#United States #Chicago #electric vehicles #Cars.com #EV Tax Credit

Cars.com Unveils Top Electric Vehicle Picks as Purchase Urgency Increases

As the end of September approaches, awareness about the federal electric vehicle (EV) tax credit is high among car shoppers. Cars.com™, a leading online automotive marketplace, recently released insights indicating that nearly 50% of potential EV buyers are accelerating their purchase decisions in light of the impending expiration of government incentives.

With these tax credits offering up to $7,500 in savings for new electric vehicles and $4,000 for used ones, many consumers are motivated to act swiftly before the deadline. According to recent findings, 70% of EV and plug-in hybrid shoppers are aware of the credit, but only 53% know the exact expiration date. 78% reported that this financial incentive plays a significant role in their decision to switch to electric.

Growing Demand and Cars.com’s Top Picks

In light of the consumer urgency, Cars.com reported a significant increase in demand for electric vehicles — a 33% rise year over year for new EVs and a 22% increase for used models. The marketplace’s Detroit Bureau Chief, Aaron Bragman, commented on the matter, stating, "The federal EV tax credit has made electric cars more accessible. Although its expiration might temporarily hinder demand, it doesn’t signify a complete halt in the availability of affordable electric options."

Cars.com has curated a list of its Top EV Picks for 2026, featuring vehicles that cater to diverse consumer needs. The standout selections include:

• - 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

These recommendations are based on criteria such as range, affordability, family suitability, and innovative technology. As such, they reflect the evolving preferences of buyers in a fast-changing market.

Inventory and Pricing Dynamics

Additionally, Cars.com noted a 1.4% yearly increase in new EV inventory through August, with some brands like Chevrolet and Honda reducing their stock due to multiple EV launches the previous year. In contrast, many rival manufacturers are expanding their offerings. The upward trend has also been evident in average new EV prices, which rose by 4.1% year over year due to more premium models entering the fray.

On the used EV front, the inventory surged significantly by 38% year over year, reaching an impressive 97 different models. However, there's been a notable speed in sales, with vehicles now averaging just 46 days on display — a decrease from 66 days last year. This dynamic is particularly interesting given that Tesla, which constitutes roughly one-third of used EV listings, has seen its average prices decrease by 16.2% year over year, contributing to a broader 3.8% decline in overall used EV values.

In conclusion, as the federal EV tax credit nears expiration, consumers are more motivated than ever to explore their options and make informed purchases. Cars.com stands at the forefront, empowering car buyers with the latest insights and trends in the electric vehicle market, ensuring they connect with the best deals, even beyond the impending deadline.

For more information on Cars.com, you can visit Cars Commerce Inc..