EV demand across the globe surged in April as steep gas prices and uncertainty over the Iran war continued to drive a shift in consumer perception of internal combustion engine (ICE) vehicles.
EVs Decline In North America, Europe Posts Gains
Despite an uptick in registrations for EVs and plug-In Hybrid Electric Vehicles (PHEVs), Benchmark Mineral Intelligence data, cited by Reuters on Tuesday, showcased a 28% decline in registrations across North America to 120,000 units in April. Global registrations for EVs and PHEVs came in at 1.6 million, illustrating a 6% YoY jump from April 2025, the report said.
Notably, companies like General Motors Co. (NYSE:GM) suspended EV efforts as the President Donald Trump administration relaxed emissions standards and ended the $7,500 EV credit offered till the end of September 2025 last year, which resulted in falling demand for EVs.
However, companies like Ford Motor Co. (NYSE:F) are continuing EV efforts, with the automaker’s universal EV platform set to underpin a $30,000 pickup truck as well as eventually help develop Level-3 autonomous driving. Meanwhile, Tesla Inc.‘s (NASDAQ:TSLA) Model Y continues to be popular in the U.S. market.
Mexico was an outlier with sales nearly 50% higher so far this year, while Canada's 7% dip could rebound with the reintroduction of the incentives for the zero-emission vehicle (iZEV) program, according to the report.
On the other hand, Europe reported a 27% YoY jump to 400,000 units in April, the report said, also outlining a $235 billion commitment towards EVs by countries in the European Economic Area.
China’s Exports Remain Strong
Chinese automakers shipped over 400,000 units overseas in April, while total exports from January to April this year have already reached 1.4 million units, the report said, with over 22% EVs and PHEVs sold in Europe being of Chinese origin.
Amid strong overseas performance, April registrations were down 8% YoY in China’s domestic market to about 850,000 units. The report said that the decline can be attributed to the end of incentives in the country.
Chinese EVs still face a de facto ban in the U.S. due to privacy concerns, but it could change following a key meeting between Trump and Chinese President Xi Jinping. However, BYD Co. Ltd.‘s (OTC:BYDDY) (OTC:BYDDF) Executive Vice President Stella Li said that it is “successful” despite being denied entry into the U.S. market.
Gavin Newsom Says America Is Losing EV Race
Gov. Gavin Newsom (D-CA) decried the slowdown in the U.S.'s EV development efforts, slamming Trump for causing the dismantling of “good-paying jobs” and manufacturing capabilities, leading to the Chinese auto industry experiencing a surge in growth globally.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by a Benzinga editor.
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