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Q3 Auto Sales Show Hybrid Surge While EV Market Declines

Third quarter auto sales reveal a significant shift as hybrid vehicles surge while electric vehicle sales decline amid the removal of federal incentives. General Motors lost market share to Toyota while traditional fuel-efficient models gained ground.

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Insights:
Loser: Sales of the Chevy Equinox EV are down 42% this year following the end last fall of federal tax credits for battery-powered vehicles.

GENERAL MOTORS CO lost 0.7 percentage points of United States market share through September as electric vehicle sales dropped 30% from a year ago. That shift brought TOYOTA MOTOR CORP within 129,194 units of claiming the top sales spot in the American market. Cox Automotive projects total 2026 sales will rise 2% to 16.1 million units despite headwinds in battery-powered models.
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