Overview
- Electric vehicles made up an estimated 5.3% of U.S. new‑vehicle sales in November, less than half September’s record share, according to S&P Global Mobility.
- Automakers reported steep November drops for key models, including Ford’s Mustang Mach‑E down 49% year over year and Hyundai’s Ioniq 5 down 59%.
- The post‑deadline slump followed the Sept. 30 end of federal incentives—a $7,500 new‑EV credit and a $4,000 used‑EV credit—under legislation signed in July.
- Affordability, high battery repair costs, and charging access remain major hurdles, with AAA and Cox Automotive citing an average EV price premium of about $10,000.
- ICCT projects purchase‑price parity across most segments by 2028–2029, while Cox Automotive expects “natural demand” to emerge within roughly six months, and several states are continuing EV and charging initiatives despite reduced federal support.