US EV Sales in Q3 2026: 39.5% Drop from Peak But Higher than Spring | Who Won

262,649 Americans bought EVs in the third quarter of 2026, representing a 6.1% gain from the second quarter of 2026. This is the highest quarterly total since the third quarter of 2025, however, it has fallen by 39.5% from last year. Cox Automotive described Q3 2025 as the best quarter ever for EV sales in the US, due to customers rushing to take advantage of the $7,500 tax credit before it expired on September 30th, 2025.

However, EV sales still only made up around 6.4% of new vehicle sales, which is an increase from the second quarter (5.8%) but significantly less than the 10 percent recorded in Q3, 2025.

Tesla took just over half of the market. However, Toyota, Rivian and Subaru all saw big increases. Several brands (Ford, Honda and Hyundai on their popular models) saw big declines in sales. Below we have broken down the statistics, how to interpret the figures and how it could impact your EV shopping.

262,649 EVs were purchased in the third quarter, a 6.1% increase from Q2 but a 39.5% decrease from Q3 2025. This is the highest quarterly total since Q3 2025. Stephanie Valdez Streaty, director of industry insights at Cox Automotive said "The third quarter was the highest EV sales volume in a year."

Sales of EVs as a percentage of new vehicles was around 6.4%. Cox added that when hybrids and plug-in hybrids are included around 25% of vehicles were EVs sold in the quarter.

It should be noted that Electrek reported the figures as 266,630, a 7.7% increase from Q2 but a 38.6% decrease from last year. The figures on the Cox page have since been updated. You can see their report was updated on 13th October. We have used the 262,649 figure as the Cox page has been updated. However, you can find the latest figures in the report.

The figures are just estimates from Cox and KBB. As such the figures can vary between sources.

As mentioned above, the EV tax credit of $7,500 expired for vehicles purchased after September 30th, 2025. As such, Q3 2025 saw the highest ever sales of EVs. EVs made up over 10% of sales.

This can create a misleading impression when comparing to any other quarter. The sales will be much lower due to the tax credit being lost but this will have increased the effective cost of all EVs. However, when looking at the figures it is better to look at how they compare to the previous quarter. Sales increased by 6.1%. EVs made up 6.4% of sales (5.8%). Valdez Streaty described the period after the tax credit expired as a "reset phase" that is "largely behind us" (Electrek), and said in Cox's commentary: "What we're seeing now is a market finding its footing again."

Just because two quarters have seen a slight increase does not mean there is a trend. We will have to see how the market performs in the coming quarters.

About 144,094 EVs were sold by Tesla in the third quarter of 2026. This gave the brand a 54.0% market share. This means that Tesla outsold all the other brands combined, which sold 118,555 EVs.

This is a 19.7% drop from Q3, 2025. This is less than the 39.5% decline for the overall market. Tesla did have a 20% drop, but still had over half of all EV sales in the US.

The Model Y was the best-selling EV with 99,037 units. This was a 13.8% decline from 114,897. The Model 3 came in second with 40,346 units. This was a 25.1% drop from 53,857. The Model Y was responsible for 69% of Tesla’s sales in Q3, while the Model 3 was responsible for 28%.

The Model Y sold more than all other brands. It sold 99,037 units, while the next highest brand (Rivian) only sold 19,239.

Overall in year-to-date sales Tesla has sold 386,194 EVs. This means they had a 52.9% market share. They sold around 124,800 units in Q2 giving them a 50.5% market share. Overall their market share has increased slightly.

In July, Tesla had around a 55% market share in the US. This figure comes from the monthly estimate of Cox’s EV Market Monitor.

From the table below, you can see the top 10 EVs sold in Q3. The Tesla Model Y led the way with 99,037 units. The Tesla Model 3 came second with 40,346 units. The Hyundai Ioniq 5 was third with 10,382 units. This was a 52.8% drop from 21,999 the previous year.

The Rivian EDV500 and EDV700 delivery vans came in fourth with 8,469 units. This was an increase of 220.9% from 2,639. The Toyota bZ was fifth, with 7,391 units. This was an increase of 145.1% from 3,015. The Rivian R1S was sixth with 5,582 units, but this was a 31.8% drop.

The Ford Mustang Mach-E was seventh with 5,574 units, a 72.4% drop. The Kia EV9 came eighth with 5,394 units. This was a 28.2% drop. The Honda Prologue was ninth with 4,882 units, a 75.9% drop. Finally, the Cadillac Optiq was tenth with 4,550 units, a 6.9% drop.

Some key points to note are the huge difference between Tesla and the rest. The Model Y sold almost ten times more units than the third best seller (Hyundai Ioniq 5). Also, there are delivery vans from Rivian in the list.

Both Toyota and Lexus saw nearly a 5-fold increase from last year. Electrek reported that Toyota saw a 328 percent increase and Lexus saw a 442 percent increase. Although as there is no timeframe given this is just a general indication.

The Toyota bZ saw a large increase with sales of 7,391 in Q3. This was an increase from 3,015. Electrek reported that year-to-date sales have almost doubled to 25,000 units. This increase was helped by a new updated model for 2026, which went on sale late last year.

Rivian saw a 46% increase in Q3, reported by both Cox and Electrek. However, most of this was from the delivery vans (EDV). The Rivian R1S was a 31.8% decline.

Subaru saw a 31% increase. This was thanks to three new electric SUVs.

All of these brands have had very few EVs on sale a year ago or have had a refresh. This makes it easier to see growth from a small market. This shows they are on the rise.

Nearly all brands saw a decrease in EV sales. The biggest declines were the Honda Prologue (-75.9%), Ford Mustang Mach-E (-72.4%) and Hyundai Ioniq 5 (-52.8%).

Looking at the year-to-date table from Electrek, the Chevrolet Equinox EV is fifth with 18,154 units. However, this is a 65.6% decrease. The Mustang Mach-E is down 59.0% and the Honda Prologue is down 63.6%.

Electrek also reported that the Hyundai Ioniq 5 was the most popular non-Tesla EV with 31,112 units sold through September. However, this is a 24.3% decrease. Electrek reported that Hyundai saw a 63% decline in sales of the Ioniq 5 the month after the tax credit ended. They also reduced the price of the Ioniq 5 for 2026 by nearly $10,000 on some trims.

A key factor to note is that the declines were not just down to demand. Many of these models had been selling on the strength of the tax credit, which is a reasonable inference from the timing, though the reports do not break it down.

The Equinox EV, Ioniq 5 and Toyota bZ are some of the cheapest EVs on sale, starting from around $35,000.

Looking at the year-to-date table from Electrek, the Tesla Model Y was the best seller with 262,491 units. This gave them a 36.0% share of the segment. However this was a 1.0% decline from last year. The Model 3 came in second with 106,962 units. This was a 31.1% decline.

Third was the Hyundai Ioniq 5 with 31,112 units. Fourth was the Toyota bZ with 24,944 units. Fifth was the Chevrolet Equinox EV with 18,154 units. The Rivian R1S came in sixth with 17,259 units. The Mustang Mach-E came in seventh with 17,206 units. The Rivian EDV500 and EDV700 came in eighth with 15,685 units. The Honda Prologue was ninth with 13,289 units. Lastly the Kia EV9 was tenth with 12,429 units.

Electrek noted that the two Tesla models account for 50.7 percent of the share. This ties in with what Cox said, Tesla have had over half the market in the US.

Looking at the year-to-date figures you can see that the biggest change from last year was in the middle of the market. The Model Y has barely changed but models like the Equinox EV, Mustang Mach-E and Prologue have all seen large declines.

Valdez Streaty said gas prices are "well above $4 a gallon", which she argues makes EVs look better than ever. This is a classic reason people would be looking to an electric car. Unfortunately these reports do not give us any indication of how much it influenced buyers.

However, there have been discounts from the automotive brands. As mentioned above, Hyundai reduced the price of the Ioniq 5 for 2026 by nearly $10,000 on some trims. This can sometimes mean buyers pay less than they expected. However, this varies depending on the trim, region and lease.

The page we looked at from Cox does not give any indication of average sale price or incentives. However, you can find this in the full report.

When buying an EV, it is important to know that the market has changed from tax credits to discounts and financing offers. It is worth looking at what the true price is.

The figures can be misleading. These are the number of vehicles sold. The percentage shows the share of all new vehicles sold. In Q3 there was a 39.5% decrease from last year. The percentage was 6.4% compared to over 10% last year. This can be misleading as the percentage is influenced by how many traditional cars were sold.

The percentages can be misleading. The Rivian EDV vans saw a 220.9% increase because they had such a low starting point. Whereas the Model Y saw a 13.8% decrease from a much larger starting figure. A large percentage decrease from a large number will have a bigger impact on the vehicles sold than a large percentage increase from a small number.

These are just estimates. Cox and KBB have estimated these figures based on registrations and sales. The two different figures for Q3 (262,649 and 266,630) show that the figures can be adjusted.

The top selling vehicles include delivery vans. Also, some of the vehicles have had a recent refresh. For example, the Toyota bZ was refreshed recently.

The quarter is a short time frame. It would be worth looking at how the market has performed over several quarters.

Electrek reported that new models, such as the Kia EV3 and Rivian R2 could impact the rankings by the end of the year. New and cheaper models can help as affordability seems to be the main factor in determining which EVs are increasing in sales.

There is also the political aspect. Democrats in Congress have proposed to bring the credit back and double it. However, with Republicans in power there is virtually no chance this will happen. We have covered this bill in another post.

Fuel prices could also have an impact. If they remain high then they will continue to push people towards EVs.

Once the numbers are released for Q4 we will know if the 6.4 percent is just the beginning or if it has stalled.

The federal credit has expired for vehicles purchased after September 30th, 2025. Do not expect to receive it. It is worth checking any state, local and utility incentives.

Many brands are offering discounts so it can be worth looking at a few models in the same price range. The Equinox EV, Ioniq 5 and bZ all start from around $35,000. However, this depends on the trim, features and local deals.

Look out for any lease deals and finance rates. Ask your dealer what the final price is including any fees. Discounted prices can be offset.

Before purchasing look out for any charging available at home. The credit for home chargers expired on June 30th, 2026 so you may have to pay more than expected.

Remember these are national figures. Local factors such as whether you can charge at home and how far you commute will have more of an impact.

The market is much more stable than it appears. Although it has dropped from the peak last year, it has increased from Q2. The percentage has increased to 6.4% from 5.8%. Brands that are selling cheaper or have had a refresh are seeing increases.

Tesla have seen a slight increase in their market share throughout the year despite their own sales falling from last year’s peak. Many traditional brands have seen a big drop now the credit has expired. It remains to be seen if they will bounce back.

We have not analysed the raw data. Everything has been taken from Cox Automotive, KBB estimates, EVwire and Electrek. The figures may be subject to change. This is just our interpretation.

Cox Automotive, Q3 2026 EV Sales Report Commentary: https://coxautoinc.com/insights/q3-2026-ev-sales-report-commentary EVwire, Tesla outsells all other EV brands combined in US Q3 2026 October 15, 2026: https://evwire.com/p/tesla-outsells-all-other-ev-brands-combined-us-q3-2026-cox-automotive Electrek, These are the top 10 best-selling EVs in the US through Q3 October 12, 2026: https://electrek.co/?p=487868 Electrek, Dems introduce new $15,000 EV tax credit bill that has no chance October 28, 2026: https://electrek.co/2026/10/28/15000-ev-tax-credit-bill-landsman-no-chance/