Cars.com Names Top EV Picks as Nearly 50% of Shoppers Accelerate Purchases Ahead of Federal EV Tax Credit Expiration Sept. 30 USA - English USA - English
illi News/10313620

Trending...
CHICAGO, Sept. 18, 2025 ~ As the federal EV tax credit approaches its expiration date of September 30, 2025, car-shopping marketplace Cars.com™ (NYSE: CARS) has released its latest findings on the state of the electric vehicle market. The company's research shows that consumers are taking advantage of the savings offered by the tax credit, with a surge in demand for both new and used EVs.

According to Cars.com's survey of 950 respondents, 70% of EV and plug-in hybrid shoppers are aware of the federal tax credit. However, only just over half (53%) know when it will end. The survey also revealed that 78% of consumers consider the tax credit to be a major or contributing factor in their decision to purchase an electric vehicle.

With the looming deadline, nearly half (47%) of those considering an EV purchase say they may accelerate their timeline in order to take advantage of the savings. This sense of urgency is reflected in Cars.com's marketplace, with a 33% increase in demand for new EVs and a 22% increase for used EVs compared to last year.

Aaron Bragman, Detroit Bureau Chief at Cars.com, acknowledges the impact that the federal tax credit has had on making EVs more affordable. However, he reassures consumers that even after September 30, there will still be affordable options available. Bragman points to Cars.com's Top EV Picks as evidence, which includes models such as the Hyundai Ioniq 6 and Ioniq 5, Kia EV9 and Chevrolet Equinox EV.

More on illi News
Cars.com's editors have identified these models as the best EVs for 2026 based on factors such as value, usability, performance and technology. The list also includes categories such as luxury and pickup trucks to cater to different types of buyers.

Despite concerns about potential price increases after the tax credit expires, Cars.com's research shows that new EV inventory has actually grown by 1.4% year over year in August. However, the average price of new EVs has increased by 4.1% due to the introduction of more premium models.

On the used side, inventory has seen a significant increase of 38% compared to last year, with 97 models now available. However, these vehicles are also selling faster, spending an average of just 46 days on the lot compared to 66 days last year. The average price for used EVs has also decreased by 3.8%, with Tesla's average prices falling by 16.2%.

As the federal EV tax credit draws closer to its expiration date, Cars.com's research shows that consumers are taking action to secure their electrified vehicles before the deadline. With a wide range of options available and state and local incentives still in place, it seems that affordable EVs will continue to be a viable option for car buyers even after September 30, 2025.
Filed Under: Business
Show All News | Report Violation

0 Comments

Latest on illi News