The EV Collapse in America Shows Early Signs of Relenting
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The US electric vehicle market shows signs of stabilizing despite initial predictions of a collapse, with consumer interest rising due to soaring gas prices. While EV sales have not accelerated, they have not crashed either, with some brands reporting positive sales figures.
The US electric vehicle market is stabilizing after initial concerns of a collapse. Rising gas prices due to the Iran conflict have recharged consumer interest in EVs. Edmunds reported a 2-point rise in EV consideration to 11.6% in March, the highest since September 2025. Cox Automotive also found the market had leveled off, with brands like Cadillac and Toyota posting positive EV sales figures. However, it's unclear if interest will translate to actual sales. Used EV sales rose 12% in the first quarter, driven by affordable options from Tesla, Ford, and Hyundai. Some automakers, like Volvo, reported significant drops in US sales, while others like Volkswagen saw a smaller decline.
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