Americans Still Aren't Buying EVs Despite High Gas Prices

Key Points:

• U.S. electric vehicle (EV) sales have dropped 30.7% through September 2026, accounting for only 6% of overall sales, a decline attributed to the Trump administration’s rollback of EV support, fuel-efficiency regulations, and restrictions on Chinese-made vehicle software.
• In contrast, Europe’s EV market continues to grow, with EVs making up 23.2% of new car sales, supported by ongoing incentives and infrastructure investments despite rising gas prices linked to geopolitical tensions.
• Sales of large trucks and luxury SUVs in the U.S. are slowing, with increased inventory levels due to reduced demand, while smaller, more fuel-efficient crossovers remain popular among buyers.
• The U.S. Department of Transportation has granted a five-year exemption to autonomous trucking companies like Aurora and Waymo, allowing them to use warning beacons instead of legally mandated reflective triangles on stopped trucks, facilitating driverless operations.
• Polestar faces a U.S. sales ban on 2027 models, with its 2026 inventory nearly sold out; despite a slight increase in third-quarter sales, the Swedish electric automaker’s future in the U.S. market looks uncertain.