作者：Kara Carlson 和 Gabrielle Coppola就在美国购车者似乎已将电动汽车抛诸脑后之际，汽车市场的这一板块却出现了新的生机迹象。
By Kara Carlson and Gabrielle Coppola Just when it seemed American car buyers had left electric vehicles for dead, there are new signs of life in that corner of the auto market.
特斯拉和 Rivian 汽车公司均公布了好于预期的第三季度电动汽车销量。现代汽车公司和福特汽车公司的高管表示，随着客户回流，经销商正在要求增加电池动力车型的库存。即使是丰田汽车公司和通用汽车凯迪拉克品牌的一些低产量车型也正在获得动力。
Tesla Inc. and Rivian Automotive Inc. each posted better-than-expected EV sales for the third quarter. Executives at Hyundai Motor Co. and Ford Motor Co. say dealers are asking for more battery-powered inventory to sell as customers come back. Even some lower-volume models from Toyota Motor Corp. and General Motors Co.’s Cadillac brand are gaining momentum.
所有迹象表明，电动汽车需求在经历了去年与慷慨的美国电动汽车购车税收抵免取消挂钩的繁荣与萧条后，开始趋于稳定。
It all points to EV demand that’s beginning to stabilize after last year’s boom-and-bust tied to the cancellation of generous US tax credits for EV buyers.
现代汽车北美业务首席执行官 Randy Parker 表示：“由于战争，由于油价，我们也看到了电动汽车销量的上升和复苏。我有越来越多的经销商在询问电动汽车产品。”
“Because of the war, because of gas prices, we’ve also seen a rise and a recovery in EV sales,” said Randy Parker, chief executive officer of Hyundai’s North America business. “I’ve got more and more dealers now asking for EV product.”
共和党支持的立法由唐纳德·特朗普总统签署生效，一年前取消了联邦政府 7500 美元的电动汽车税收抵免，这是他推动拆除所谓“电动汽车强制令”的一部分。即将到来的取消引发了一波短暂的销售激增，推动电动汽车市场份额在去年第三季度升至近 11% 的历史高位。
Republican-backed legislation signed by President Donald Trump eliminated the federal government’s $7,500 EV tax credit a year ago, part of his push to dismantle what he calls an “EV mandate.”The looming cancellation triggered a brief surge in sales, pushing EV market share to an all-time high of nearly 11% in last year’s third quarter.
随之而来的不可避免的下滑让经销商积压了大量未售出的电动汽车，许多汽车高管在寻找没有补贴帮助的美国电动汽车自然需求水平。这一水平开始变得清晰可见。
The inevitable decline that followed left dealers with a glut of unsold EVs and many auto executives searching for a natural level of US demand for EVs, without help from subsidies. That is beginning to come into clearer view.
据研究机构 Cox Automotive Inc. 称，今年电动汽车销量已稳定在美国市场的 6% 左右。
EV sales have stabilized at close to 6% of the US market this year, according to researcher Cox Automotive Inc.
经销商也已消化了大部分过剩库存，电动汽车库存从 2026 年初约 180 天的供应量降至 8 月的 78 天，大致与燃油车的行业库存水平持平。
Dealers have also sold through much of that excess inventory, going from about a 180-day supply of EVs in early 2026 to 78 days worth in August, roughly in line with industry stocks of vehicles with combustion engines.
美国对电动汽车的需求仍受到一年前电池车所面临的那些相同障碍的限制，包括不完善的充电基础设施、高昂的售价、选择有限，以及消费者担心电量耗尽——也就是通常所说的“里程焦虑”。事实上，许多汽车制造商仍报告称电动汽车的年度销量疲软。尽管高油价提升了跳过加油站的吸引力，但电动汽车需求井喷的现象并未出现。相反，消费者正在抢购油电混合动力车以及二手电动汽车，后者的价格甚至与传统燃油车相当。
US demand for EVs continues to be limited by the same hurdles battery-powered cars faced a year ago, including spotty charging infrastructure, high sticker prices, lack of choices and consumers worried about running out of juice, commonly known as “range anxiety.”To be sure, many automakers continue to report weak year-over-year EV sales. Even with high gas prices boosting the appeal of skipping the fuel pump, a demand boom for new EVs has not materialized. Instead, shoppers are snapping up gas-electric hybrids, as well as used EVs, which can be had for prices similar to their conventional counterparts.
不过，本周最新的一系列季度销售报告显示，情况正开始发生变化。以只销售电动汽车的Rivian为例，该公司第三季度交付了19,248辆汽车，远高于分析师预期的约17,600辆。
But the latest round of quarterly sales reports this week hinted that that’s starting to shift. Take Rivian, which exclusively sells EVs. The company delivered 19,248 vehicles in the third quarter, well above the roughly 17,600 expected by analysts.
JPMorgan分析师Rajat Gupta在一份报告中表示，这一成果很可能得益于Rivian新款R2车型的首个完整季度交付，这使其第二季度交付量实现了“强劲的环比增长”。Rivian希望这款中型SUV能以约5万美元的价格吸引更广泛的购车群体，这一价格远低于其更大尺寸的R1电动汽车的常见售价。
The results were likely buoyed by the first full quarter of shipments for Rivian’s new R2 model, helping generate a “strong sequential step-up” from second-quarter deliveries, JPMorgan analyst Rajat Gupta said in a note. Rivian hopes the midsize SUV will appeal to a broader swath of car buyers at around $50,000, well below what its larger R1 EVs often sell for.
特斯拉也避免了去年第三季度带来的显著“后遗症”——当时临时性的购买热潮曾将销量推至近50万辆的纪录水平。与这一高基准相比，特斯拉在最近一个季度售出了486,532辆电动汽车，仅下降2.1%，且远超分析师约46.4万辆的平均预测值。
Tesla also avoided a significant hangover from last year’s third quarter, when the temporary rush of buyers pushed sales to a record of nearly half a million vehicles. Against that lofty comparison, Tesla sold 486,532 EVs in the most recent quarter, a decline of just 2.1% and well ahead of the roughly 464,000 average of analyst estimates.
一些市场观察人士认为，特斯拉和Rivian的强劲表现表明，新一轮电动汽车需求可能正在兴起。由Itay Michaeli领导的TD Cowen分析师团队今年早些时候预测，得益于下一代车型和具备更强自动驾驶能力的汽车，美国市场可能在2027年或2028年出现复苏。
The strong results from Tesla and Rivian suggest a new wave of EV demand could be emerging, some market watchers say. TD Cowen analysts led by Itay Michaeli predicted earlier this year that a rebound in the US could materialize in 2027 or 2028, thanks in part to next-generation vehicles and cars that offer more self-driving capabilities.
“这场即将到来的电动汽车复兴仍处于早期阶段，”Michaeli在周五的一次采访中表示。“据我们估计，现有企业将在未来几年内大幅扩大电动汽车市场的覆盖范围。”随着电动汽车市场开始停滞，现代汽车已调整其生产结构，增加了混合动力车型的比例。尽管经销商要求提供更多电动汽车，但现代汽车的Parker表示，公司并不计划提高产量。
“We are still in the early stages of this looming EV comeback,” Michaeli said in an interview Friday. “EV market coverage, by our estimation, will grow substantially in the next couple of years by existing players.”Hyundai had shifted its production mix to make more hybrids as the EV market began to stall. And even though dealers are asking for more electrics, the company isn’t planning to boost production, Hyundai’s Parker said.
“宁可有一两款车供应不足，也不要多出一款车，”Parker周四对记者说。“由于战争和油价的影响，市场仍然非常动荡，情况明天就可能再次改变。”福特也对其亏损的电动汽车业务进行了大幅调整，取消了多款型号，并宣布计提195亿美元的损失。但即使是福特的经销商也开始要求提供更多电动汽车。
“Always better to have one or two vehicles too few than have one too many,” Parker told reporters on Thursday. “The market is still very volatile because of the war, because of gas prices, and this thing could change again tomorrow.”Ford, too, has dramatically reshaped its money-losing EV business, canceling multiple models and announcing $19.5 billion in charges. But even their dealers have started to ask for more electrics.
福特美国销售主管Rob Kaffl周五表示，就在当天早上，一位经销商联系他，希望帮助两位顾客选购一款特定的Mach-e——这是福特推出的电动SUV，其设计灵感源自野马跑车。
Rob Kaffl, Ford’s head of US sales, said Friday that a dealer that very morning contacted him to help two customers shopping for a specific Mach-e, Ford’s electric SUV with styling inspired by the Mustang sports car.
“我们看到很多曾经购买过Mach-e的顾客再次回归，希望选购另一款电动汽车，”他说。尽管销量尚未从去年显著回升，“但Mach-e的需求依然强劲。”
“We’re seeing a lot of returning Mach-e customers who want to get back into another EV,” he said. While volumes haven’t rebounded significantly from last year, “the demand on Mach-e continues to be strong.”