For the first time in over a year, new electric vehicle registrations in the U.S. fell year-over-year in April, and Tesla was at the center of the slide.

According to fresh data from S&P Global Mobility via Automotive News, new EV registrations dropped 4.4% in April 2025 compared to the same month last year. In total, 97,833 new EVs hit the road, down from over 102,000 in April 2024. That’s the first annual decline in 14 months, and it pushed EV market share down to 6.6%, compared to 7.4% a year ago.

The EV market has been anything but predictable. While more models and affordable options are available than ever before, many American car buyers remain hesitant. Political uncertainty isn’t helping either. Federal tax credits have faced renewed scrutiny, and Tesla, the EV market leader, has become a lightning rod in national debates. In April, Tesla’s 16% drop in registrations was a major factor behind the segment’s overall decline. 

“Many consumers are still on the fence about going electric,” said Ray Shefska, auto industry veteran and CarEdge Co-Founder. “Charging infrastructure, resale value, and battery concerns continue to hold buyers back, even with some very compelling offers in the market.”

Tesla Takes a Hit, But Chevy Steps Up

Tesla remains the top-selling EV brand, but its April numbers were rough: registrations fell 16% year-over-year to 39,913. The Cybertruck stumbled with just 1,680 new registrations, and the bestselling Model Y dropped 42% compared to last April. Only the Model 3 sedan managed to grow in April.

Meanwhile, Chevrolet surged in the No. 2 spot. Chevy more than tripled its EV registrations to 9,160, driven by strong sales of the Equinox EV and Blazer EV. The Equinox EV had 5,424 new registrations — making it the third-best-selling EV in April.

Ford claimed the third spot among EV brands, but its April numbers weren’t pretty. EV registrations fell 33% year-over-year to 5,534, with both the Mustang Mach-E and F-150 Lightning seeing double-digit drops. Only the E-Transit van saw growth.

A Look At Today’s EV Inventory

Using CarEdge Insights, we can see which electric vehicles are selling quickly, and which are stagnating on dealership lots this summer. Market day supply is a measure of how many days it would take to sell all existing inventory at current average daily sales rates. Here’s a look at how 10 of the most popular EVs (Tesla aside) are doing in terms of inventory in June 2025:

Be sure to check out the overall fastest and slowest-selling cars of the month. Some models are becoming much more negotiable, especially those with 100+ days of inventory on dealer lots.

Demand Is Plateauing

While full-year numbers are still up — EV registrations rose 11% from January to April — the monthly dip in April signals that momentum is slowing. Many EVs launch with hype and strong promotions, but interest often fades after early adopters purchase.

Only three EVs crossed 5,000 registrations in April: the Tesla Model Y, Model 3, and Chevrolet Equinox EV. Most other EVs struggled to break even 3,000, including the Hyundai Ioniq 5 (3,307), BMW i4 (2,707), Nissan Ariya (2,516), and Acura ZDX (2,315).

“Outside of Tesla and a few affordable newcomers like the Equinox, demand seems to be hitting a ceiling,” Shefska noted. “Buyers who want an EV have mostly already bought one — now automakers have to figure out how to reach everyone else.”

What’s Next for EV Shoppers?

Even as demand levels off, incentives are heating up and inventory is rising. That means opportunities for deals, but only if you know where to look.

Want help negotiating a great price on an EV? The CarEdge Concierge team is saving EV buyers thousands by navigating dealer markups, incentives, and hidden fees. 

Talk to a CarEdge Expert Negotiator today →