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Ford Mustang Mach-E EV vehicles at a Ford dealership in Los Angeles, California, US, on Thursday, Oct 16, 2025. Kyle Grillot | Bloomberg | Getty Images DETROIT — Sales of all-electric vehicles collapsed last month following the end of up to $7,500 in federal incentives for purchasing an EV, several automakers said Monday. Ford Motor, Kia, Hyundai Motor and Toyota Motor reported massive declines in EV sales as many buyers pulled ahead purchases before the credits ended under changes by the Trump administration. Ford, which ranked third in U.S. EV sales through the third quarter, reported a 25% drop in its year-over-year all-electric October sales. That included a 12% decline for its Mustang Mach-E crossover and a 17% fall for the F-150 Lightning. Toyota reported it sold 18 units of its sole all-electric vehicle, named the BZ, in October. That was down from 1,401 units a year earlier and 61 vehicles the month before. Kia and Hyundai reported their top EV models dropped between 52% and 71% from a year earlier. The declines are notably greater when looking month to month, as September marked the end of a record quarter for EV sales in the U.S. ahead of the credits ending. Some models, such as Hyundai’s Ioniq 5 and Ioniq 9 EVs, fell by 80% and 71% from September to October, respectively, according to its reported sales. It was a similar story for comparable vehicles at Kia, which is owned by Hyundai Motor but largely operates separately in the U.S. “While the expiration of the federal tax credit impacted EV sales in the month of October, we still saw strong demand leading up to that change, and we remain confident that the market is going to reset,” Hyundai Motor North America CEO Randy Parker told CNBC during a Monday interview.…

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Filed under: News - @ November 3, 2025 5:28 pm