Are EV sales hitting records or in retreat? Here's what's actually going on

"Between July and September, electric vehicle sales in the U.S. hit a record high. Americans bought more than 430,000 EVs, up 40% from the previous quarter, as they race to qualify for federal tax credits before they expire. That EV boom wasn't just limited to the U.S., though: Global EV sales hit an all-time high of 2.1 million in September. Two-thirds of those sales were in China, the world's largest EV market."

"And yet, there's still talk of an " EV retreat," both in the U.S. and abroad. Automakers have expressed concerns about their EV profits, and policymakers in Canada and the European Union are pausing, or adjusting, their EV mandates. There's an "inherent duality of the market moment we're in," says Corey Cantor, research director of the Zero Emissions Transportation Association. "On the one hand, EV sales are higher than they have ever been, and yet automakers still remain concerned.""

U.S. electric vehicle sales hit a record between July and September, with more than 430,000 EVs sold, a 40% increase from the previous quarter. EVs comprised nearly 11% of U.S. vehicle sales in that period, up from 8.6% a year earlier. Global EV sales reached 2.1 million in September, with about two-thirds occurring in China. A rush to claim federal tax credits that offered up to $7,500 for new EVs and up to $4,000 for used EVs drove U.S. demand. Automakers cite profit concerns, and some policymakers in Canada and the EU are pausing or adjusting mandates. EVs remain premium-priced, with the average costing above $57,000 in August.

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