On September 30, the U.S. Energy Information Administration (EIA) pointed out that the decelerating demand for electric vehicles (EVs) has resulted in the slowest growth rate of electricity consumption for EVs across the United States in at least three years, a further sign of a cooling EV market. Data released by the EIA on Wednesday indicated that electricity consumption by light-duty EVs, including passenger cars, increased by 8% year-on-year in the first half of 2026. This growth rate is notably lower than the recent rates, which ranged from 13% to 24%. The peak growth rate of 24% was observed in the second half of 2023. Simultaneously, market demand is also on the decline, as the federal tax credit policy that previously lowered purchase and lease costs expired in September 2025. According to EIA data, new EV sales in the U.S. dropped by 19% in the first half of 2026 compared to the preceding six months. Moreover, manufacturers like Ford and Honda have scaled back production of EV models with poor sales since the end of last year. Nevertheless, electricity consumption by light-duty EVs has more than doubled since 2023, reaching nearly 14 billion kilowatt-hours in the first half of this year.