After gas prices hit a September record of $4.48 per gallon, interest in hybrid vehicles continues to peak, along with sales of new and used models.
Driving the news: Hybrid models remain in demand as buyers seek more fuel-efficient options, with new hybrid sales up 24% for 2026, according to CarGurus' Q3 Quarterly Review.
On the used side, hybrid sales are up 19%.
CarGurus also noted that views of hybrid listings, along with EVs, have picked up again as gas prices rose in the fall with the conflict in the Middle East continuing.
“We've been seeing an uptick in demand for hybrids even before gas prices started to accelerate in March,” Kevin Roberts, Director, Economic and Market Intelligence for CarGurus, told CDG News. “I continue to think consumers have shown a preference for hybrids.”
Fit for pricing: Many new hybrid models fit into the price ranges seeing some of the highest sell-through rates, between $30,000 and $50,000, according to CarGurus data.
Those models include:
Ford Maverick ($34,200)
Toyota Camry ($35,900)
Honda CR-V Hybrid ($40,800)
Toyota RAV4 ($41,300)
“I think it continues to show Americans are interested in fuel-efficient vehicles. They just aren't willing to pay a huge premium to get that fuel efficiency,” Roberts said. “And so when you look at a lot of the hybrids, the price points are, I think, relatively affordable. And in general, when we look at the average price of a hybrid compared to an internal combustion engine, it's a very small premium compared to, on the new side, what you would pay for a new EV versus what you would pay for an ICE vehicle.”
Hybrids become majority in some models: Toyota makes up nearly half of hybrid sales at 47.2%, with four of the five top-selling hybrid models (Camry 15%, RAV4 9.7%, Sienna 4.3%, and Grand Highlander 4%).
The Highlander and Grand Highlander are now selling more hybrid models than ICE versions.
Additionally, Toyota has three hybrid models turning in less than 20 days (RAV4 15.6, Grand Highlander 16, and Sienna 17.3), and the Camry is at 21.7 days.
Used RAV4s rise in price: As noted, the Toyota RAV4 Hybrids are selling just after they get on the lot, which is also increasing demand for used models.
Roberts noted that some 2026 used RAV4 Hybrids are running as much as 16% above the price of new versions.
“If you’re looking for a very lightly used 2026 RAV4, there is a premium out there for used RAV4s compared to what you would pay for a brand new one, and that’s due to supply,” Roberts said. “But even if you look at a 2025 or 2024 RAV4, the prices in general across the trims are just slightly below what you’re paying for the base price for those individual trims. It’s crazy because you think generally when you get a used vehicle, and you start driving it, and it’s a year or two old, it’s not going to be within 5% of what the MSRP was for the base trim option was on it.”
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Bottom line: Hybrids remain in demand, and supply is somewhat limited on the new and used side. Roberts does not expect much change in the fourth quarter.
“I think hybrids, even absent what we've been seeing with gas price volatility this year, are still going to have a healthy tailwind behind them,” Roberts said. “The kind of unknown variable there is is what happens with gas prices. If gas prices get up to $5 a gallon, I think it's even more interest than hybrids. If gas prices moderate back down, it could reduce some of that interest, but I still think overall consumers are really starting to move towards hybrids in this market.”
More automakers are planning to roll out more hybrid options in 2027 and beyond to diversify the market.
“The hybrid market so far has really been dominated by a couple of different automakers, and they're in really tight supply,” Roberts said. “There isn't a lot of movement on [the price] front because it's really tight supply, and that's where demand is. As more comes in, particularly as automakers start to come into a more challenger position, I think they could look to get more aggressive on pricing to try to gain some market share there.”
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