U.S. electric vehicle sales rebound, capturing over six percent of market
After a slump following tax-credit cancellations, U.S. EV sales have risen for three straight quarters, now accounting for 6.1% of new-car sales.
Electric-vehicle sales in the United States have been climbing for three consecutive quarters, reaching a market share of 6.1%, according to a new Cox Automotive report. Stephanie Valdez Streaty, director of industry insights at the firm, said the sector is regaining momentum as prices become more affordable and gasoline prices stay high. Toyota, Rivian and Subaru are at the forefront, with Toyota’s bZ and Lexus RZ lines seeing sales roughly double after a refresh that introduced larger batteries, more powerful motors and Tesla-style charging ports.
Tesla experienced a 20% drop in sales compared with the previous year, yet it continues to dominate the market by selling more than half of all EVs in the most recent quarter. The U.S. trend mirrors a recovery in Germany, where EV sales fell sharply after incentives were cut but later rebounded, with August sales ranking as the second highest on record. Analysts view the data as a sign that the EV market is stabilizing after earlier policy setbacks.
