IHS: EVs Will Reach 7.6% Market Share in 2026
IHS Markit analysts say electric vehicles will account for 7.6% of all new vehicles sold in the United States in 2026, predicting ‘explosive’ growth in a segment driven by rapidly proliferating makes and models.

The upcoming 2020 Mercedes-Benz EQC is among the parade of new all-electric models set to enter the North American market, representing an industrywide investment IHS Markit analysts say will help U.S. EV sales grow 543% by 2026.
Photo courtesy Mercedes-Benz USA
LONDON — The sheer number of new electric-vehicle models advancing on the U.S. auto retail market will help EVs claim 7.6% of all new-unit sales in 2026, according to the latest research by IHS Markit. EVs accounted for only 1.2% of sales in 2018, when 18 such models were available; by 2026, IHS expects that number to grow to 133.
“With several factors driving automakers to invest in a zero-emissions future, IHS Markit forecasts explosive growth in the number of electrified powertrain offerings in the U.S. between 2018 and 2026,” said Stephanie Brinley, the firm’s principal automotive analyst.
Earlier this month, a AAA survey revealed Americans are more likely to believe most new vehicles will be fully autonomous than electric by 2029. In an April 2018 interview with Auto Dealer Today, ChannelNet’s Paula Tompkins urged dealers to keep pace with new standards for efficient sales and effective customer service established by EV manufacturers.
IHS forecasts sales of 1.28 million new electric vehicles in 2026, an 543% increase from the 199,270 sold by U.S. dealers last year. By 2023, 43 established and upstart factories will offer at least one EV option compared with 14 brands offering EVs in 2018, according to the report. Tesla, whose $35,000 Model 3 sedan helped sales of all EVs more than double from 2017 to 2018, is poised to remain the segment leader — for now.
“Automakers across the globe are making massive bets on the future of EVs, with VW perhaps making the most aggressive moves in this segment,” Brinley said. “The investment will support what is expected to be a fundamental shift in propulsion systems offered in the decades to come, with the billions in investment earmarked so far only the beginning of the change.”
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 →