"The uncertain future will affect U.S. emissions, the strategies of legacy automakers, and maybe the very survival of some EV startups. Driving the news: U.S. EV sales smashed records in Q3, new Cox Automotive data shows, as consumers rushed to tap credits and dealers rushed to move cars. "EV sales volume in Q3 was up 40.7% from the previous quarter and higher by 29.6% year over year," it found."
"State of play: Various automakers fared quite differently during the overall Q3 updraft. Volkswagen, GM, Honda and Hyundai saw "sizeable gains" in the July-September stretch. Tesla accounted for 41% of EV sales - still dominant but losing market share. GM's electric Chevy Equinox SUV was the third bestseller after Tesla's Model Y and Model 3. Toyota and Nissan saw lower quarterly sales."
"What we're watching: Sales data in Q4 and throughout 2026 to see if a new normal starts to emerge. "The all-time sales and share records in Q3 were all but certain. What is far less certain is what happens next," Cox notes. Disclosure: Cox Automotive and Axios are both owned by Cox Enterprises. Sign up here for Axios' Future of Energy newsletter."
U.S. EV sales volume in Q3 rose sharply, increasing 40.7% from the prior quarter and 29.6% year over year. Fully electric models comprised 10.5% of new light-duty sales, up from 8.6% a year earlier. Consumers and dealers accelerated purchases and inventory moves to capture credits and clear stock. Automaker results diverged: Volkswagen, GM, Honda, and Hyundai posted sizeable gains while Tesla remained the largest single seller at 41% of EV sales but ceded some market share. GM's electric Chevy Equinox ranked third behind Tesla's Model Y and Model 3. Toyota and Nissan saw declines. Future quarterly data will show whether the surge persists into Q4 and 2026.
Read at Axios
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