Gas price spikes led to uptick in EV searches. So where are the sales?
Keith Laing- Rising gas prices, linked to the Iran war, have increased American interest in electric vehicles.
- Analysts suggest the market is normalizing, with demand driven more by genuine interest than by external factors.
More Americans are browsing online for electric cars as they grapple with gas prices that spiked because of the Iran war. But thus far, that elevated EV interest has not translated into sales.
The number of visitors who searched Edmunds.com for specific electric makes or models increased from 9.6% in February 2026 to 11.6% in March 2026, the group said. But EV sales in March remained flat at 6.2% of all new car purchases, up slightly from 6% in February 2026.
Jessica Caldwell, Edmunds’ head of insights, said the data shows car shoppers are looking at EVs, but they are not necessarily ready to buy them.
"EV market share has settled back into a narrower range, and while growth isn’t accelerating, it also isn’t collapsing," Caldwell said in a statement. "That stability may ultimately be a healthier signal for the industry. It suggests the market is beginning to normalize, with demand driven less by short-term incentives or external shocks and more by consumers who are genuinely ready to make the switch.”
The findings come as the national average gas price rose to $4.16 per gallon on April 8, according to the AAA Auto Club. That figure is up from a national average of $3.12 on February 27, which was one day before the United States launched its first military strikes of the Iran war.
How much has electric car interest changed in recent months?
Edmunds said the percentage of searches for electric cars on its website last exceeded 10% in September 2025, which was the last month the $7,500 federal tax credits for EVs and some hybrids were still available.
Here's how the interest in EVs fared in recent months:
- August 2025: 11.3%
- September 2025: 11.8%
- October 2025: 9%
- November 2025: 9.2%
- December 2025: 9.8%
- January 2026: 9.6%
- February 2026: 9.6%
- March 2026: 11.6%
Caldwell, the Edmunds analyst, wrote: "EV consideration has edged higher on Edmunds, but the increase is modest – especially when compared to the surge seen in 2022 following the Russian invasion of Ukraine, when fuel prices triggered a more substantial shift in consumer behavior."
"Even then, increased interest didn't translate into instant sales," Caldwell said. "EV market share climbed from 4.4% to 5.2% between March and June of that year before leveling off, influenced by factors other than gas prices."
What are the top selling EVs?
EV sales accounted for 9.6% of U.S. auto sales in 2025, according to the Alliance for Automotive Innovation.
Here are the top selling EV models in 2025, according to Cox Automotive:
1. Tesla Model Y
List price: $39,990
2025 Sales: 372,613
2. Tesla 3
List price: $36,990
2025 Sales: 192,440
3. Chevrolet Equinox EV
List price: $33,600
2025 Sales: 57,945
4. Ford Mustang Mach-E
List price: $37,795
2025 Sales: 57,945
5. Hyundai Ioniq 5
List price: $36,600
2025 Sales: 47,039