Forecaster Puts EVs at Nearly a Quarter Market Share Soon
J.D. Power report says current adoption rates to result in 24% new-vehicle share by 2026.
Premiums models by Tesla and other makers still dominate the market, so as more mass-market models are launched, adoption will increase, J.D. Power says.
IMAGE: Pixabay/capitalstreet_fx06
Though electric vehicles aren’t taking off as fast as legacy automakers had thought they would, U.S. adoption is growing, and at least one prognosticator says EVs will become much more mainstream in just a few years.
A report by J.D. Power predicts EVs will make up nearly a quarter of new-vehicle sales by 2026.
The data provider points out that various factors impact EV sales volume, from price and incentives fluctuations to available models. Therefore, temporary shifts can result in unusually large short-term numbers.
EVs hit an 8% U.S. new-vehicle market share for the first time in the third quarter, still well behind that of Europe, for instance, where battery-electric registrations reached 14% market share year-to-date in October. Meanwhile, U.S. consumer interest in EV purchases was flat in AAA’s latest annual poll.
But based on current adoption rates, J.D. Power predicts U.S. EV market share will hit 13% by the end of next year and 24% by the close of 2026, despite temporary slowdowns during the period.
It said the launch of more mass-market EVs will be a crucial factor in the upswing, since luxury EVs still dominate the segment. Tesla, which occupies that premium space, is still the U.S. EV market leader.
The higher price tags of typical EVs, along with limited public charging infrastructure, are consistently cited as a top reason consumers opt for hybrids or gas-powered models.
Originally posted on Auto Dealer Today
More Industry
Charger Network Growth Slows
Despite a projected increase in public EV chargers in 2026, charging infrastructure remains a top concern for consumers as the gap between the most and least EV-friendly places remains substantial.
Read More →
Lenders, Consumers Take on More Auto Loan Risk
September records loosened credit access the most in over a decade as buyers took advantage of the conditions to afford trading, though loan applications fell.
Read More →
Next-Gen Hybrids in Sight
Dealerships can expect to see revamped hybrids from Honda next year as the company rolls out a new system and model lineup.
Read More →
Gem State Stores Change Hands
A larger auto group founded in the industry’s early years sold two franchises to a neighbor group that's on a growth spurt.
Read More →
Charging In Motion
Honda has been researching wireless in-motion charging for electric vehicles since 2025, and new technology developments have put it a step closer to a final product.
Read More →
Twin Cities Stores Sell
Minnesota-based Walser Automotive Group made what it called the most significant acquisition in its history with a three-rooftop deal in Minneapolis.
Read More →
U.S. Auto Sales Still Below Prepandemic Levels
Mobility Global industry observers don’t expect the market to return to the higher volumes that became routine before Covid but to stay well below its potential.
Read More →
The Powertrain Shift
Electric-vehicle owners are backpedaling, according to new data, with product availability driving many to shift back to gas-powered engines.
Read More →
Achromatic Autos
The shades that dominate the U.S. car market don’t call attention to themselves, though grayscale may have plateaued after a 30-year upswing, research shows.
Read More →
Used-Vehicle Affordability Worsens
Listing prices in August defied seasonal trends, rising above $27,000 for the second time this year.
Read More →