Cars.com Names Top EV Picks as Nearly 50% of Shoppers Accelerate Purchases Ahead of Federal EV Tax Credit Expiration Sept. 30

Key Findings

• 70% of EV and PHEV shoppers are aware of the tax credit.
• Only 53% know the exact expiration date.
• 78% say the credit is a major or contributing factor in their EV purchase decision.
• 47% of EV considerers may accelerate their timeline.
• Cars.com demand is up 33% YoY for new EVs and 22% YoY for used EVs.

CHICAGO (Sept. 18, 2025) — Car-shopping marketplace Cars.com™ (NYSE: CARS) today released its latest findings on the state of the electric vehicle market as the federal EV tax credit sunsets Sept. 30, 2025. With savings of up to $7,500 for new EVs and $4,000 for used models set to expire, consumers are acting quickly to secure electrified vehicles before the deadline.

Awareness of the federal EV tax credit is high. While 70% of EV and plug-in hybrid shoppers are aware of the credit, just over half (53%) know when it ends, and 78% say it plays a major or contributing role in their decision to go electric. Nearly half (47%)¹ of EV considerers say the elimination of the credit may accelerate their purchase timeline — urgency that is showing up in the marketplace, with demand on Cars.com up 33% year over year for new EVs and up 22% YoY for used EVs.

Expert Insight

“The federal EV tax credit helped make EVs more affordable, and while its expiration at the end of September may slow demand in the short term, it doesn’t mean the end of affordable EVs,” said Aaron Bragman, Detroit Bureau Chief at Cars.com. “Shoppers are moving quickly to lock in savings, and Cars.com’s Top EV Picks, including the Hyundai Ioniq 6 and Ioniq 5, Kia EV9 and Chevrolet Equinox EV, show there are strong options for every type of buyer. And even after Sept. 30, deals won’t disappear — many state and local incentives remain, and automakers like Nissan, Chevrolet and Hyundai have already announced new lower-priced models. ”

Cars.com’s Top EV Picks 2026

With 77 EV models now available, Cars.com’s editors identified the best EVs for 2026 across value, usability, performance and technology:

• Best Value EV — 2025 Chevrolet Equinox EV
• 2-Row SUV — 2026 Hyundai Ioniq 5
• 3-Row SUV — 2026 Kia EV9
• Electric Car — 2025 Hyundai Ioniq 6
• Luxury EV — 2026 Lucid Air
• Pickup Truck — 2026 Chevrolet Silverado EV

Cars.com automotive experts selected these models for their range, affordability, family-friendliness and technological innovation — all qualities that stand out as consumers weigh purchase decisions in a shifting market.

Market Trends: Inventory Grows, Prices Diverge, Consumers Buy Faster Before Deadline

New EV inventory grew 1.4% YoY in August, with Chevrolet and Honda scaling back supply due to five EV launches last year, while most other brands expanded. Average new EV prices climbed 4.1% YoY as more premium models entered the market. On the used side, inventory surged 38% YoY to 97 models, but vehicles are moving faster — spending just 46 days on the lot, down from 66 days the same time a year ago. Tesla, which makes up about one-third of used EV listings, saw average prices fall 16.2% YoY, pulling the overall used-EV average down 3.8%.

¹Cars.com consumer survey; Aug. 25-26, 2025; 950 respondents