EV market volatility: sales drop, used surge & oil/hybrid risks
Key Questions
What was the US Q1 trend for new EV sales?
New US EV sales fell 28% to 212k units in Q1. Tesla missed targets amid broader market volatility.
How did the used EV market perform in US Q1?
Used EV sales rose 12% to 93.5k units at an average $34.8k, with prices falling due to oversupply. Registrations jumped 40%, Model Y at $22-26k.
What is driving hybrid sales growth?
Hybrids surged 57%, with Kia up 73%, as new EV sales dropped. Rising gas prices over $4/gallon from Iran war fuel the shift.
How are gas prices impacting EV demand?
Gas prices hit $4+ due to Iran war and global shocks, boosting used EV demand and Quebec spikes. Drivers flock to used EVs.
What incentives support used EVs?
Used EV tax credits continue post-federal changes, with Uber offering $4k grants. Authorities investigate expansions amid falling prices.
What is the TCO advantage of EVs?
EVs maintain a total cost of ownership edge despite FUD, with lower fuel and maintenance debunking myths. Used deals enhance affordability.
How did EV sales perform in the UK in March?
UK saw its best-ever March for EV registrations. Global trends show volatility but pockets of growth.
What replaces the federal EV tax credit in 2026?
Post-credit incentives include state rebates and used credits. These step in as federal support phases out.
US Q1 used +12% 93.5k/$34.8k (prices falling/oversupply/top deals/+40% registrations/Model Y $22-26k); new -28% 212k/Tesla miss; hybrids +57%/Kia +73%; gas $4+/Iran war/Quebec spikes/global shocks; Uber $4k grants; TCO EV edge/FUD debunk; UK best-ever March; post-credit incentives.