Sales of new electric vehicles have plunged since federal tax credits ended on Sept. 30.

In November, EVs accounted for 5.3 percent of U.S. new-car and light-truck sales , a share that was less than half the record high in September, according to an estimate published last week by S&P Global Mobility.

The numbers were especially ugly on Tuesday when several automakers released their November figures. Ford said that unit sales of its Mustang Mach-E were down 49 percent compared to the same month in 2024. Hyundai’s Ioniq 5 was down 59 percent . I could go on.

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