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Amid growing uncertainty around vehicle manufacturing, electric vehicle sales dropped 5% in April, The Wall Street Journal writes.
The drop in electric vehicle sales came as the broader automotive market grew by 10%, according to industry data. The drop marks only the third monthly decline in EV sales since 2021.
Major players like Tesla, Ford, Hyundai and Kia reported significant drops, with Tesla’s sales falling nearly 13%.
Several factors contributed to this downturn including reduced customer interest, fewer discounts and promotional offers, high vehicle prices and persistent concerns over charging infrastructure. There’s also concerns that there could be a rollback of the $7,500 federal EV tax credit, which incentivizes buyers to choose EV models.
Dealers note that many customers who inquired about EVs ended up purchasing gas-powered cars due to practical concerns.
