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For the first time in over a year, new electric vehicle registrations in the U.S. fell year-over-year in April, and Tesla was at the center of the slide.
According to fresh data from S&P Global Mobility via Automotive News, new EV registrations dropped 4.4% in April 2025 compared to the same month last year. In total, 97,833 new EVs hit the road, down from over 102,000 in April 2024. That’s the first annual decline in 14 months, and it pushed EV market share down to 6.6%, compared to 7.4% a year ago.
The EV market has been anything but predictable. While more models and affordable options are available than ever before, many American car buyers remain hesitant. Political uncertainty isn’t helping either. Federal tax credits have faced renewed scrutiny, and Tesla, the EV market leader, has become a lightning rod in national debates. In April, Tesla’s 16% drop in registrations was a major factor behind the segment’s overall decline.
“Many consumers are still on the fence about going electric,” said Ray Shefska, auto industry veteran and CarEdge Co-Founder. “Charging infrastructure, resale value, and battery concerns continue to hold buyers back, even with some very compelling offers in the market.”
Tesla Takes a Hit, But Chevy Steps Up
Tesla remains the top-selling EV brand, but its April numbers were rough: registrations fell 16% year-over-year to 39,913. The Cybertruck stumbled with just 1,680 new registrations, and the bestselling Model Y dropped 42% compared to last April. Only the Model 3 sedan managed to grow in April.
Meanwhile, Chevrolet surged in the No. 2 spot. Chevy more than tripled its EV registrations to 9,160, driven by strong sales of the Equinox EV and Blazer EV. The Equinox EV had 5,424 new registrations — making it the third-best-selling EV in April.
Ford claimed the third spot among EV brands, but its April numbers weren’t pretty. EV registrations fell 33% year-over-year to 5,534, with both the Mustang Mach-E and F-150 Lightning seeing double-digit drops. Only the E-Transit van saw growth.
A Look At Today’s EV Inventory
Using CarEdge Insights, we can see which electric vehicles are selling quickly, and which are stagnating on dealership lots this summer. Market day supply is a measure of how many days it would take to sell all existing inventory at current average daily sales rates. Here’s a look at how 10 of the most popular EVs (Tesla aside) are doing in terms of inventory in June 2025:
Make
Model
Market Day Supply
Total Sold (45 days)
Total For Sale
Acura
ZDX
42
2,394
2,595
Nissan
Ariya
49
3,630
3,975
BMW
i4
55
3,300
2,715
Chevrolet
Equinox EV
87
6,469
12,511
Chevrolet
Blazer EV
110
3,018
7,399
Ford
Mustang Mach-E
139
5,445
16,816
Hyundai
IONIQ 5
157
16,470
4,708
Cadillac
Lyriq
160
2,346
8,346
Ford
F-150 Lightning
160
2,632
9,353
Honda
Prologue
201
2,781
12,408
Be sure to check out the overall fastest and slowest-selling cars of the month. Some models are becoming much more negotiable, especially those with 100+ days of inventory on dealer lots.
Demand Is Plateauing
While full-year numbers are still up — EV registrations rose 11% from January to April — the monthly dip in April signals that momentum is slowing. Many EVs launch with hype and strong promotions, but interest often fades after early adopters purchase.
Only three EVs crossed 5,000 registrations in April: the Tesla Model Y, Model 3, and Chevrolet Equinox EV. Most other EVs struggled to break even 3,000, including the Hyundai Ioniq 5 (3,307), BMW i4 (2,707), Nissan Ariya (2,516), and Acura ZDX (2,315).
“Outside of Tesla and a few affordable newcomers like the Equinox, demand seems to be hitting a ceiling,” Shefska noted. “Buyers who want an EV have mostly already bought one — now automakers have to figure out how to reach everyone else.”
What’s Next for EV Shoppers?
Even as demand levels off, incentives are heating up and inventory is rising. That means opportunities for deals, but only if you know where to look.
Want help negotiating a great price on an EV? The CarEdge Concierge team is saving EV buyers thousands by navigating dealer markups, incentives, and hidden fees.
Independence Day is almost here, and so are July 4th SUV deals. Automakers are kicking off holiday promotions with a mix of low APR offers, lease specials, and cash incentives. With high interest rates, rising depreciation, and 2026 model price hikes on the way, it’s more important than ever to shop smart and take advantage of savings.
These offers are valid through at least July 7, 2025, and we’ll update this guide as more automakers release new incentives.
2026 Hyundai IONIQ 9
Lease from $419/month for 36 months with $4,999 due
Finance with 1.99% APR for 60 months
Eligible for $5,000 in down payment assistance
Why it’s a great deal: Hyundai’s all-new electric three-row SUV combines generous space with efficiency and ultra-fast charging. Rarely does an all-new model qualify for low-APR financing like this. This offer expires on 7/7/2025.
Lease from $329/month for 36 months with $3,999 due
Finance with 3.99% APR for 72 months
Up to $2,000 in cash savings
Why it’s a great deal: With a fresh redesign and multiple powertrain options, the Santa Fe is one of the most compelling midsize SUVs under $35K. This offer expires on 7/7/2025.
Lease from $369/month for 36 months with $3,999 due
Finance with 2.99% APR for 48 months
Up to $2,750 in cash savings
Why it’s a great deal: A top choice for large families, the Palisade offers one of the roomiest cabins in its class with premium features even at base trim. This offer expires on 7/7/2025.
Lease from $289/month for 24 months with $3,918 due
Finance with 1.90% APR for 60 months
Why it’s a great deal: Whether you choose hybrid efficiency or gas-powered practicality, this is one of the best SUV lease deals this Fourth of July. This Kia offer expires on 7/7/2025.
Lease from $279/month for 24 months with $3,999 due
Why it’s a great deal: This plug-in SUV qualifies for the $7,500 lease credit, making it one of the most affordable electrified SUVs in 2025. This Kia offer expires on 7/7/2025.
Lease from $398/month for 48 months with $3,499 due
Why it’s a great deal: While not the cheapest deal on this list, the Escape remains a practical and compact choice with flexible lease terms. This Ford offer expires on 7/7/2025.
Lease from $313/month for 36 months with $4,029 due
Finance with 3.9% APR for 72 months
Why it’s a great deal: With 2024 inventory finally out of the way, Ford is ramping up deliveries of the 2025 Mustang Mach-E. It’s also one of the best July 4th EV lease deals. The Mustang Mach-E’s top competitors are the Tesla Model Y, Chevrolet Blazer EV, Kia EV6, and Hyundai IONIQ 5. This Ford offer expires on 7/7/2025.
Lease from $339/month for 36 months with $3,999 due
Rare zero-percent financing SUV offer: 0% APR for 72 months
Why it’s a great deal: With no interest for six years and a lease deal under $350/month, this new electric SUV is launching with very competitive terms. This Honda offer expires on 7/7/2025.
Why it’s a great deal: One of the few two-row SUVs with real off-road capability, now available with a low interest rate. This Honda offer expires on 7/7/2025.
Lease from $319/month for 36 months with $3,299 due
Why it’s a great deal: A budget-friendly lease on Honda’s smallest SUV, with more cargo space than rivals like the Mazda CX-30 or Toyota Corolla Cross. This Honda offer expires on 7/7/2025.
So far, only six automakers have announced July 4th SUV specials. The rest are holding off until July 1st to reveal their Independence Day incentives. That means even more deals are on the way, but if you’ve got your eye on a 2025 model, now’s the time to act. Prices for 2026 model year SUVs are already trending higher, and remaining 2025 inventory won’t last forever.
We’ll keep this guide updated as new offers roll in. If you see an SUV you like at a price that fits your budget, lock it in before it’s gone.
💡 Pro Tip: Let your personal CarEdge Concierge negotiate your SUV deal. Whether you plan to buy new or used, lease or purchase, we can negotiate hundreds to even thousands of dollars off your out-the-door price. Shop with CarEdge on your side!
Summer is here, and for used car shoppers, we’re finally seeing a shift. According to the latest data from Black Book, wholesale used car prices have now dropped for three consecutive weeks. And last week, the rate of decline was double the seasonal average. That’s a strong indicator that retail prices could start falling by July or August.
But what comes next depends largely on the new car market. Let’s take a closer look at what buyers and sellers should expect from the used car market this summer.
Wholesale Prices Are Dropping – Retail Could Be Next
Used car values typically trail wholesale trends by a few weeks. When auction prices fall, retail prices tend to follow 6–8 weeks later. That puts us on track for softer pricing in the second half of summer 2025. Here’s a look at wholesale used car price trends in 2025, showing that prices are dropping more quickly in June:
What’s behind the shift?
Auction values are falling faster than expected – This summer’s decline is happening at twice the normal rate, a clear sign that dealers are feeling pressure.
The spring rush is over – With automakers facing cooling demand and new tariffs, price hikes have slowed. If new car sales stall, that could pull used car prices down even further.
Inventory is rebounding – Both new and used car lots are better stocked than this time last year, giving buyers more options and dealers less leverage.
According to CarEdge co-founder Ray Shefska, there’s still a wildcard in play: what happens with new car pricing.
“The only caveat,” Ray explains, “is what happens with new car prices. Do new car prices continue to go up, which would pull used car prices up as well, or does the new car market grow cold, which should lower used car prices?”
Right now, all signs point toward a cooling new car market. If that continues, used car shoppers could soon have more negotiating power. But is the possibility of slightly lower prices worth delaying your purchase? Let’s get into what Ray has to say about that.
Should You Buy a Used Car Now?
If you’re shopping this summer, here’s advice from CarEdge’s Ray Shefska:
“When you find a car that checks your boxes at a fair price, this summer is a good time to go ahead and buy. The key is to do your homework and ensure you’re getting a fair deal. Don’t rush into a purchase, especially as prices are on the downtrend.”
Trying to time every market shift is tough. What’s more important is that you do your research and use car buying tools to ensure you’re getting a fair price. Shop around for financing rates, and never agree to pay for forced add-ons.
🔍 Don’t skip the inspection. The average used car in America now has over 70,000 miles on the odometer. A Pre-Purchase Inspection (PPI) is essential to avoid buying a problem car.
For private sellers and those trading in a vehicle, this summer may be your last chance to get a top-dollar offer before prices slide further.
Trade-in values are declining – As auction values fall, dealers are revising their offers downward.
More supply = more competition – With more vehicles hitting the market, your car may not stand out like it did six months ago.
If you’re on the fence about selling, now’s the time to make your decision.
The Bottom Line: The Market Is Turning
If you’re buying, it’s a good time to monitor used car market trends. Used car prices could continue trending downward as summer progresses. For sellers, acting sooner rather than later can help lock in the best value before the market softens further. It’s due time to see how much your car is worth. And if you’re just keeping an eye on the market, pay close attention to both new and used car pricing, as the direction of the new car market will heavily influence what happens next.
It’s not your imagination — some automakers really are raising prices more than others. A new market analysis shows that while average new car prices are inching higher in 2025, the real story is more nuanced. While some automakers are piling on the incentives, others are moving in the opposite direction.
At first glance, car prices appear relatively stable. According to the latest data from Kelley Blue Book, the average transaction price for a new vehicle held steady at $48,799 in May. Compared to May 2024, that’s a 1.0% increase. Meanwhile, the average MSRP ticked up to $50,968, a 2.1% increase year over year.
But a closer look at individual automakers reveals some surprising trends. Here’s a look at which brands are raising prices the most, and which are doing the opposite.
Which Brands Are Raising Prices?
While prices rose across the board, five automakers posted the highest year-over-year increases in transaction prices. The numbers are eye-opening:
Automaker
May 2025
May 2024
Price Increase
Volkswagen Group
$60,696
$53,686
13.1%
Jaguar Land Rover
$107,766
$98,036
9.9%
General Motors
$54,060
$51,243
5.5%
Nissan-Mitsubishi Alliance
$36,576
$34,691
5.4%
Mazda
$36,429
$34,644
5.2%
One important factor driving price inflation is the introduction of all-new, higher-priced models. Some automakers are leaning into premium segments, especially in electric vehicles. General Motors, for instance, has been ramping up production of high-dollar electric trucks in 2025, like the GMC Hummer EV and Silverado EV. These pricey additions skew the average transaction price upward, even if legacy model pricing remains more stable.
At the same time, incentive spending is being reined in. Volkswagen, Mazda, Land Rover, Volvo, and BMW all reduced incentive spending by more than 10% in May. Chrysler, Jeep, and Ram also offered fewer discounts.
On the other end of the market, Tesla, Toyota, and Nissan boosted incentive spending. Toyota increased incentives by over 20% month-over-month. Still, Toyota’s incentive spending remains modest at just 4.1% of the average transaction price. If you’re looking for a great deal, it might be worth an electric test drive. EV incentives average 14% of the average transaction price in 2025.
Where Prices Are Falling in 2025
While some automakers are raising prices, others are lowering them. The truth of the matter is, most of these falling prices are not due to lower MSRPs, but instead result from higher incentives.
Five automakers saw year-over-year price decreases in May 2025:
Automaker
May 2025
May 2024
Price Decrease
Stellantis
$53,623
$56,193
– 4.6%
Tesla
$55,277
$56,860
– 2.8%
Ford Motor Company
$55,159
$56,115
– 1.9%
Hyundai Motor Group
$37,210
$37,612
– 1.1%
BMW
$70,255
$70,811
– 0.8%
As you can see, car price trends are far from uniform in 2025. While some brands push further into premium territory, others are using huge incentives to stay competitive, or simply to finally move 2024s off the lot. Stellantis, in particular, has aggressively discounted models like the Jeep Grand Cherokee and Ram 1500 amid growing inventory. Nissan is doing much of the same.
Interestingly, Stellantis shares something in common with one of the automakers raising prices the most: Volkswagen. Despite taking opposite approaches to pricing, both of these global giants consistently appear on the list of slowest-selling vehicles each month. Here’s a look at the models struggling the most on dealer lots today:
In short, these trends reflects a broader shift in strategy across the auto industry: sell fewer vehicles, but make more profit on each one. That’s exactly why automaker profits have soared in the post-pandemic era. For many OEMs, the 2020–2022 supply chain bottlenecks turned into a “when life gives you lemons, make lemonade” moment. Instead of chasing volume, automakers leaned into higher-margin models.
What Smart Buyers Can Do in Summer 2025
With prices continuing to climb for some brands and segments, buyers need to be more strategic than ever. Here’s how to navigate this market:
1. Shop the deals. Low APR financing and attractive lease offers are out there, but you have to know where to look. ➡️ Compare deals now
2. Stay flexible. Don’t fall in love with one specific make or model. Today’s “dream car” might cost you hundreds more each month compared to a more affordable alternative. ➡️ Find fair prices with CarEdge Insights
3. Look beyond the sticker price. Total cost of ownership matters more than ever. A car with great fuel economy, low depreciation, and strong reliability will save you thousands down the road. ➡️ Use CarEdge Research to find the best value… It’s FREE data!
4. Get expert help. Don’t go it alone. A CarEdge Concierge can help you compare options, negotiate on your behalf, and ultimately save big — all while reducing stress. ➡️ Learn how a personal Concierge can help you today.
If you’ve been thinking about leasing a new car, this Fourth of July is your best chance for a deal between now and Labor Day sales. Automakers are rolling out some of the best lease offers we’ve seen all year, with monthly payments as low as $129/month.
Below, we’ve rounded up the best Fourth of July lease deals. Just a handful of brands have announced July incentives, so we’ll keep updating this page as more deals arrive. Note: Manufacturer lease offers don’t include taxes and fees, which must be paid upfront or rolled into your monthly lease payments.
Lease: $349/month for 24 months with $0 due at signing. This lease deal includes a $7,500 incentive.
Zero-down lease specials are increasingly rare in 2025, but sluggish sales make the Model 3 cheaper than ever before. Even if you’re an EV-skeptic, this deal is worth a test drive.
This is a value-packed lease on a subcompact SUV that’s great for city driving and everyday use. It’s not the roomiest crossover out there, but it’s better-equipped than most models at this price point.
Lease: $432/month for 48 months with $3,731 due at signing
With the Bronco Big Bend, rugged style meets everyday practicality. This isn’t the best deal out there this July 4th, but it’s a solid lease on a capable SUV.
Ford’s EV lease offer includes employee pricing incentives and potential bonus perks like a home charger. In 2025, the Mustang Mach-E is one of the top-selling electric vehicles on the market.
Lease: $366/month for 48 months with $3,350 due at signing
The Maverick remains one of the most affordable and fuel-efficient pickups in America. It’s not as capable as a full-size truck, but you won’t find truck leases this cheap with the F-150.
Lease: $539/month for 48 months with $5,149 due at signing
It’s hard to beat a full-size truck lease under $550/month, especially with the F-150’s reputation as a workhorse. Before you lease, be sure to check out our CarEdge value ratings.
This is the cheapest lease in America right now. The Niro EV isn’t the fastest-charging, but for a commuter vehicle, it’s just about perfect if you have a place to plug in overnight.
With all-wheel drive, modern looks, and a lease deal under $300 a month, the Seltos is a top pick for budget-conscious lease shoppers. Kia isn’t advertising offers for the front-wheel drive Seltos, but you may be able to find an even cheaper deal.
The Carnival Hybrid is a fan-favorite hybrid minivan with loads of tech and passenger space. It’s rare to see a cheap lease deal for family haulers like this.
Only six car brands have announced July 4th specials as of mid-June. Most of the rest are likely to arrive on July 1, 2025. Need help deciding between lease options? Or want to make sure you’re getting the best monthly payment possible?
CarEdge Concierge can negotiate your lease for you. From trucks to EVs and everything in between, we help you avoid paying too much, all while ensuring you’re stressing A LOT less. It’s the easiest way to lease a car!
CarEdge Insights
