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U.S. EV Sales Plummet 49% as Tax Credit Ends

12/1/2025

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Summary

Story summary

U.S. EV sales fell nearly 49% in October after end of a $7,500 tax credit.
General Motors (GM) and Rivian Automotive, Inc. announced layoffs due to declining demand.
Nissan Motor Co., Ltd. and Honda Motor Co., Ltd. pulled EV models from market.
Manufacturers are shifting focus to hybrids and gas-powered vehicles, with relaxed emissions rules.
Analysts warn that without affordable EV options, the United States may fall behind.

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Story summary

U.S. EV sales fell nearly 49% in October after end of a $7,500 tax credit.
General Motors (GM) and Rivian Automotive, Inc. announced layoffs due to declining demand.
Nissan Motor Co., Ltd. and Honda Motor Co., Ltd. pulled EV models from market.
Manufacturers are shifting focus to hybrids and gas-powered vehicles, with relaxed emissions rules.
Analysts warn that without affordable EV options, the United States may fall behind.