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

World EV Adoption Set to Grow
A new report says the segment, despite recent setbacks in some regions, is poised for acceleration as many countries look to reduce pollution.
Read More →
Black Book: Weekly Market Update
Wholesale automotive auction business stayed steady last week as bidders encountered lower prices, analysts observed.
Read More →
Pricing Transparency Drives Purchase Consideration
An annual study by JD Power found that clear pricing matters to consumers on automaker websites, so much so that it increases their purchase consideration.
Read More →
Black Book: Weekly Market Update
Used-vehicle market depreciation was the prevailing story in the wholesale market last week.
Read More →
Smaller Is Looking Better
A growing number of Americans in the market for a new vehicle are opting for more affordable options, not waiting for market stability to bite the bullet.
Read More →
U.S. EV Market Slowly Stabilizes
U.S. electric-vehicle interest is slowly stabilizing since a major dip in sales after last year's end of the federal EV tax credit, and hybrids remain the leading electrified power train.
Read More →
Global EV Market Entering New Phase
Automakers are making investments to lower battery costs and optimize production to meet changing consumer needs.
Read More →
Black Book Weekly Market Update
The holiday weekend, not surprisingly, put a drag on wholesale automotive activity last week, analysts observed.
Read More →
Auto Affordability in Context
Cox Automotive points out the complex circumstances that have led to eye-popping vehicle prices.
Read More →
Black Book: Weekly Market Update
Automotive auction inventory increased last week, giving choosy bidders even more leeway.
Read More →