Analysts predicted EV sales would drop dramatically in the US following the cancellation of the $7,500 EV tax credit. Most automakers only report quarterly sales, so we only have a few October-specific sales stats to peruse so far. But based on what we've seen, those analysts were spot-on with their predictions. If anything, they may have been a tad too optimistic.
Toyota, for example, didn't just have a steep decline in EV sales. They pretty much fell off a cliff. It's true that Toyota and its Lexus division only have two full-on EVs for sale. But you can literally count on fingers and toes the number of EVs each company sold. Toyota clocked 18 sales, and Lexus beat that by one with 19. Yikes.
bZ4X And RZ Sales Plunge Over 95% Year Over Year
Lexus
Usually, when we see a sales report with vehicles showing a 95% year-over-year sales decline, it's because those models were discontinued and dealers were selling out the remaining stock. The Toyota bZ4X and Lexus RZ are not discontinued, which makes these numbers especially shocking.
Taking a closer look, the Toyota bZ4X actually dropped 98.7% compared to October 2024 when 1,401 SUVs were sold. The slightly more favorable 95.5% drop for Lexus is because the RZ only had 424 sales last year. But here's where it gets weird. The ultra-low sales numbers aren't just a by-product of the expiring tax credit. Looking through Toyota's September sales, the bZ4X and RZ were also way, way down – 86% for Lexus and 95% for Toyota. What gives?
Model Changeover Hits At A Very Inopportune Time
Toyota
We've been talking about the Toyota bZ4X, but earlier this year, Toyota announced the updated version for 2026 with its new, simpler name: bZ. Similarly, the Lexus RZ also gets a refresh for 2026, and it will reach dealerships later in November. As for the 2026 bZ, early examples are just now reaching dealerships. And thanks to a new entry-level trim, its $34,900 starting price is a bit less than the outgoing model. The 2026 RZ starts at $46,000 on the dot; both prices do not include destination fees.
Changes for the electric SUVs include a bit more power, a bit more range, some minor styling updates, and new NACS plugs for accessing the Tesla Supercharger network. And of course, the Toyota's shortened name means it sounds a bit more like a car and less like a Stormtrooper.
Read the full article on CarBuzz
This article originally appeared on CarBuzz and is republished here with permission.
