Electric vehicle sales rebounded in the second quarter of this year, with U.S. automakers collectively posting their strongest results since the federal EV tax credit ended last September, according to new data from Cox Automotive released Friday. While sales remained down compared to a year ago, Q2 marked the best quarter for EVs in the post-tax-credit era, suggesting the market is beginning to recover from last year's policy shocks.
Carmakers sold 247,226 EVs in the U.S. between April and June, marking a 14.2% quarter-over-quarter increase. Sales were down 20.5% compared to the same period last year when the EV tax credit was still in place. But the quarterly growth paints a clearer picture of how the market is settling into its new reality after the incentive expired.
