The US electric vehicle market has experienced growth for three consecutive quarters, following a period of decline after tax credits were cancelled last year. A new report from Cox Automotive indicates that EVs now represent 6.1% of the US market, marking their strongest performance since the third quarter of 2025.
Stephanie Valdez Streaty, director of industry insights at Cox Automotive, noted that the EV market is "finding its footing again." This recovery is attributed to more competitive EV prices and renewed consumer interest spurred by high petrol prices.
Toyota, Rivian, and Subaru were identified as leaders in sales. Sales of the Toyota bZ and Lexus RZ approximately doubled after updated models, featuring Tesla-style charging ports, larger batteries, more powerful motors, and faster charging times, arrived at dealerships late last year. In contrast, Tesla's sales saw a 20% year-over-year decrease, though the company still sold over half of all EVs during the third quarter.
This trend in the US mirrors a recovery observed in Germany. After government incentives for EV purchases ceased in November 2023, German sales initially fell by over half the following month but have since steadily recovered, with August sales being the second highest on record.