Electric vehicle sales hit record ahead of tax credit's end

Americans bought 438,500 electric cars and trucks in the third quarter, as drivers raced to grab federal incentives before they expired Sept. 30.

Those transactions, the highest number in a single quarter, comprised 11% of all new car sales, eclipsing the previous high point of 8.7%, according to Cox Automotive, a services and technology company.

A crowd of more affordable cars next year could help maintain the momentum, but analysts expect EV transactions to dip in the months ahead without federal tax credits.

Stephanie Valdez Streaty, Cox director of industry insights, said in a report EVs could account for one quarter of all new U.S. car sales by 2030. That’s “well short of the 50% once envisioned, but certainly moving out of the ‘niche’ category.”

The sales tally underscores a tric