Automakers are pumping significantly more cash into new-vehicle discounts this month, but almost none of that money is flowing toward electric vehicles. ICE and hybrid discounts surge, EV deals shrinkIncentive spending on traditional ICE and hybrid vehicles is expected to increase $578 per unit year-over-year, up 22.2%, to $3,181 in July 2026. Those trends are tracking closely with July hybrid and EV market-share shifts reported separately this month. The selling rate for June was estimated at 90.0 million units annualized, up only slightly from 89.3 million units in May. Those pressures have already weighed on domestic manufacturers: Ford’s sales and margins both came under significant pressure in the most recent quarter.