The New York Auto Show highlights the gap between EV ambitions and what consumers want
FOX Business Correspondent Jeff Flock Joins ‘Varney & Co.’ breaking down the rise of SUV and truck sales, the decline in demand for electric vehicles and how billions in tariffs are reshaping the auto industry.
The shift in the automotive market is becoming harder to ignore as consumer demand shifts back to larger, more powerful vehicles, even as electric vehicles struggle to maintain power.
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FOX Business reporter Jeff Flock joined FOX Business’ Stuart Varney on “Varney & Co.” reporting from the New York Auto Show, where automakers are leaning toward SUVs and trucks amid changing consumer preferences.
Nissan Americas Chairman Christian Meunier discusses the debut of the 2027 Z Nismo at the New York Auto Show, highlighting the performance improvements and vision of the next-generation sports car on ‘Mornings with Maria.’
Recent sales data underscores that pivot. Midsize SUVs and trucks are seeing significant gains, while small cars and electric vehicles are losing ground, highlighting the growing gap between industry aspirations and what consumers actually buy.
According to Cox Automotive and Kelley Blue Book, midsize SUV sales increased 15%, midsize truck sales increased 14%, while small car sales decreased 8% and EVs decreased 26% in February compared to the same period last year. EV momentum is becoming increasingly unbalanced. Electric vehicles accounted for 10.5% of new US car sales in the third quarter of 2025 but fell to 5.8% in the fourth quarter as incentives ended, highlighting a sharp reversal after earlier gains.
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Nissan Americas Chairman Christian Meunier pointed to another pressure shaping the market: pricing. Automakers and suppliers have incurred billions of dollars in additional costs, reducing their ability to pass those costs on to consumers.
A car frame rolls down the assembly line at a Nissan Motor Co. manufacturing facility. in Tennessee. (Luke Sharrett/Bloomberg/Getty Images)
“It’s a lot of money, but it’s much less than what we got last year when it was launched,” said Meunier.
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He added that the company worked to reduce that burden while increasing domestic production.
Interior Secretary Doug Burgum praises President Donald Trump’s economic agenda on ‘The Evening Edit.’
“In the beginning, we had an exposure of 4 billion dollars. We reduced it to 1.5 billion dollars in 25, and we will reduce it to zero. That is our mission to build as many cars in the US as possible,” said Meunier.
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