Gas prices fuel a cautious rebound in the US EV market

US EV sales rose about 14.7% in Q2 2026 to around 247,000 vehicles, signaling a slow rebound but still a roughly 20% year-over-year drop and a mixed overall picture after the end of the federal EV tax credit. Tesla led the charge, accounting for about one-third of Q2 EVs and roughly half of US sales, while Toyota and Subaru posted notable gains; other automakers pulled back after cutting EVs. High gas prices aren’t ideal, but they’ve nudged some buyers toward EVs, and forthcoming affordable models like Rivian’s R2, Slate Truck, and Ford’s $30k EV could help sustain momentum.