US EV Sales Plummet 41% in January 2026; Tesla's Market Share Rises to 53.7%

US EV registrations dropped 41% year-over-year in January 2026, despite Tesla's market share climbing to 53.7%. Honda, Hyundai, and Kia canceled or delayed EV programs. The contraction reflects converging headwinds: federal tax credit elimination, rising energy costs from the Iran conflict, and consumer sentiment shift away from electrification.