US EV Demand Hits Four-Year Low as European Auto Giants Face a Split Signal

EV registrations and consumer credit

US plug-in vehicle registrations fell to 21,482 units in July 2026. That is the smallest July reading in four years, according to ORTEX's tracking of US state EV fleet data. The figure sits well below the prior July peak of 25,394 set in 2022. The data covers both battery-electric and plug-in hybrid vehicles registered in the US state fleet.

Alongside that, EDGAR ABS filings tracked by ORTEX show Nissan's (7201) auto-loan delinquencies running 0.8 standard deviations below their own history as of 25 September 2026. That suggests relative credit quality improvement in the Nissan trust pool, even as headline EV demand softens.

Sports betting retreats, aviation sets records

Massachusetts casino sportsbook gross revenue hit $407,627 in September 2026. That is the lowest September on record since tracking began in 2023, per ORTEX's monitoring of state gaming regulator filings. The revenue line has now declined for three consecutive months.

The contrast with aviation could not be sharper. Brazil airline departures reached 79,566 in September 2026, the largest September on record since the series began in 2024, according to ORTEX's Brazil airline departure data. Paid passenger counts also set a September record over the same period. Australia moved in the opposite direction: sectors flown in September 2026 were the smallest for that month in two years, per ORTEX's Australian air on-time performance dataset.

Wikipedia page views for CGDG and JTEK each ran 10.0 standard deviations above their own histories as of 21 October 2026, per ORTEX's retail attention tracker. Readings that far above baseline can reflect unusual retail interest in those ETFs.

Prints ahead: European automakers face a mixed registration backdrop

Four European automakers report this week, and ORTEX's vehicle registration data has a measured lead on each.

Kia reports 26 October. Austrian car registrations, which lead Kia's revenue by 45 days with a moderate fit, are running plus 9% on the same quarter last year, with all three months of the quarter in.

Maruti Suzuki reports 27 October. India registrations, which lead revenue by 58 days with a weak fit, are running plus 31% year on year, with three of three months in.

Mercedes-Benz reports 28 October. Dutch car registrations, a strong-fit lead of 26 days, are running minus 6% year on year, with all three months in. Finnish registrations, a weaker-fit signal, point the other way at plus 36%, also with three months in.

Volkswagen and Renault both report 29 October. Austrian registrations, a moderate-fit lead for each, show minus 6% for Volkswagen and plus 6% for Renault, both with full quarters in. Renault's Dutch registrations, also a measured lead with a moderate fit, are running minus 19% year on year with three months in. These are where the data points so far; they are not revenue forecasts.