The US electric vehicle (EV) market recorded its first annual decline in 14 months in April, with total EV registrations down 4.4% compared to the same month in 2024.
Experts see the reason in Tesla. As evmagz.com writes, citing S&P Global Mobility, the decline is due to a sharp decline in Tesla sales in the US. Its sales fell 16% year-over-year to fewer than 40,000 units.
Still, Tesla remains the dominant player in the U.S. electric vehicle market with a 44% market share, but that volume is sensitive to fluctuations in the overall industry and national statistics.
Other electric vehicle makers (Chevrolet and Ford) control less than 10% of the market. General Motors gained ground in April thanks to strong demand for its new Equinox EV.
Chevrolet’s affordable SUV offering helped GM triple its electric vehicle sales year-over-year, albeit from a smaller base. But Tesla’s U.S. sales decline reflects a broader downward trend.
It began earlier this year, when global deliveries fell 13% in the first quarter. Chief Executive Elon Musk continued to downplay concerns, saying demand remained strong outside Europe. But sales are falling in several key regions.
Some relief came from markets in the Asia-Pacific region, where the refreshed Model Y saw increased demand. But industry analysts say Tesla will face pressure to recover as rivals continue to introduce competitive alternatives.