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

Ownership Priorities are Shifting
A new survey shows that in the U.S. vehicle quality for generation Z is largely defined by advanced safety features, intuitive technology and premium sound systems.
Read More →
Pump Price Jump Calculated
ISeeCars.com examined fuel costs for different power trains, finding which ones have experienced the biggest hits since the war in Iran commenced.
Read More →
Black Book: Weekly Market Update
Wholesale values fell last week despite the spring season still being in the traditional full-gear mode, analysts said.
Read More →
Arkansas Auto Group Acquires First Indiana Rooftop
Performance Brokerage Services represented both the buyer and seller in the sale of Carver Toyota of Columbus by Carlock Automotive Group.
Read More →
Stellantis to Dive Into U.S. Lending
The multinational maker of Chrysler, Dodge, Jeep, Ram and multiple other brands received conditional approvals for a Utah-based industrial bank.
Read More →
New-Vehicle Prices Rise
With April sales down, higher prices on in-demand large vehicles helped inflate the overall ATP, though increases were under long-term averages, Cox Automotive reported.
Read More →
Black Book: Weekly Market Update
Last week in the wholesale automotive market proved to be a mixed bag, analysts reported.
Read More →
Black Book: Weekly Market Update
Conversion rates were flat last week at 63%, Black Book analysts calculated, as low-mileage and almost-near units outpaced the overall market.
Read More →
EU Auto Association Urges Action
Trade relations between the European Union and the U.S. are at risk, causing the European Automobile Manufacturers Association to push lawmakers to make a decision.
Read More →
Driving into the Super CFC Era
Understanding the risks and benefits of retail accounting and Super CFCs can help you better present options to your dealer partners.
Read More →