Cars.com Names Top EV Picks as Nearly 50% of Shoppers Accelerate Purchases Ahead of Federal EV Tax Credit Expiration Sept. 30

Core Insights - The federal EV tax credit is set to expire on September 30, 2025, prompting consumers to act quickly to purchase electric vehicles (EVs) before the deadline [1][2] - Awareness of the tax credit is high among consumers, with 70% of EV shoppers aware of it, and 78% indicating it significantly influences their decision to go electric [2] - Demand for new EVs on Cars.com has increased by 33% year over year, while demand for used EVs has risen by 22% year over year [2] Market Trends - New EV inventory grew by 1.4% year over year in August, while average new EV prices increased by 4.1% year over year due to the introduction of more premium models [5] - The used EV inventory surged by 38% year over year, with vehicles selling faster, averaging just 46 days on the lot compared to 66 days a year ago [5] - Tesla's average used EV prices fell by 16.2% year over year, contributing to an overall decline of 3.8% in average used EV prices [5] Consumer Behavior - Nearly half (47%) of potential EV buyers indicated that the elimination of the tax credit may accelerate their purchase timeline, reflecting a sense of urgency in the market [2] - Cars.com has identified top EV picks for 2026, highlighting models such as the Hyundai Ioniq 6, Ioniq 5, Kia EV9, and Chevrolet Equinox EV, which cater to various buyer preferences [3][4][8] Company Overview - Cars.com is the leading automotive marketplace, attracting nearly 26 million in-market consumers each month, providing data and resources to facilitate informed buying decisions [6]