We aren't going to see EV sales figures like last year's anytime soon. After the feds announced in 2025 that federal EV tax rebates were being axed, would-be customers rushed to dealerships to get their cars before those sweet government bucks were gone. That led to Q3 2025 being a record-shattering quarter for EV sales. Since then, sales have understandably dropped significantly, but they're starting to rebound. According to Cox Automotive, EV sales improved by 6.1% in Q3 2026 over the previous quarter, and were the highest they've been in a year.

"What we're seeing now is a market finding its footing again," Stephanie Valdez Streaty, director of Industry Insights at Cox Automotive, said in a release. "The third quarter was the highest EV sales volume in a year, and improvement through 2026 suggests the reset phase is largely behind us."

Sales might not be anywhere near where they were a year ago, but that doesn't mean there aren't bright spots. Most brands saw their EV sales drop during the same time last year, but a few brands actually saw EV sales improvement. Toyota, for example, saw five times more EV sales than it did in Q3 2025, for example. Lexus saw similar growth and Rivian's sales grew by 46%. All three brands benefitted from new models, though, which explains why they're the outliers.

The reality of the situation is pretty simple: customers shop with their wallets. So while there are absolutely some EV hold outs, due to the public largely not understanding electrification very well or the lack of charging infrastructure in some areas, customers go where the deals are. Last year, there were plenty of EV deals to be had, thanks to the tax breaks. That's why more than 437,000 EVs found homes in Q3 2025, versus the almost 263,000 for Q3 2026. However, as Valdez points out, as electric cars become more plentiful, with greater variety and more competitive prices, more and more customers will go for them. Especially as fuel costs continue to rise.

"The next stage of growth will be driven by great products, competitive pricing, and automakers that continue to give consumers compelling reasons to make the switch," Valdez said. "And high pump prices are likely helping as well. With gas prices well above $4 a gallon, electric vehicles look better than ever."

Customers always want the best deal. Now, with many EVs offering enough range for almost anyone's lifestyle, EVs will start looking like better and better deals. Hence the slight rebound, hopefully should continue.