There was no question that when federal tax credits for electric vehicles ran out, the market would see a drop-off. What was a bit surprising was just how brutal the start of 2026 was. Now, though, new sales data suggests that the market is beginning to stabilize.

 

 

New registration figures from S&P Global Mobility, first reported by Autonews, show 89,147 electric vehicles were registered in April, down 9.8 percent compared to the same month last year. That might sound bad, but it represents a significant improvement over the first quarter, when EV registrations plunged 41 percent in January, 37 percent in February, and 25 percent in March.