EVs, Hybrids and Gas: Your Guide to the Latest on Cars

“The proposed standards don’t assure that EV prices will come down. But advances in battery chemistry and technology, along with a significant increase in the number and volume of new EV models on the market, should bring astronomically high EV prices down to earth,” he says

Some prices have already dropped on particular models, such as Ford’s Mach-E and Tesla’s Model 3, largely due to competition. On the other hand, models that are in high demand have seen substantial price increases, says Gritzinger, such as the Ford F-150 Lightning, which is up more than $10,000. He expects such prices to hold until other electric pickups, such as General Motors’ Chevrolet Silverado EV and Stellantis’ Ram 1500 REV, enter the market.

When comparing prices and rebates, EV buyers should also take into account that electric cars are less expensive to own. Between fuel and maintenance costs, the EPA estimates that the average consumer who buys an electric sedan or SUV will save $9,000 over eight years compared to owning a comparable gas guzzler. An electric pickup truck owner could save $13,000 over the same period.

Charging: For now, there is a charging plug standard for North America based on the Combined Charging System (CCS) but Tesla has been promoting its own plug system and has recently won converts, creating some confusion. Ford, GM and Rivian have all promised to offer adapters to make their vehicles work with most of Tesla’s public charging stations (although some older, slower charging stations may not work). Starting in 2025, some manufacturers plan to make their vehicles compatible with Tesla stations without an adapter — although how they will also accommodate the CCS systems after that is unclear.

Hybrids are hanging in there

“We are surprised hybrids and plug-in hybrids are not a larger part of the overall clean air conversation,” says Brian Moody, executive editor of Autotrader and Kelley Blue Book. “I personally drove a plug-in hybrid and got 80 miles per gallon.”

Rather than relying solely on electric motors and a large battery, hybrids typically use smaller gas-powered engines as well as battery power. There are two basic types of hybrids: those that mainly rely on the gas engine and recharge the car’s supplementary battery while driving, and so-called plug-in hybrids that can run under pure electric power for short distances and can be plugged in at night to recharge.

Hybrids are inherently more complex and less fuel efficient than EVs because they have to haul around the heavy gas engine and transmission, so most automakers are switching to pure electrics while the carmakers offering hybrids are those that committed to making them years ago.

Battery power: The main advantage that hybrids offer over EVs is that there’s no “range anxiety.” If the battery runs out of juice, you can continue driving under gas power. So with a hybrid, you don’t have to worry about finding public charging stations, particularly on long trips.

“Hybrids, both with and without a plug, can be a compelling proposition for many consumers,” says Paul Waatti, manager of industry analysis at research firm AutoPacific. “They offer more flexibility and don’t require major lifestyle and behavior changes from living” with a gas-powered vehicle.

Ratings: The automakers offering hybrid options are those that committed to making them years ago. That said, Consumer Reports’ latest annual ranking of the top 10 vehicles in the U.S. included several hybrids, including the Toyota Camry Hybrid sedan and the Hyundai Santa Fe Hybrid SUV. In fact, Jake Fisher, Consumer Reports’ senior director of auto testing, noted that some hybrids are more reliable than their gas-only counterparts.

Traditional vehicles remain in the mix

So are gas-powered cars and trucks running on fumes? Not quite. Models with traditional internal combustion engines, or ICE, are still riding high.

Data from auto intelligence company WardsAuto.com “forecasts that, by the end of the decade, nearly 70 percent of all light vehicles will still come with an internal-combustion engine, including pure ICEs and hybrids,” says Gritzinger.

More of these gas-powered vehicles are designed with very specific target audiences in mind. For example, Ford just introduced the company’s most advanced and powerful gas powered Mustang yet, the 2024 Dark Horse. It boasts a roaring 5-liter V8 engine with 500 horsepower and an old-school 6-speed manual transmission. And brawny ICE pickups, like the 2023 Ford F-150 can still tow more — up to 14,000 pounds — than their electric counterparts, like the 2023 Ford Lightning F-150, which has a maximum towing capacity of 10,000 pounds.

Pricing: Most of the pandemic worries about supply chain issues and excessive demand have resolved. For the first time in two years, ICE prices have started to fall, according to Kelley Blue Book. After 20 months of increases, the average price paid for a new vehicle fell below the manufacturer’s suggested retail price (MSRP) by about $170. Researchers at Kelley believe it will be a continuing trend, but maybe not for long.

“The new EPA standards will not necessarily result in less expensive electric cars,” says Autotrader’s Moody, but “it will, more likely, result in more expensive gas and hybrid vehicles, as automakers will have to spend a considerable amount of time and money making gasoline engine improvements” to meet the new proposed regulations. So the best time to buy a gas-powered vehicle may be sooner rather than later.

Availability: At some point, manufacturers will decide that research and development dollars are better spent on designing better EVs than shoring up combustion engine cars. Indeed, nearly all analysts agree that the days of gas-powered cars are numbered. By 2050, says Gritzinger, “ICE-powered vehicles may become similar to today’s muscle cars: blasts from the past that only come out for special occasions, track days, parades and car shows.”

The Bottom Line

Your decision about what type of car to buy now boils down to what your main goal is. If you want to eliminate climate-changing pollutants and lower your maintenance costs, go fully electric. However, if you’re really only concerned about fuel economy, then a hybrid is a good choice. And finally, if you’re towing and hauling a lot of gear on a regular basis, you should probably stick with a traditional gas-powered pickup for now. Oh, and you’ll still have to choose between front-wheel, rear-wheel and all-wheel drive.