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

Rhea-AI Summary

Cars.com (NYSE: CARS) released findings on the EV market ahead of the federal tax credit expiration on September 30, 2025. The study reveals that 47% of EV shoppers are accelerating their purchase timeline due to the upcoming deadline, with demand on Cars.com increasing 33% YoY for new EVs and 22% YoY for used EVs.

The company announced its Top EV Picks for 2026, including the Chevrolet Equinox EV (Best Value), Hyundai Ioniq 5 (Best 2-Row SUV), Kia EV9 (Best 3-Row SUV), Hyundai Ioniq 6 (Best Electric Car), Lucid Air (Best Luxury EV), and Chevrolet Silverado EV (Best Pickup Truck).

Market data shows new EV inventory grew 1.4% YoY with prices up 4.1% YoY. Used EV inventory surged 38% YoY with faster sales, averaging 46 days on lot versus 66 days last year. Tesla's used prices declined 16.2% YoY.

Positive

• None.

Negative

• New EV prices increased 4.1% YoY due to premium model entries
• New EV inventory growth slowed to just 1.4% YoY in August
• Potential slowdown in EV demand expected after tax credit expiration
• Tesla used vehicle prices dropped 16.2% YoY, affecting overall market values

Insights

Automotive Market Analyst

Cars.com reports strong EV demand growth ahead of tax credit expiration, positioning the platform favorably in the evolving electric vehicle marketplace.

The impending expiration of federal EV tax credits is driving significant traffic to Cars.com's marketplace, with new EV demand up 33% year-over-year and used EV interest up 22%. This acceleration comes as nearly half of potential EV buyers rush to take advantage of credits worth up to $7,500 for new vehicles and $4,000 for used models before the September 30 deadline.

This surge in EV shopping activity represents a meaningful opportunity for Cars.com's core business model, which generates revenue primarily through dealer subscriptions and advertising. The platform's position as a leading automotive marketplace allows it to capitalize on this heightened consumer interest, potentially driving increased page views, user engagement, and dealer value proposition.

The company's data showing that EV inventory grew 1.4% year-over-year while used EV inventory surged 38% demonstrates Cars.com's expanding role in the electric vehicle ecosystem. Particularly notable is the acceleration in used EV transactions, with vehicles spending just 46 days on the lot compared to 66 days a year ago – a 30% reduction in time-to-sale that benefits the platform's dealers.

While the expiration of federal incentives might create a temporary demand slowdown after September, Cars.com appears well-positioned for the evolving EV landscape through its editorial authority (exemplified by its "Top EV Picks") and comprehensive marketplace data. The company's insights into market trends – including Tesla's 16.2% price decline pulling down the overall used market average – further establishes its value to both consumers and dealers navigating the electric transition.

CHICAGO, Sept. 18, 2025 /PRNewswire/ -- Car-shopping marketplace Cars.com™ (NYSE: CARS) today released its latest findings on the state of the electric vehicle market as the federal EV tax credit sunsets Sept. 30, 2025. With savings of up to $7,500 for new EVs and $4,000 for used models set to expire, consumers are acting quickly to secure electrified vehicles before the deadline.

Awareness of the federal EV tax credit is high. While 70% of EV and plug-in hybrid shoppers are aware of the credit, just over half (53%) know when it ends, and 78% say it plays a major or contributing role in their decision to go electric. Nearly half (47%)¹ of EV considerers say the elimination of the credit may accelerate their purchase timeline — urgency that is showing up in the marketplace, with demand on Cars.com up 33% year over year for new EVs and up 22% YoY for used EVs.

"The federal EV tax credit helped make EVs more affordable, and while its expiration at the end of September may slow demand in the short term, it doesn't mean the end of affordable EVs," said Aaron Bragman, Detroit Bureau Chief at Cars.com. "Shoppers are moving quickly to lock in savings, and Cars.com's Top EV Picks, including the Hyundai Ioniq 6 and Ioniq 5, Kia EV9 and Chevrolet Equinox EV, show there are strong options for every type of buyer. And even after Sept. 30, deals won't disappear — many state and local incentives remain, and automakers like Nissan, Chevrolet and Hyundai have already announced new lower-priced models. "

Cars.com's Top EV Picks 
With 77 EV models now available, Cars.com's editors identified the best EVs for 2026 across value, usability, performance and technology:

• Best Value EV — 2025 Chevrolet Equinox EV
  
  
• 2-Row SUV — 2026 Hyundai Ioniq 5
  
  
• 3-Row SUV — 2026 Kia EV9
  
  
• Electric Car — 2025 Hyundai Ioniq 6
  
  
• Luxury EV — 2026 Lucid Air
  
  
• Pickup Truck — 2026 Chevrolet Silverado EV

Cars.com automotive experts selected these models for their range, affordability, family-friendliness and technological innovation — all qualities that stand out as consumers weigh purchase decisions in a shifting market.

Inventory Grows, Prices Diverge, Consumers Buy Faster Before Deadline

New EV inventory grew 1.4% YoY in August, with Chevrolet and Honda scaling back supply due to five EV launches last year, while most other brands expanded. Average new EV prices climbed 4.1% YoY as more premium models entered the market. On the used side, inventory surged 38% YoY to 97 models, but vehicles are moving faster — spending just 46 days on the lot, down from 66 days the same time a year ago. Tesla, which makes up about one-third of used EV listings, saw average prices fall 16.2% YoY, pulling the overall used-EV average down 3.8%.

¹Cars.com consumer survey; Aug. 25-26, 2025; 950 respondents

ABOUT CARS.COM^®

Cars.com is the No. 1 most recognized automotive marketplace visited by nearly 26 million in-market consumers each month. Launched in 1998 and headquartered in Chicago, Cars.com empowers shoppers with the data, resources and digital tools needed to make informed buying decisions and seamlessly connect with automotive retailers. Cars.com is the flagship offering from Cars.com Inc. d/b/a Cars Commerce Inc., an audience-driven technology company empowering automotive that simplifies everything about buying and selling cars. Learn more at www.carscommerce.inc.

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SOURCE Cars.com Inc.

FAQ

When does the federal EV tax credit expire in 2025?

The federal EV tax credit expires on September 30, 2025, offering savings of up to $7,500 for new EVs and $4,000 for used models.

What are Cars.com's top EV picks for 2026?

Cars.com's top picks include Chevrolet Equinox EV (Best Value), Hyundai Ioniq 5 (Best 2-Row SUV), Kia EV9 (Best 3-Row SUV), Hyundai Ioniq 6 (Best Electric Car), Lucid Air (Best Luxury EV), and Chevrolet Silverado EV (Best Pickup Truck).

How has EV demand changed on Cars.com in 2025?

Demand for EVs on Cars.com has increased significantly, with 33% year-over-year growth for new EVs and 22% year-over-year growth for used EVs.

What percentage of EV shoppers are accelerating their purchase due to tax credit expiration?

47% of EV shoppers report they may accelerate their purchase timeline due to the tax credit expiration, with 78% saying the credit plays a major or contributing role in their decision.

How have used Tesla prices changed on Cars.com?

Used Tesla prices have declined 16.2% year-over-year, contributing to an overall 3.8% decrease in average used EV prices.