Tesla CEO Elon Musk doesn’t think highly of hybrid vehicles. Last year he dismissed them as a “phase” and said it’s “time to move on.” But Toyota doubled down on them—and the move has proved prescient.
Hybrid sales have been on a tear in 2023, jumping 48% in the first three quarters compared to the same year-ago period, the Wall Street Journal reported. Last year, hybrid sales dropped about 6% compared with 2021.
“It’s a smoking-hot market,” David Christ, head…
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