CHICAGO, September 18, 2025 – As the clock ticks down to the sunset of the federal EV tax credit on September 30, 2025, the electric vehicle market is experiencing a surge in activity. Cars.com (NYSE: CARS), a leading online car marketplace, reports heightened consumer urgency to secure new and used EVs before savings of up to $7,500 for new models and $4,000 for used models disappear.
Cars.com’s data reveals high awareness of the federal EV tax credit among EV and plug-in hybrid shoppers, with 70% knowing about it. However, only slightly more than half (53%) are aware of the impending expiration date. Crucially, 78% of these shoppers indicate that the tax credit plays a significant role in their decision to transition to electric vehicles. This incentive is proving to be a major catalyst, with nearly half (47%) of potential EV buyers indicating that the deadline is accelerating their purchase plans. The increased urgency is evident in Cars.com’s market data, which shows a 33% year-over-year surge in demand for new EVs and a 22% increase for used EVs.
“The federal EV tax credit acted as a substantial financial lever, pulling forward EV adoption,” says Aaron Bragman, Detroit Bureau Chief at Cars.com. “While its sunset may create a temporary lull, it’s not the death knell for EV affordability. Savvy shoppers are racing to lock in these final savings. Our Cars.com Top EV Picks highlight compelling options like the Hyundai Ioniq 6 and Ioniq 5, the Kia EV9, and the Chevrolet Equinox EV, catering to a variety of buyer needs. Furthermore, even post-September 30th, the market won’t dry up. State and local incentives endure, and automakers such as Nissan, Chevrolet, and Hyundai have signaled their commitment to affordability through the introduction of lower-priced models, signaling a strategic shift towards broader market penetration and long-term EV adoption.”
Cars.com’s Top EV Picks
With the EV landscape now boasting 77 models, Cars.com has curated a list of top picks for 2026, specifically evaluating each vehicle on metrics such as value, usability, performance, and technology.
The Cars.com experts selected these models based on several attributes, namely range, affordability, family practicality and advancement in technology, which distinguishes them in a shifting landscape for consumers weighing up their options.
Inventory, Pricing Dynamics, and Accelerated Sales
New EV inventory saw a modest increase of 1.4% year-over-year in August. Noteworthy is the strategic pullback in supply from Chevrolet and Honda, as they transitioned to a new EV lineup following five EV launches last year, indicating that they are recalibrating their supply chains to meet new demands. While average new EV prices showed a 4.1% year-over-year rise, this reflects a shift towards higher-end models entering the market. Inventory of used EVs jumped 38%, encompassing 97 models; these vehicles are selling more quickly, spending only 46 days on dealer lots compared to 66 days a year ago. Tesla, accounting for roughly one third of used EV listings, experienced a significant 16.2% year-over-year drop in its average price, driving overall used EV prices down by 3.8% . This pricing trend reflects Tesla’s ongoing adjustments to market dynamics and competitive pressures.
Cars.com consumer survey; Aug. 25-26, 2025; 950 respondents
ABOUT CARS.COM®
Cars.com is a leading automotive marketplace, attracting nearly 26 million in-market consumers each month. Founded in 1998 and headquartered in Chicago, Cars.com empowers car shoppers with data, resources, and digital tools to make informed buying decisions and connect with automotive retailers effortlessly. Cars.com represents the flagship brand for Cars Commerce Inc., a tech-driven company simplifying the car-buying and selling experience. Learn more at www.carscommerce.inc.
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