New EV Prices Climb In April, Tesla Cybertruck Sales Drop Off To Under 2,000 Monthly Units
The price of electric vehicles rose in the month of April, the potential result of tariffs and less incentives. Tesla Inc (NASDAQ:TSLA) led the way in the U.S. for the month, but its Cybertruck may be a disappointment.
What Happened: Tesla was the leader for electric vehicle sales in the U.S. in 2024, but saw its market share continue to decline with more entrants in the sector.
The company faces potential brand damage in 2025 thanks to CEO Elon Musk's political involvement.
In April, Tesla led the way for electric vehicles in the U.S. with more than 45,000 units sold according to data from Cox Automotive's Kelley Blue Book, as reported by Electrek. This marked the best month of 2025 to date for Tesla, with many of the new car sales coming from the recently released updated Model Y.
April saw new EV sales drop 6% from the previous month. However, compared to the first four months of 2024, new EV sales are up 5.4% year over year.
The average transaction price for Tesla was $56,120 in April, up month over month and year over year. Tesla saw the average selling price for the Cybertruck at $89,247 in April, which comes as the vehicle's price falls with new models and incentives after previously being the top-selling EV over $100,000.
For Tesla, the worst news may have been that less than 2,000 Cybertruck units sold in the U.S. in the month of April, the first time under that figure in a year, which could indicate continued pressure on the once highly-anticipated pickup truck.
Overall, the average transaction price for a new EV in April was $59,225, up 0.2% from March and 3.7% year over year.
The price rose in part because lower incentives dropped for a second straight month. The report said incentives made up just 11.6% of the average electric vehicle transaction in April, down from 13.9% at the peak in November 2024.
"Ever since President Trump announced auto tariffs 47 days ago, the cost of new cars has been steadily climbing," Cox Automotive executive analyst Erin Keating said.
Why It's Important: The latest report from Kelley Blue Book comes on top of reports that Tesla sales have declined in Europe and China.
A recent report from Electrek also said Tesla had around 10,000 Cybertruck units in its inventory, a figure that continues to build with possible pressure on sales.
There were a record 1.3 million electric vehicles sold in the U.S. in 2024, a figure up 7.3% year-over-year.
Tesla held three of the top 10 spots with the Cybertruck ranking fifth with 39,965 units sold in 2024. If current trends continue, the Cybertruck could fall out of the top 10 and be passed by the Ford F-150 Lightning and other electric pickup trucks.
TSLA Price Action: Tesla stock is up 4.8% to $333.65 on Tuesday versus a 52-week trading range of $157.40 to $488.54. Tesla stock is down 12.1% year-to-date in 2025, while shares are up over 90% in the last year.
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