Despite the cancellation of the tax credit (which really didn’t lower prices, it just subsidized manufacturers),
Per J.D. Power, more than half of new vehicle shoppers (59.7%) say they are “very likely” (24.2%) or “somewhat likely” (35.5%) to consider buying or leasing an EV in the next 12 months. The number of people who are actively looking for a new car and are “very likely” to consider an EV is up 2.6 percentage points from September and is now at its highest level since January.
This might not mean much today, but it will mean a lot next year, when no fewer than 243,000 franchise EV leases will come to an end. Seeing how 94% of current owners say they won’t go back to gas, many of them will likely buy or lease a new EV, putting them back on the market. For reference, 62% of people who returned an EV at the end of the lease in 2025 chose to buy or lease another one, according to the data intelligence company.