Trump Cut EV Tax Credits. Here Are the Winners and Losers a Year Later

President Donald Trump eliminated the $7,500 U.S. tax credit for electric-vehicle buyers on Sept. 30, 2025, after Republicans passed the law and Trump signed it immediately. A year later, the EV market picture shows both knock-on effects and partial rebounds. EV sales have fallen since the change, though higher gas prices in 2026 have boosted demand for plug-in vehicles. Carmakers also canceled low-selling EV models they could no longer discount, and some revived gas-powered nameplates. Cox Automotive reports that 2026 new-car sales total has stayed near 2025’s pace, but EVs are about 6% of new sales versus nearly 10% last year. Winners cited include Tesla, Toyota and Hyundai.