Henry Epp

So sales maybe unsurprisingly really fell off once there was no longer this incentive for consumers.

Monthly EV sales fell by nearly 50% in October from September, and they've sort of stayed at that level in November.

This is according to Cox Automotive.

One reason for this, you know, is the end of those incentives created sort of a classic pull-forward situation.

So, you know, people who might have bought an EV, say, around now, around the holidays or in early 2026, they did that instead in July or August when this tax credit was still on the books.

Yeah, so again, this is data from Cox Automotive, but the difference for new cars is over $9,000.

It'll run you well over $9,000 more than a combustion engine car to buy a new EV.

On the used side, it's a little bit closer.

It's more in the $2,700 range, still cheaper.

EVs are a little bit more expensive.

But the used part of the market is getting a lot more affordable for EVs.

There are a lot more EVs, you know, that were built, say, three, five years ago coming onto that market.

You can actually get, I was looking around, you can get a Tesla for like $21,000, $23,000 in a lot of places, which is a pretty big difference.

Yeah, I mean, we've seen them really pull back.

Companies like Ford and GM have both taken billions of dollars in charges on their EV operations, you know, essentially saying we're giving up a lot of what we had been working on.

They have scaled back some of their offerings.

particularly for larger EVs, some sort of electric trucks and that kind of thing.

What I think is kind of interesting is a lot of companies still think that this is the future, that eventually more cars will be electric.

So they're not giving it up entirely.

Ford, for example, has this operation that it's calling a skunkworks, this thing that it has within the company to develop a whole new EV platform that it'll build later.