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Hybrid vehicles (HVs) are gaining popularity in the US. The number of HVs sold in February grew by more than 50% year-on-year, and sales incentives that Toyota and Honda, leading HV manufacturers, pay dealers are less than the industry average. However, auto manufacturers that have focused on HVs, such as General Motors (GM) and Tesla, are paying significant incentives. Whether or not the manufacturer makes HVs decides the trend of sales incentives, and can affect the profitability of each company.

Hybrid vehicles (HVs) sales are growing in the US, thanks to improved efficiency and affordability. Toyota and Honda sell HVs without many discounts, but automakers with no HV models are paying hefty sales incentives. HV sales are expected to remain strong, but they must compete against electric vehicles.

Hybrid vehicles (HVs) are becoming more popular in the US. According to the Motor Intelligence, the number of HVs sold in February was approximately 106,000, up 54% year-on-year, and the percentage of HV sales in vehicle sales was around 5% in 2022, but now it is over 8%. This is partially boosted by semiconductors becoming more readily available. The auto industry on average pays 2,828 USD in sales incentives. Those with HV models, such as Toyota and Honda, pay less sales incentives compared to those without, such as Nissan, General Motors, Volkswagen, and Tesla. Sales of HVs are expected to remain steady for the foreseeable future, which is favorable for the Japanese automakers with an HV portfolio, but in the long run, competition against the expanding electric vehicle (EV) market is inevitable.

Hybrid vehicles (HVs) are gaining popularity in the US. Toyota sold 2.16 million vehicles in North America (NA) in April - December 2023, a 17% increase year-on-year. Operating profit increased by over 11-fold to 552.5 billion yen, and operating profit per vehicle increased by approximately 10-fold to about 260,000 yen. This is likely because of HVs. Honda sold 1.21 million vehicles in the sale period in NA, a 41% increase year-on-year, and operating profit for both four- and two-wheel vehicles was up 68% year-on-year to 406.7 billion yen. Both companies also pay less in sales incentives than the industry average. Automakers without HV models, such as General Motors, Volkswagen, and Tesla pay more than the industry average. Nissan, which does not have HV models, also pays more sales incentives than the industry average. The company increased its vehicle sales in NA by 30% to 920,000 units, but its operating profit only grew by 9% to 275.2 billion yen, and the operating profit per vehicle decreased.