The electric vehicle market faced a troubling dip in sales in April, following a promising start to the year. Experts indicate this slump isn't alarming yet, attributing it to buyers purchasing pre-tariff gas and hybrid vehicles. Notably, several automakers, like Ford and Hyundai, saw substantial declines in EV sales, while hybrids thrived. However, models like the Toyota bZ4x generated notable growth amidst the downturn, suggesting a potential shift in consumer preference as newer models come into play.
The model year changeover caused a temporary dip in EV sales, as buyers rushed to grab pre-tariff inventories of gas-powered vehicles and hybrids.
Experts suggest that the significant drop in EV sales during April is not a cause for alarm yet, as it follows a strong start to the year.
Sales of established models like the Ioniq 5 and Kia EV6 saw sharp declines, indicating the impact of production shifts and consumer preference changes.
Bright spots in the market were seen with models like the Toyota bZ4x and Honda Prologue, which reported substantial sales growth amidst the downturn.
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