The US automotive market has just experienced one of the most intense quarters in its recent history. With 438,500 electric cars and trucks sold between July and September 2025, the figures broke all previous records. But behind the enthusiasm, experts warn that this boost could only be a temporary effect.

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A good part of the boom is explained by the rush of consumers to take advantage of federal tax credits, which expired on September 30.

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That "final push" was decisive in reaching an 11% share of total new car sales, easily surpassing the previous record of 8.7%. However, the subsequent scenario seems much more uncertain.

The incentive boost: a double-edged sword

The Cox Automotive report reveals that nearly 90 electric models registered sales during that period, although only nine of them exceeded 10,000 units. Among the most notable, the Tesla Model Y and Model 3 continued as undisputed leaders, with 114,000 and 53,000 units sold respectively.

The most striking case was that of the Chevrolet Equinox EV, which reached almost 25,000 units sold in its first full quarter, ranking as the third best-selling electric car in the country. Thanks to this, General Motors (GM) achieved a 15% growth in market share, compared to 10% the previous year.

However, the concern lies in what comes next. With the elimination of subsidies, the economic appeal of electric vehicles diminishes and their competitiveness against hybrids or combustion models is once again in question.

Between euphoria and caution: the immediate future

Despite the projected slowdown, experts say electric vehicles are no longer a niche curiosity. As Stephanie Valdez Streaty, director of industry insights at Cox Automotive, noted: “Electric vehicles could account for a quarter of all new car sales in the U.S. by 2030. That’s well below the 50% we had anticipated, but it certainly moves out of the ‘niche’ category.”

Her statement reflects a shift in thinking: the public is now familiar with the technology, but cost remains a significant barrier.

Price, the Big Obstacle

The average price of an electric car remains a challenge for the average American consumer. Although some models are starting to approach more affordable ranges—such as the Chevrolet Equinox EV, which costs around $35,000, or the new version of the Bolt, with prices starting at $29,000—it's still not enough to attract those looking for low-cost options.

The elimination of tax credits exacerbates the problem. Without incentives, many potential buyers prefer to opt for a hybrid, which is more economical and has greater range.

Even so, recent growth shows that interest is there. The challenge will be maintaining it without depending on government aid.

Tesla loses ground, but remains in the lead

Although Tesla's dominance in the US market continues, its hegemony is no longer what it once was. Elon Musk's brand accounted for 41% of total electric sales in the quarter, far from the 80% it held just a few years ago.

Far from being bad news, this decline reflects a more competitive market. Rivals such as GM, Hyundai, Kia, and Ford are managing to position solid models in terms of performance and price, helping to diversify the offering.

GM, for example, registered 66,501 electric vehicle sales in the quarter, a 110% increase over the previous year. Its commitment to the Equinox EV has been key to this leap, consolidating it as the second best-selling electric vehicle in the United States.

Lights and shadows for manufacturers

It's not all good news for manufacturers. GM acknowledged that it will take an extraordinary charge of $1.6 billion due to a possible drop in demand after the end of subsidies.

Meanwhile, LG Energy Solution, a battery supplier to several manufacturers, reported a 34% increase in quarterly profits, driven precisely by the surge in purchases prior to the expiration of the tax credit.

This behavior makes it clear that the effect of the incentives was temporary and concentrated in the months prior to their expiration.