Subsidies before the decline of electric vehicles attract a wave of buying frenzy! Record sales of electric vehicles in the United States in the third quarter, with a market share exceeding 11% for the first time.

In the third quarter of this year, sales of electric cars and trucks in the US market reached 438,500 units. Consumers are rushing to accelerate the purchase process in order to qualify for the federal subsidy policy expiring on September 30. According to data from service and technology company Cox Automotive, this sales figure set a new historical high for a single quarter, accounting for 11% of total new car sales in the US, surpassing the previous peak of 8.7%. Although several affordable electric car models are expected to continue this growth trend next year, analysts predict that electric car sales may decline in the coming months following the cancellation of federal tax credits. Stephanie Valdez Streaty, Industry Insights Director at Cox Automotive, pointed out in the report that by 2030, electric cars may account for a quarter of new car sales in the US. She stated that this proportion, although far lower than the previously envisioned 50%, has undoubtedly moved out of the "niche" category. The sales data highlights the complex situation faced by automotive executives and environmental advocates: millions of American consumers intend to buy electric cars, but the high price remains a major obstacle to their popularization. Tesla, Inc. (TSLA.US) still dominates the US electric car market, achieving a slight increase in sales this quarter after experiencing several months of sales decline. However, many competitors are quickly narrowing the gap, and Tesla, Inc.'s market share of electric cars has dropped from 80% four years ago to 41%. General Motors Company (GM.US) has made rapid progress in electrification. With the new Chevrolet Equinox, currently the third best-selling electric car in the US, General Motors has increased its market share to 15% this quarter, up from 10% in the same period last year. Compiled data shows that in the first half of this year, nearly half of American consumers did not use any federal subsidies when purchasing electric cars. Currently, there are at least 11 electric car models on the US market with starting prices below the average transaction price for new cars. For example, the price of the Chevrolet Equinox is around $35,000, while the newly released Bolt model has a price as low as $29,000. However, at least in the short term, the road to development for electric cars is still fraught with challenges. Institutions predict that by 2030, as federal subsidies are discontinued, the market share of electric cars in the US will decrease to 27%, lower than the previous estimate of 48%. S&P Global, Inc. expects that the market share of electric cars in new car sales this quarter will be less than 7%. "The affordability issue will worsen," said Peter Nagle, Deputy Director at S&P Global, Inc., "This is undoubtedly a key point that is crucial for survival." Meanwhile, the used electric car market is booming, and more affordable electric models are now in production. Institutions predict that within the next three years, the US market will see at least 9 new electric sedans and trucks priced below $40,000. Hakan Samuelsson, CEO and President of Volvo (VLVLY.US), revealed that the company will achieve a "major breakthrough" next year, launching electric cars with longer ranges and lower prices. "The trend towards electrification in the automotive industry is irreversible," he said, "The transition in some regions may take longer, but the overall direction is very clear."