US electric‑vehicle sales fall 20% in Q2 but manufacturers stay on track

US new‑electric‑vehicle registrations dropped 20% in the second quarter compared with a year earlier, according to Cox Automotive. The decline follows a surge last year that was driven by buyers rushing before the expiration of federal tax credits and other incentives. The Trump administration eliminated the $7,500 credit and related emission‑penalty rules, reducing demand and prompting legacy automakers to write down billions in EV‑related costs.

Despite the slip, industry analysts say the market is not collapsing. Used‑EV sales hit a record, and second‑quarter sales rose 15% versus Q1 as the market stabilises. Automakers, including Tesla and traditional manufacturers, continue to plan new EV models, noting "some level of natural EV demand" even without subsidies. The broader global EV market remains robust, giving U.S. producers a reason to stay invested in electrification.