Nissan has not disclosed exact pricing for the 2026 Nissan Leaf, but hinted it will start in the low $30,000s. A lack of affordable EVs in the U.S. has been holding back sales, analysts say.
New U.S. electric vehicle registrations rose 4.6 percent in June from a year earlier — with Tesla falling and General Motors surging — but EV market share fell for the month and stayed flat for the first half of the year, according to the most recent S&P Global Mobility data.
June’s 113,460 EV registrations represented 8.6 percent of U.S. light-vehicle market share, down from 8.8 percent a year earlier. For the first half of 2025, EV registrations rose 7 percent to 620,642, with market share inching up just 0.1 percentage point to 7.5 percent.
The data, which serves as a sales proxy since some EV makers don’t report U.S. numbers, shows continued flattening of EV market share ahead of the Sept. 30 repeal of the $7,500 federal tax credit.
The S&P Global Mobility numbers include only battery-electric vehicles and not hybrids.
2025 U.S. EV registrations
Change from June 2024
Tesla
57,260
-6%
Chevrolet
9,517
152%
Ford
5,759
-10%
Hyundai
5,227
7%
Rivian
4,613
-7%
Cadillac
4,121
87%
Honda
2,826
254%
BMW
2,740
-21%
Nissan
2,345
-2%
Mercedes-Benz
2,224
16%
Kia
2,065
-61%
Audi
1,870
50%
GMC
1,797
111%
Acura
1,385
530%
Toyota
1,384
2%
Subaru
1,191
2%
Jeep
964
9,540%
Volkswagen
890
-49%
Porsche
878
119%
Lucid
838
52%
Lexus
812
-26%
Volvo
777
148%
Dodge
530
N/A
BrightDrop
388
1,041%
Genesis
336
-43%
Polestar
246
-79%
Mini
192
-21%
VinFast
102
343%
Fiat
73
20%
Fisker
51
-47%
Jaguar
28
-86%
Rolls-Royce
24
-27%
Ram
7
N/A
Source: S&P Global Mobility
“Share has been flat for around three straight years with a little bit of up and down,” said Loren McDonald, chief analyst at EV data analytics firm Paren. New models do well at launch but essentially take sales from other EVs rather than expand the market.
In 2023, EV share was 7.7 percent before rising to 8 percent in 2024, S&P Global Mobility said.
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New hybrid models from Toyota, Honda and others are likely delaying a consumer shift to full-EVs, McDonald said. Buyers are likely waiting for more affordable EVs over the next two years from GM, Nissan, Toyota, Slate Auto and others, he said.
“People who would have maybe gone fully electric are thinking hybrid is the easy choice because I have to make zero changes to my lifestyle and I’ll save money,” said McDonald. “They’re thinking, ‘If I wait a couple of years, they’re going to be way better.’ ”
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Several automakers are promising EVs around $30,000 since affordability has also been a major drag on sales. The average EV transaction price was $56,910 in June, down 2.8 percent year-over-year but $8,785 above non-EVs, Cox Automotive said in July.
Other barriers to EV sales include false narratives around public charging, which is expanding at record pace, and high sticker prices before government and automaker incentives that can bring monthly lease payments to parity with gasoline cars, McDonald said.
In the short term, EV sales are likely to surge in the third quarter as consumers rush to use the tax credit before it expires, analysts said. The Republican budget bill eliminated several clean-energy credits when signed into law in July.
After the EV rush, sales should be muted for several quarters, but by next year, consumers will likely forget about the tax credit and new electric models will reenergize the market, McDonald said.
Cox said the EV market is headed into a more volatile phase with the elimination of support from the government through tax incentives.
“Automakers and retailers alike will need to navigate this next chapter with agility, as the EV landscape becomes more complex and demanding of true market resilience,” Cox said.
The June registration data showed a continuing shift away from market leader Tesla and toward legacy brands, such as Chevrolet and Cadillac, on the strength of fresh models.
Tesla’s registrations fell 6.1 percent to 57,260 vehicles. The Cybertruck dropped 53 percent to 2,184 while the Model 3 grew 31 percent to 17,015, S&P Global Mobility said.
For the first half, Tesla registrations fell 7.5 percent to 271,050 vehicles. Its share of the EV segment dropped 6.8 percentage points to 43.7 percent, the data showed.
Chevrolet ranked No. 2 as June EV registrations rose 152 percent to 9,517 vehicles. The Equinox EV surged 722 percent to 6,239, while the Silverado EV nearly doubled to 1,035, the data showed.
For the first half, Chevrolet’s electric registrations rose 143 percent to 47,506 vehicles. Its share of the EV segment more than doubled to 7.7 percent.
Ford, in third place, saw a 9.5 percent downturn in EV registrations to 5,759 vehicles, S&P Global Mobility said. For the first half, its share of the EV segment slipped 0.7 percentage points to 6.7 percent.
The brands gaining the most market share in the first half, after Chevrolet, included Honda with a gain of 2.5 percentage points, Acura with 1.7 percentage points and Cadillac with 1.1 percentage points.
Kia, the No. 10 brand in the first half, lost 2.6 percentage points of EV market share. Hyundai, No. 4, lost 0.8 percentage points while Rivian, No. 6, also lost 0.8 percentage points.
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