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EV Sales Recover in Q2

The EV sales roller coaster continues as numbers show improvement, but industry experts predict a year-over-year third-quarter decline and fourth-quarter jump.

August 12, 2026
blue sky, yellow and orange rollercoaster with riders going up an incline

Benchmark forecasts that third-quarter numbers won't be as positive when compared to the previous year's tax credit-induced surge.

Credit:

Canva

1 min to read


U.S. electric-vehicle sales changed course in the second quarter, making for a nearly 10% improvement year-to-date, according to Benchmark Mineral Intelligence.

The first quarter showed an expected drop in sales due to increased prices and, of course, the end of the federal EV tax credit at the end of last year. Overall sales were down 32%.

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However, April saw a significant jump in sales, down only 19% year-over-year. And the rate continued to improve in May, down 14%, and June, down 9%.

"This positive movement coincides with the movement in gas prices and consumer sentiment following the closure of the strait of Hormuz and rising oil prices," said Will Roberts, Benchmark's automotive research lead. 

"Large increases in consumer interest in EVs have been seen across almost every region, so this more modest impact in the US is logical, and a clear uptick in penetration rate is visible."

Looking ahead, Benchmark forecasts that the third quarter year-over-year comparison won’t be as positive since it will be compared to the sales spike before the end of the tax credit. But it said that the fourth quarter will likely show year-over-year gains due to recovery from the trough following the credit's end.

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