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April Sees New Vehicle Prices Surge 2.5%

5/23/2025

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Summary

EV Market Dynamics

In April, new vehicle prices increased by 2.5%, averaging $48,699, marking the highest rise since 2020.
Electric vehicle (EV) sales fell 5.9% month-over-month to 100,495 units, yet market share rose to 6.9%.
GM secured 14.4% of new EV sales, driven by strong Chevy model performance, while Tesla's share dipped below 50%.
Used EV sales surged 14.4% to 38,763 units, with Tesla dominating at a 47% market share.

Summary

EV Market Surge

The global electric vehicle market is set to expand from USD 988.70 billion in 2025 to USD 2.52 trillion by 2034, growing at 11% CAGR.
The EV workforce surpasses 6 million, with 330,000 new jobs created last year, reflecting robust talent development.
Over 1,510 companies are innovating in advanced battery technology and charging infrastructure.
The market has experienced 17,190 funding rounds, showcasing strong investor interest and financial growth.
Vehicle-to-grid technologies are emerging, promoting grid flexibility and supporting cleaner energy transitions.

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EV Market Dynamics

In April, new vehicle prices increased by 2.5%, averaging $48,699, marking the highest rise since 2020.
Electric vehicle (EV) sales fell 5.9% month-over-month to 100,495 units, yet market share rose to 6.9%.
GM secured 14.4% of new EV sales, driven by strong Chevy model performance, while Tesla's share dipped below 50%.
Used EV sales surged 14.4% to 38,763 units, with Tesla dominating at a 47% market share.

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