EV Sales Crash: If you thought the electric vehicle (EV) era would be accelerating, October tells a different story. EV showrooms were crowded in September, as long as the government’s $7,500 federal EV tax credit was in place. But as soon as this tax benefit ended, sales plummeted. Few automakers release monthly figures, and the picture that has emerged is worrying for the EV market.

EV Sales Crash: Korean Companies Most Impacted

Brands like Hyundai and Kia suffered a major setback in October 2025. Sales of the Hyundai Ioniq 5, which was among the top 5 EVs until the third quarter of this year, declined by 63%. While 4,498 units were sold in October last year, only 1,642 units reached customers this year. The Kia EV6 fared even worse its sales plummeted 71% to just 508 units.

The luxury Genesis GV60 also saw sales decline by 54% to just 93 units. The Hyundai Ioniq 6 sedan also saw a 52% decline, while the new Ioniq 9, which had surpassed 1,000 units a few months ago, now stands at just 317 units. Sales of the Kia EV9 also fell 66% to 666 units.

EV Sales Crash: Honda’s situation is the worst.

Honda had an even tougher month. Sales of its popular electric SUV, the Honda Prologue, declined by 81%. Sales of the company’s popular electric SUV, the Honda Prologue, fell from 4,130 units in October 2024 to just 806 units this year. This decline illustrates how rapidly demand for EVs has cooled without tax credits.

Ford Shows Slightly Better Position

Ford’s EV range performed slightly better than other companies, but it also experienced declines. Mustang Mach-E sales fell 12% to 2,906 units. The F-150 Lightning saw a 17% decline, while E-Transit van sales plummeted 76% to just 260 units.

EV Sales Crash: What will happen in the coming months?

This picture is not complete, as many major companies, such as General Motors, Toyota, Nissan, and Volkswagen, only release their figures on a quarterly basis. Companies like Tesla and Rivian don’t even report model-specific sales. Nevertheless, such a significant decline for four of the top 10 EVs indicates that consumer interest in the market is waning without the tax credit.

All eyes are now on year-end data only then will it be clear whether the October decline was a temporary setback or the beginning of a new challenge for the electric vehicle industry.

Disclaimer: The information in this article is based on public sales reports. This article is for informational purposes only, not to promote or criticize any company or product.