EV sales rise for traditional automakers

By David Ferris | 06/27/2024 06:52 AM EDT

Tesla’s slice of the pie is shrinking, as other electric vehicle brands grow in popularity.

The logo for a Tesla Supercharger station in Buford, Georgia, in April 2021. Faced with falling global sales and a tumbling stock price, Tesla has slashed prices again on some of its electric vehicles and its “Full Self Driving” system. Tesla releases first-quarter earnings Tuesday, April 23, 2024.

The logo for a Tesla Supercharger station in Buford, Georgia. Chris Carlson/AP

Traditional automakers have seen electric vehicle sales grow this year, countering the widespread notion that American consumers have lost interest in the technology.

EV sales jumped 12 percent in April compared to the same month in 2023, according to data by S&P Global, a data firm based in New York. That was almost entirely driven by traditional automakers — and not by Tesla, the country’s overwhelmingly dominant maker of electric cars.

With Tesla removed, American EV sales climbed by 75 percent in April compared to last year, according to S&P Global.


“The EV market showed a lot of strength,” said Tom Libby, an analyst at S&P Global, noting Tesla’s weakness and “strong performance by all other brands.”