Recently, traditional automakers may find some comfort in the news: North American electric vehicle sales increased by 14% year-on-year in April this year, despite rumors of declining demand for electrification.
Although overall sales from January to April this year were the same as last year, the situation becomes very interesting if you exclude Tesla's sales figures. According to S&P Global Mobility, in the first few months of 2024, sales of electric vehicles excluding Tesla increased by 69%.
Tesla's woes have nothing to do with the Cybertruck. According to Automotive News, the Cybertruck registered 2,181 vehicles in April, surpassing its entire Q1 registration. Instead, the problem lies with the once-glorious Model 3. Despite the facelift in early 2024, sales of the sedan fell by 55% in April and a 54% year-on-year decline from January to April, which reduced Tesla's share of the EV market from 60% to 50%.
Analysts say the decline in sales of the Model 3 is partly due to its exclusion from the list of electric vehicles eligible for tax credits. However, now that the long-range and performance versions have regained the government's favor, demand is likely to pick up in addition to the basic model, which is still not receiving state subsidies.
Among non-Tesla brands, Ford was the best performer, with its April registrations surging 169% to 8,309 units. This was driven by the strong performance of the Mustang Mach-E and the surge in demand for the F-150 Lightning, which added 2,509 new owners in April. However, from the statistical data, it can be found that Tesla is still far ahead of Ford in the electric vehicle sales list.
Hyundai, which ranked third, delivered 6,355 electric vehicles, up 75% year-on-year; Kia sold 5,340 units, a year-on-year increase of 172%; And thanks to the deep five-figure discounts, the demand for the Toyota bZ4X jumped from a measly 625 units in April 2023 to 4,666 units in April this year.
Judging by the data, the efforts of traditional automakers in the field of electrification are starting to bear fruit. The strong performance of brands such as Ford, Hyundai, Kia, and Toyota suggests that the EV market will be more competitive. For consumers, this means more choice and better product performance. For the industry as a whole, intensified competition can also force the progress of the industry.