EV Market Cools in April With Broad Brand Declines, Amid Shifting Consumer Preferences and Fewer Discounts

U.S. electric vehicle sales declined by about 5% in April, even as the broader auto market rose 10%, according to The Wall Street Journal. Electric vehicle sales fell across most major brands in April, including Kia, Hyundai, and Ford. Tesla sales dropped nearly 13%, while Rivian’s R1T and R1S models saw sales cut in half. Rivian lowered its annual sales forecast by about 5,000 units, blaming weaker EV demand due to President Trump’s trade policy. Hyundai attributed its April EV sales decline to a production shift to a new Georgia factory and expressed confidence in the long-term growth of the U.S. EV market. Dealerships emphasized that April’s results don’t necessarily reflect a long-term trend but highlight volatility in the market.