November’s new-vehicle sales, when announced next week, are expected to fall in both volume and pace from last year’s levels.
Sales volume is expected to fall to 1.27 million, down 1% from October and 7.8% from last year’s finish.
“Sales of EVs and PHEVs accelerated in the wake of the Big Beautiful Bill’s passage in early July as buyers rushed to market before the $7,500 tax credits expired at the end of September,” Cox Automotive Senior Economist Charlie Chesbrough noted. “Q3 was the strongest quarter ever for EVs; however, Q4 is a different story. Sales of EVs and plug-in hybrids are now collapsing after tax credits expired.”