Automakers are facing a dilemma - with demand for hybrid cars burgeoning but having already invested in building pure EV platforms, what should they do now? Sheena Patel, an EV sector specialist at management consultancy Vendigital, discusses.

The latest data on new car registrations in September 2024 from the Society of Motor Manufacturers and Traders confirms that sales of new hybrid EVs rose 2.6% year on year, with plug-in hybrids up by 32.1%. Hybrid EVs now represent 14.2% of the total market.

Meanwhile, sales of new battery-powered electric vehicles (BEVs) are growing, but not quite as quickly as predicted, and new internal combustion engine (ICE) vehicles still make up more than half of all new car uptake.

The global picture is similar, if not further skewed in favour of hybrid sales. In China, for example, hybrid cars can be significantly cheaper than pure EVs and somewhat cheaper than ICE vehicles, which is helping to drive demand.

Elsewhere, demand for hybrid cars has increased...