electric average of $117,332.
Despite the high average hybrid model price, there are many affordable models and the top five most affordable models right now are:
- Suzuki Swift Hybrid $24,490
- MG3 Excite Hybrid+ $28,490
- GWM Haval Jolion Premium Hybrid $31,990
- Toyota Yaris Ascent Sport $32,674
- Hyundai i30 Sedan Hybrid $35,990
“The average hybrid price is largely affected by premium European options, but there are sub-$40,000 and even sub-$30,000 options in the market,” said Mr Leigh.
“Even Toyota has an option for less than $35,000, with the Yaris Ascent Sport coming in at $32,674.
“As the hybrid market continues to grow, we expect the average price will continue to drop.”
The Beep offers free data that allows users to track market trends and compare more than 1,000 new car models. Users can compare specifications across models, looking at engine and drivetrain details, performance metrics, fuel consumption figures, electric range capabilities, ANCAP safety ratings and of course pricing data.
Users can filter by body style, price range or fuel type to track pricing data like drive-away price, high and low points and fluctuations, across 40 brands and more than 1000 models.
