The U.S. electric vehicle (EV) market recorded its first year-over-year decline in 14 months this April, with total EV registrations falling 4.4% compared to the same month in 2024, according to S&P Global Mobility.
The decline was primarily driven by a sharp drop in Tesla’s U.S. sales, which fell 16% year-over-year to fewer than 40,000 units. Tesla remains the dominant player in the U.S. EV landscape with a 44% market share, meaning fluctuations in its performance have an outsized impact on overall industry figures.
While other EV manufacturers such as Chevrolet and Ford each control less than 10% of the market, General Motors gained ground in April, buoyed by strong demand for the new Equinox EV. Chevrolet’s affordable SUV offering helped GM triple its EV sales compared to the same period last year, though from a smaller base.
Tesla’s U.S. decline mirrors a broader downward trend that began earlier this year, with global deliveries dropping 13% in the first quarter. CEO Elon Musk has continued to downplay concerns, stating that demand remains strong outside of Europe. However, dips in sales have been observed across several major regions.
Some relief has come from Asia-Pacific markets, where the refreshed Model Y has reportedly bolstered demand. Nonetheless, industry analysts say Tesla faces pressure to rebound in June to stay on track with its full-year guidance, as rivals continue to introduce competitive alternatives.