U.S. average gas price reached $4.00 per gallon yesterday, according to GasBuddy, but S&P Global Mobility data show the rise has not translated into a sustained increase in electric vehicle market share.
General Motors temporarily laid off employees at an electric-vehicle manufacturing plant as demand softened, and automakers broadly cut back production after the end of the Inflation Reduction Act tax credit pulled sales forward late last year.
Volvo is helping Polestar increase production in South Carolina, and BYD raised its export forecast for the year as it seeks growth amid shifting demand.
S&P Global Mobility reports EV share fell from above 12% in September and total monthly vehicle sales declined from about 1.6 million in March 2025 to roughly 1.4 million in the most recent month, while gas prices remain a key variable for buyers.
Read the full article at theautopian.com.
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