Jeep plans to grow U.S. sales of its plug-in hybrid electric vehicles by as much as 50% this year as it leans into the technology as a bridge between its traditional gas-guzzling SUVs and all-electric vehicles amid a slower-than-expected sales pace of EVs.<\/p>\n
The\u00a0Stellantis\u00a0brand expects to sell 160,000 to 170,000 plug-in hybrid electric vehicles, or PHEVs, in the U.S. this year, an increase of 40% to 50% from last year,\u00a0Jeep CEO Antonio Filosa\u00a0told CNBC.<\/p>\n
The target comes as Jeep launches its first all-electric SUVs in the U.S., beginning with the\u00a0Wagoneer S.<\/p>\n
\u201cIt\u2019s the best time to be flexible, as we are,\u201d Filosa said during an interview Thursday after unveiling the brand\u2019s new EV in New York. \u201cOne of the pillars of growth for the market is going to be freedom of choice.\u201d<\/p>\n
PHEVs, which combine an internal combustion engine with EV technologies, could help accelerate consumer adoption of electrified vehicles, as a sort of stutter step to all-electric models.<\/p>\n
PHEV sales at the level Jeep is expecting this year would top Stellantis\u2019 total 2023 U.S. sales of the vehicles, at roughly 143,000 units. They also would outperform an industry forecast for 27.5% segment growth this year, according to AutoPacific. That compares with the consulting and data firm\u2019s 17% growth for EVs.<\/p>\n
Jeep\u2019s PHEV sales last year totaled 113,113 units, including 67,429\u00a0Jeep Wranglers\u00a0and 45,684\u00a0Jeep Grand Cherokees. Through the first quarter of this year, sales totaled 31,750, up 47% from the same period a year earlier. The brand is first in the U.S. in PHEV sales.<\/p>\n
Jeep has leaned into PHEVs more than others to offset sales of the brand\u2019s gas-guzzling SUVs amid tightening emissions and fuel economy standards.<\/p>\n
The next Jeep vehicles are expected to be the Wagoneer S EV this fall, followed by a\u00a0Wrangler-like EV\u00a0called the Recon and a replacement for the discontinued Cherokee midsize SUV during the first half of next year. The automaker also will add new plug-in \u201crange-extender\u201d models to its gas-powered\u00a0Wagoneer and Grand Wagoneer\u00a0large SUVs in 2025.<\/p>\n
\u201cWe have a game plan. We have a business plan, and we believe that price position and product wise, we are perfect to meet the volume we want to make,\u201d Filosa said.<\/p>\n
Both hybrids and plug-in hybrids have a traditional engine combined with EV technologies. A traditional hybrid, such as the\u00a0Toyota\u00a0Prius, has electrified parts, including a small battery, to provide better fuel economy to supplement the engine.<\/p>\n
Plug-in hybrids typically have a larger battery to provide for all-electric driving for a certain number of miles until an engine is needed to power the vehicle or electric motors.<\/p>\n
Both Filosa and Stellantis Chief Technology Officer\u00a0Ned Curic\u00a0said the company is evaluating whether to launch traditional hybrid vehicles in the U.S. in addition to its plug-in models.<\/p>\n
\u201cWe\u2019re deciding at the moment how will the market respond to our hybrids,\u201d Curic said during a separate interview. \u201cWe have a good mix on our roadmap between EV, PHEV, [and internal combustion engine].\u201d<\/p>\n
The \u201crange-extender electric vehicle\u201d models, or REEVs, operate slightly differently than typical hybrids. The vehicles can operate as a zero-emissions EV until the vehicle\u2019s battery dies and an electric onboard generator \u2014 powered by a 3.6-liter V6 engine \u2014 kicks on to power the vehicle after its initial charge.<\/p>\n
Stellantis\u2019 first REEV vehicle is expected to be the\u00a0Ram Ramcharger\u00a0full-size pickup truck later this year.<\/p>\n
\u201cThis is quite a good option,\u201d Curic said. \u201cI\u2019m confident that vehicle is going to do exceptionally well.\u201d<\/p>\n
The REEVs are expected to be priced higher than PHEVs (which already carry a premium compared to traditional gas-powered vehicles) but below all-electric models, according to Curic.<\/p>\n<\/p>\n
Jeep plans to grow U.S. sales of its plug-in hybrid electric vehicles by as much as 50% this year as it leans into the technology as a bridge between its traditional gas-guzzling SUVs and all-electric vehicles amid a slower-than-expected sales pace of EVs. The\u00a0Stellantis\u00a0brand expects to sell 160,000 to 170,000 plug-in hybrid electric vehicles, or […]<\/p>\n","protected":false},"author":0,"featured_media":5215,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-5214","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/5214","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=5214"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/5214\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/5215"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=5214"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=5214"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=5214"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}