Thinking About Buying an EV in 2026? Read This Guide First
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The electric vehicle market is expected to continue growing in 2026, with expanding model choices and evolving incentives for drivers. Despite higher upfront prices, EVs can offer lower total cost of ownership due to fuel savings and reduced maintenance costs.
The electric vehicle market is rapidly expanding globally. In 2026, the market is expected to be shaped by expanding model choices, evolving incentives, and changing federal policy. Global EV sales are on track for a record year, with nearly 22 million units sold. China dominates the rollout of EVs, accounting for nearly two-thirds of global sales. The US experienced a slowdown in 2025, with only around 7% of global EV sales. Key industry developments include expanding model availability and diversification, as well as production and supply chain shifts. EV pricing isn't just about the sticker price, but also total cost of ownership, incentives, and operating costs. New EVs typically carry a higher upfront price, but can offer lower costs over time due to fuel savings and reduced maintenance costs.
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