Courtesy of Tesla, Inc.
Tesla topped U.S. electric vehicle (EV) sales in April despite the market exhibiting a significant decline, according to new data from S&P Global Mobility (via Fortune).
The automaker led the market but saw its volumes slump 16% to just below 40,000 for April. When Tesla stumbles, the entire U.S. EV market feels the impact, considering it faced its first year-over-year drop in sales in 14 months.
Americans purchased approximately 97,800 EVs in April, down 4.4% compared to the same month last year. The dip in Tesla sales alone had an outsized effect on the entire EV landscape, given it still commands roughly 40% of the U.S. market.
Chevrolet, meanwhile, tripled its EV sales thanks to the newly launched Equinox electric crossover. Notably, it beat all Tesla models in real-world range — a major selling point for budget-conscious buyers.
Tesla’s once-unshakable dominance in the electric car space now appears to be wobbling. The EV pioneer still sells four out of every 10 electric vehicles in the U.S., far ahead of rivals like Chevrolet and Ford, which each hold single-digit market shares. But without a clear product roadmap or fresh model launches — besides a teased seven-seat Model Y (or is it going to be a six-seater?) — Tesla risks stagnating in a market that’s finally heating up.
Tesla CEO Elon Musk continues to downplay concerns, brushing off the slump. The company also looks to be foregoing the lower end of the market, with Musk killing off its much-anticipated $25,000 budget EV and instead pushing forward with plans for the driverless Cybercab platform. Combined with Musk’s increasingly divisive political activity, Tesla’s U.S. brand image has taken a hit, potentially souring customer sentiment.
With U.S. EV adoption already lagging behind Europe and China, Tesla’s recent performance may be a wake-up call — not just for Musk, but for the entire American EV market.
