EV Registrations Fell By 41% Since Last Year: Here's What Happened

New data from S&P Global Mobility points to a sharp decline in electric vehicle registrations, and therefore sales, from last year. In January 2026, compared to January 2025, EV registrations plummeted by 41 percent. Instead, consumer attention shifted away from EVs and towards gas vehicles and hybrids. Notably, it's the first true decline in electric vehicle market share in years.

These data are based on the light-vehicle market, a segment where most EVs on sale today fit. That includes smaller crossovers, sedans, and SUVs. All told, data shows around 1.2 million new registrations in the segment, with EVs accounting for just 59,802 of those registrations, or 5.1%. S&P uses registration data as opposed to pure sales data, as it's a stronger indicator of what's out on the road right now. Registrations fell to 5.1% from 8.3% the year prior, while gas vehicles rose 2.3 points to 76.6% of total market share. Hybrids stayed largely flat, up just one point to 14.7%. All told, the market saw a dip in registrations in January 2026 compared to the same month in 2025, with 32,123 vehicles registered.

While competitors lost out, Tesla notably managed to buck the trend. It saw a surge in demand, with the brand's share in the EV segment up 11 points to 53.7%. The rest of the segment, though, saw the inverse. Ford fell 3.5 points, GM took a 55 percent tumble, Honda fell by 85%, Volkswagen by 90%, and Acura has been eliminated almost entirely. Its sole EV on sale saw a drop in demand that translated to a 99% fall in registrations.

This has translated to a shift over the last year: automakers are either reinvesting in gasoline engines or extending their lifespans in response to the regulatory flip-flop since President Trump took office, just as they did (inversely) when President Biden took office. Brands are left without regulatory consistency, leading to a rash of EV cancellations or postponements. This, coupled with the end of consumer-facing subsidies at the federal level, has resulted in a sharp decline in demand for a segment that was already on life support in the US.