Environmental and sustainability issues coupled with increased awareness have urged researchers to focus on natural sources that can substitute several forbidden materials. Fiber‐reinforced hybrid polymeric composites have succeeded in attracting global attention toward its suitability to replace conventional materials. Hybrid fibers have recently become immensely popular with polymer composite reinforcements for various automotive parts. Hybrid composites are developed by blending natural, synthetic, or a combination of natural or synthetic fibers in a single matrix. Hybridization allows enhancements in physical, mechanical, and thermal properties of the composites. Hybrid composites assist in achieving an optimum combination of properties than individual fiber composites. In this paper, a comprehensive review of the properties of composite reinforcement natural fibers for the application of automobile components is presented. Recent articles on emerging fiber types are reviewed and fabrication techniques required for hybrid polymer composites are discussed. A prospective study is also presented and discussed of future trends in natural fiber applications as well as needed innovations for extending their applications.