Forecaster Puts EVs at Nearly a Quarter Market Share Soon
J.D. Power report says current adoption rates to result in 24% new-vehicle share by 2026.

Premiums models by Tesla and other makers still dominate the market, so as more mass-market models are launched, adoption will increase, J.D. Power says.
IMAGE: Pixabay/capitalstreet_fx06
Though electric vehicles aren’t taking off as fast as legacy automakers had thought they would, U.S. adoption is growing, and at least one prognosticator says EVs will become much more mainstream in just a few years.
A report by J.D. Power predicts EVs will make up nearly a quarter of new-vehicle sales by 2026.
The data provider points out that various factors impact EV sales volume, from price and incentives fluctuations to available models. Therefore, temporary shifts can result in unusually large short-term numbers.
EVs hit an 8% U.S. new-vehicle market share for the first time in the third quarter, still well behind that of Europe, for instance, where battery-electric registrations reached 14% market share year-to-date in October. Meanwhile, U.S. consumer interest in EV purchases was flat in AAA’s latest annual poll.
But based on current adoption rates, J.D. Power predicts U.S. EV market share will hit 13% by the end of next year and 24% by the close of 2026, despite temporary slowdowns during the period.
It said the launch of more mass-market EVs will be a crucial factor in the upswing, since luxury EVs still dominate the segment. Tesla, which occupies that premium space, is still the U.S. EV market leader.
The higher price tags of typical EVs, along with limited public charging infrastructure, are consistently cited as a top reason consumers opt for hybrids or gas-powered models.
DIG DEEPER: Vehicle Sales Pump Up Global Trade
More Dealer Ops

Ladies and Gentlemen, This Is a Dealership: Why the Fundamentals Still Decide Who Wins
A teaching moment by a legendary football coach happens to apply perfectly in the auto retail space. Learn what it is and how to use it to your store’s advantage.
Read More →
Timing the Market Can Hurt Long-Term Program Performance
For dealer-owned reinsurance entities, avoiding volatility entirely can mean falling behind inflation and missing market rebounds that drive long term surplus growth. Missing just a handful of strong market days can materially impact cumulative returns—an important reminder for long horizon trust and investment strategies.
Read More →
Dealer Ads and the FTC
The agency has made it clear in recent enforcement actions and warnings, in auto retail and other industries, that advertised prices must include all nonoptional costs to the consumer.
Read More →
Used Autos Supply Dwindles
The March shopping surge, despite high prices, cut into inventory by the most since the thick of the pandemic, Cox Automotive analysts calculated.
Read More →
Managing Risk Effectively Through Changing Times
The variables influencing risk pricing have changed significantly over the past five years. Being proactive and responsive to emerging trends is not optional but essential.
Read More →
Survey Reveals What Won't Fix What's Breaking Car Sales
AutoPayPlus says extra-long auto loans are trapping consumers and threatening the dealer trade-in cycle, and that the industry is leveraging the wrong tools to combat high MSRPs.
Read More →
IA American Appoints Two Execs
Senior vice presidents of the company's agent and dealer channels chosen to support general agents and help auto dealers with sales and performance.
Read More →
Cox Automotive Acquires Inspection Firm
Full ownership of Alliance Inspection Management, or AiM, meant to unlock growth for Manheim inspection capabilities
Read More →
Assurant Expands Partnership With Holman
Extended collaboration delivers training, products and performance development to 30 newly acquired Holman dealerships
Read More →
Franchises, Throughput Down in First Half
A handful of states see franchise growth through June, while EV sales per store boost overall business in U.S.
Read More →