Tesla leads EVS low US sales in April, marking first annual decline of more than a year

• Sales of US Tesla vehicles fell 16% in Aprilaccording to S&P Global Mobility data cited by Trade Publications. Automotive News. With a 40% share, even the slight weaknesses of Elon Musk’s company have a disproportionate impact on monthly EV sales. Meanwhile, Musk dismissed concerns that he had problems with demand in his hands.

when Tesla Sneezes and the entire US electric car market is catching a cold.

Elon Musk’s company led total sales of zero-emission vehicles in April, marking the first decline in EV sales for 14 months. Automotive News.

Detroit-based trade publishingQuoteData published by S&P Global Mobility, which showed that Americans purchased around 97,800 EVs, or 4.4% less than last year.

The main perpetrator behind the decline was Tesla, whose volume sank 16% to below 40,000 in April. By comparison, Chevrolet saw the business triple from the relatively low level on the back of the new Equinox crossover.Real real world scope.

Neither Tesla nor S&P Global Mobility responded to requestsluckMade outside of normal business hours.

Tesla’s 40% share means determining the direction of the US EV market

The masks have made EVs desirable in the US. The first was the Model S sedan that revolutionized the industry in 2012, and then eight years later, it landed a smash hit with the more affordable Model Y crossover.

Despite his success, other industries in the US could not follow suit in the case of EV startups like Libian. Even in the now weakened states, Tesla accounts for around four for every 10 EVs sold in the US. In comparison, the two closest rivals, Chevrolet and Ford, account for less than 10% of the market share.

In such a dominant position, even a small decline will have a disproportionately large effect on the overall market.

Normally, April sales, released in June, are considered outdated at this point, but there is a lack of timely data on the size of the US electric vehicle industry. The market is lagging behind most other wealthy and developed countries where EV demand is supported High fuel tax.

Musk has rejected concerns that Tesla has a demand issue

Tesla’s poor results in the US in April confirm the already emerging trends Europe and Chinasuggests that the company will become increasingly difficult to meet unspecified annual forecasts Return to growing car sales.

Sales have already fallen by 13% First quarterand June should be a very strong month to at least eliminate the stagnation amount this quarter. More troublesome for Tesla, despite the promise of masks, there was no indication of a new model on the horizon, beyond the seven-seat Model Y Since April 2024 One of them will be released by the end of June.

Meanwhile, the CEO has exacerbated some investors by consistently dismissing concerns that Tesla’s core automotive business is in a long-term slump. He’s not the only one kill His planned, low-cost $25,000 car, in favor of one without manual control, his political activity sparked a boycott of customers.

“Don’t worry,” he recently said. I saidwas asked about Teslaev’s poor sales. “They’re fine.”

This story was originally introduced Fortune.com