Like everybody else, auto-buying consumers follow the economic news, and the headlines don’t exactly encourage extravagant spending. Which might help explain why hybrid and electric-car sales plunged 24 percent in July compared to a year earlier.
People are definitely buying smaller more fuel-efficient cars, but EVs are expensive, and they’re going for the cheaper — and increasingly fuel-efficient — conventional alternatives. Among the winners there are the Ford Fiesta, Honda Fit and Chevy Cruze (the second-biggest selling car in July, after the Toyota Camry).
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