Overview
- J.D. Power/GlobalData estimates put October EVs at roughly 5.2% of U.S. retail sales, down from September’s 12.9% record and about 43% lower year over year at roughly 54,700 units.
- Automakers have raised EV incentives to cushion the loss of the $7,500 credit, with average discounts around $13,161, and dealers report lease workarounds such as boosted residuals via captive finance arms.
- Volkswagen’s U.S. chief said the brand will emphasize full hybrids to match consumer demand, reflecting a broader industry reassessment of powertrain plans after the policy-driven shock.
- Executives outlined near-term affordability moves: Lucid says it split the lost-credit cost on the Air and is targeting a lower-priced model next year, while Rivian is offering purchase deals and plans to launch the roughly $45,000 R2 SUV in the first half of next year.
- Financial and outlook signals are mixed, with GM booking a $1.6 billion EV-related charge even as analysts project a gradual recovery toward the end of the decade, including a Cox forecast of about 24% EV share by 2030.