Story perspectives
EV Sales Plunge 74% After Tax Credit Expires
11/3/2025
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Story summary
- The expiration of the $7,500 federal tax credit led to up to a 74% drop in U.S. all-electric vehicle sales in October 2025.
- Ford, Kia, and Hyundai reported declines, with Ford’s EV sales down nearly 25%.
- Ford’s overall vehicle sales rose 1.6% in October 2025 due to SUVs and pickups.
- Industry experts foresee a reset toward genuine consumer interest, with some automakers hopeful for recovery as the market stabilizes.
