Automakers unveil new EVs for US market despite sales downturn

Major automakers used the New York Auto Show to roll out new EV models despite weak U.S. EV demand after the $7,500 federal tax credit expired. Kia plans to sell a lower-priced EV3 in the U.S. later this year and Subaru unveiled a three-row “Getaway,” while GM has a Bolt now starting at $27,600. The industry group says EV share fell from 9.6% in 2025 to 6.5% in the last three months, and overall EVs made up 10.2% of vehicle sales in 2024 but only 2.5% of vehicles in operation. Higher gasoline prices and revised strategies toward hybrids may partially offset headwinds. The story implies near-term pressure on EV makers (including TSLA.OQ) but possible gradual recovery over several years.