April reflected a more measured pace for the EV market following March’s rebound, according to Cox Automotive.

New EV sales declined year over year and month over month, while used EV sales continued to grow as inventory availability improved and more off-lease vehicles entered the market. Prices increased across both segments, while days’ supply tightened for new and used EVs.

Sales

New EV Sales

New EV sales totaled an estimated 76,889 units in April, down 23.1% year over year and 6.2% month over month. EVs accounted for 5.6% of total new-vehicle sales.

Tesla remained the market leader with 37,550 units sold, followed by Chevrolet, Hyundai, Ford, and Cadillac. Tesla’s EV market share declined slightly to 48.8%.

Most automakers posted month-over-month declines, reflecting broader softness in the new-vehicle market. Ford was a notable exception, with EV sales increasing 23.9% from March.

Used EV Sales

Used EV sales reached 42,080 units in April, up 16.7% year over year and 3% month over month, pushing used EV market share to a record 2.8%.

Tesla led the used EV market with 16,174 units sold through non-Tesla dealerships, followed by Hyundai, Chevrolet, Ford, and BMW.

Cox Automotive said used EV sales growth continued to be supported by improving inventory availability and a growing number of off-lease vehicles entering the secondary market.

Prices

New EV Average Transaction Price

The average transaction price for a new EV in April was $55,211, up 1.4% month over month but down 4.9% year over year.

Incentives averaged $7,640, representing 13.8% of ATP.

Cox Automotive said the monthly ATP increase reflected stronger sales of higher-priced EV models and lower sales volumes among lower-priced brands such as Chevrolet and Toyota. The EV premium over ICE+ vehicles widened modestly to about $6,214 from roughly $5,800 in March.

Used EV Listing Price

The average listing price for a used EV was $35,895 in April, up 4.2% month over month and 0.5% year over year. Cox Automotive said it was the first positive year-over-year pricing increase since July 2025.

The increase was broad-based, with 29 brands posting higher listing prices, including Tesla, Chevrolet, Hyundai, and Ford.

The used EV price premium over ICE+ vehicles widened slightly to $1,096.

Supply

New EV Days’ Supply

New EV days’ supply declined to 79 in April following a modest upward revision to March. Inventory remained more than 20% below year-earlier levels and near the lowest readings recorded so far in 2026.

Toyota, Hyundai, Mercedes-Benz, and Subaru maintained relatively lean inventory positions, while Volkswagen, Nissan, and GMC continued to carry elevated inventory levels.

Used EV Days’ Supply

Used EV days’ supply fell to 32 in April, down modestly month over month and 31.8% below year-earlier levels.

Used EV inventory remained tighter than the broader used-vehicle market for a second consecutive month, reflecting faster inventory turnover.

Chevrolet and Nissan posted some of the largest declines in used EV days’ supply, while Tesla, Toyota, and Rivian remained relatively lean at about 28 to 29 days’ supply.

Outlook

Cox Automotive said near-term volatility is likely to continue for new EVs as demand responds to broader new-vehicle market conditions, pricing strategies, inventory levels, and fuel prices.

The company said the used EV market remains comparatively well positioned due to improving inventory availability, expanding model-year coverage, and faster inventory turnover. Cox Automotive expects the used EV segment to remain a growth area through the remainder of the year.