Electric vehicles (EVs) made up just 6.9% of the new cars Americans bought in April as the EV market faced economic and policy challenges.
Kelley Blue Book parent company Cox Automotive reports that Americans bought 100,495 new electric cars last month. That’s about 7,000 fewer than in March.
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Declines in EV sales have been rare in recent years, with gas-powered cars steadily losing market share to hybrids, plug-in hybrids, and all-electric models.
New EV sales experienced a decline both month-over-month and year-over-year, although the market share in April saw a slight increase compared to March. While most manufacturers saw a month-over-month decline in volume, GM, Tesla, and Nissan reported notable growth in EV sales. Ford, Hyundai, and Volkswagen all experienced declines.
The price of the average new car inched up last month as new tariffs took a toll on car sales. EV prices rose faster than average. The average EV sold for $59,255 in April — 3.7% more than March’s price.
That price increase comes as Congress considers ending a $7,500 tax credit that helps drive down the price of EVs built in North America.
Used EV sales, on the other hand, grew dramatically, up 14.4% compared to March and 60.6% compared to last April. Used EVs are still a small portion of the market, and dramatic growth is not unusual with relatively new products.
