That is indeed what we are seeing. Days of supply in July dropped from 130 days (yikes!) to 87.
Cox found that new EV days of supply fell sharply to 87 days, down 32.3% month over month and 49% year over year…“With the IRA tax credit set to expire at the end of September, urgency is likely to remain high, positioning the EV market for continued strength through the remainder of Q3,” Cox director of insights Stephanie Valdez Streaty wrote in the report.
Indeed, once the tax credit is gone and delivery is completed, EV sales will likely take a steep dive in Q4.
In October GM took a $1.6 billion hit on EVs. Three months later we read that…
“Our review of EV capacity and investments continued throughout the fourth quarter and, as a result, we expect to record charges of approximately $6 billion in the 3 months ended December 31, 2025, primarily in GMNA (GM North America),” the company said in the filing…
GM said it expects to recognize additional cash and non-cash charges related to its EV business in 2026, but the company believes those “will be significantly less than the EV-related charges incurred in 2025.”