Hybrid vehicles are a ‘passing phase’ that will soon be overtaken by electric vehicles (EVs), according to Glass’s.
The vehicle data provider claimed that due to the pace of technological progression of EVs, a hybrid vehicle purchased at present would become obsolete before the end of its lifetime.
Rupert Pontin, director of valuations at Glass’s, argued that as the traditional concerns of EVs are now being addressed, hybrids may have outlived their usefulness, and will become “little more than a curiosity.”
Pontin said: “Hybrids are designed to solve two of the problems that EVs have faced in recent years – high cost and low range. However, there are very clear signs that these issues are being resolved very quickly.”
Pontin cited the increased mile range of the Renault Zoe, the BMW i3, as well as Volkswagen, which has claimed its IQ will reach 373mi between charges when it’s released in 2020.
He stated that hybrid sales had been powered by fleets in order to reduce tax bills due to lower CO2 emissions, and they did not perform well in the used market, a situation which would only worsen as EV range improved.
Pontin added: “[Used] buyers tend to view them as more complicated that diesel but with few compensating advantages…it is difficult to foresee a situation in which demand is likely to increase.
“Unless manufacturers find it difficult to bring the price of EVs down to somewhere near family cars, then hybrids will simply be seen as a passing phase in the history of the car.”