EV Sales Drop Sharply in October After Loss of Federal Incentive

Electric vehicle sales hit the brakes hard in October, a wild swing from September’s frantic buying spree when folks were clawing for that sweet $7,500 federal tax credit before it vanished. Now, with the cash grab gone, early numbers from automakers paint a bleak picture: demand’s plummeting like a lead balloon.

The Korean carmakers got walloped worst. Hyundai’s Ioniq 5, once riding high in America’s EV sales charts, nosedived 63% year-over-year to just 1,642 units. Kia’s EV6? A brutal 71% collapse, scraping by with 508 sales. Even Genesis’ sleek GV60, which had been holding steady, tumbled 54% to a pathetic 93 deliveries. Let’s be real: this wasn’t a dip—it was a free fall.

Hyundai’s entire lineup felt the sting. The Ioniq 6 shed 52% of its sales, limping to 398 units. And the Ioniq 9, which had been cruising past 1k monthly sales like clockwork, barely mustered 317 in October. Kia’s EV9 fared no better, crashing 66% to 666 units—spooky number, spooky drop. Meanwhile, Genesis’ Electrified GV70? A measly 15 sales versus 154 last year. Ouch.

Honda’s woes were deeper. The Acura ZDX, barely out of the gate, already got the axe, leaving the Prologue to carry the torch. And how’d that go? Down 81% to 806 units. With zero news on the 2026 model, the Prologue’s future looks about as stable as a house of cards in a hurricane.

Ford’s electric stable held up… kinda. The Mustang Mach-E took a 12% hit (2,906 units), while the F-150 Lightning skidded 17% to 1,543. The E-Transit van? Forget about it—76% nosedive, landing at 260 sales. Yikes.

Here’s the kicker: we’re still missing half the puzzle. Big players like Tesla and Rivian won’t spill their model breakdowns, and plenty of automakers report quarterly, so who knows how ugly it really is? But with four of the year’s top-selling EVs tanking in October, one thing’s clear: strip away Uncle Sam’s cash cushion, and suddenly, the EV hype train looks a lot shakier. Was this just a blip? Or are we staring down the barrel of a full-scale slowdown? The year-end numbers won’t lie.