Between March and May 2026, hybrid vehicle sales rose 18% while fully electric vehicle sales fell 16%, even as the average gasoline price climbed from $2.94 to $4.35 per gallon. The decline was driven partly by the end of federal tax credits and reduced electric vehicle production, which created shortages and narrowed discounts. New electric vehicle inventories fell from about 130 days of supply in the first quarter to 78 days in August, while their median price was still 4.7% below the sticker price in June. According to the author, Donald Trump’s policies conflated a change in supply with declining consumer demand, leaving Americans with fewer affordable electric vehicle options despite volatile oil prices.
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