US EV market in turmoil
The repeal of the $7,500 federal EV tax credit has thrown the U.S. EV market into chaos — automakers are cutting prices, pulling models and reworking lineups to chase demand. Kia plans a lower-priced EV3 for the U.S., Honda cut the Prologue by $7,500 (applied retroactively), and manufacturers are blaming incentive changes for model withdrawals and temporary plant layoffs as used-EV supply floods the market. (journalrecord.com) (topgir.com.ua) (slashgear.com) (autonews.com)
New EV sales fell 28% in Q1 2026 to about 212,600 units while used‑EV transactions rose 12% to roughly 93,500, according to Cox Automotive figures reported in late March 2026. (electrek.co) J.D. Power forecasts roughly 215,000 electric vehicles will come off lease in 2026 — a roughly 230% jump in returning EV lease volume that analysts say will flood used‑vehicle channels. (autoremarketing.com) General Motors idled its Factory ZERO complex mid‑March 2026 and placed about 1,300 workers on temporary layoff as the company said it is aligning EV output to softer demand. (electrek.co) Honda announced a $7,500 reduction to 2026 Prologue pricing across all trims, applied retroactively to dealer inventory, lowering the Prologue’s entry price to roughly $41,000. (autoguide.com) Kia unveiled a U.S.‑spec EV3 at the New York Auto Show with a base single‑motor rating near 261 hp, two battery choices (58.3 kWh for ~220 miles and 81.4 kWh for up to ~320 miles) and an estimated U.S. starting price in the low‑to‑mid $30,000s. (electrek.co) Industry trackers and outlets catalog dozens of model withdrawals and pauses for 2026 — including Volvo’s EX30 among other EVs — and automakers have publicly cited the Sept. 30, 2025 end of the $7,500 federal credit when explaining recent cancellations and production slowdowns. (slashgear.com)
