Due to the end of the $7,500 federal EV tax credit and import taxes that made some imported electric models harder to sell, hybrids have taken center stage, especially as higher gas prices put more focus on fuel efficiency. But according to a report from Automotive News, the EV industry is showing signs of recovery, suggesting the market could be moving toward a more stable footing.

That would be an interesting development, as consumers would have more options instead of being pushed toward a single powertrain solution. The report, citing S&P Global Mobility, stated that EV registrations in April 2026 fell to 89,147 compared with the same month a year ago, representing a 9.8% decline. However, that was the smallest year-over-year drop so far this year. New EV registrations fell 25% in March, 37% in February, and 41% in January.

Chevrolet

Needless to say, Tesla led EV registrations in April, with 45,800 units, up 13% from the same period in 2025. The Model Y rose 61% to 31,001 registrations, while the more expensive Model S and Model X doubled and tripled their registrations, respectively. Those gains come as Tesla ends production of both models as it looks to become more than just an EV maker and expand into humanoid robots.

Chevrolet took second place with 5,890 EV registrations in April (down 36% year over year), followed by Hyundai with 4,937 (up 3% YOY), Ford with 4,033 (down 27% YOY), Cadillac with 4,020 (up 5.1% YOY), and Rivian with 3,537 (up 5.5% YOY).

The biggest gainer was Toyota, which registered 3,524 EVs, representing a 225% increase YOY. Part of that growth can likely be attributed to the Japanese marque's relatively slow adoption of EVs, which left it with a low baseline a year ago, when its lineup consisted mainly of the bZ4X. Since then, the automaker has introduced an updated version of the model, now called the bZ, and added the all-electric C-HR to its EV portfolio.

Hyundai

If EV registrations continue to improve, it would suggest that buyers are embracing EVs for what they are, rather than just for the federal tax credit that is no longer available.

More EVs are also on the way that could help the segment capture more market share, which stood at 6.2% of the U.S. light-vehicle market in April, unchanged from March. Rivian has introduced the R2 as a challenger to the best-selling EV in the U.S., the Tesla Model Y, with Lucid planning to join the fray with the Cosmos. More affordable models could also help boost EV registrations, including Mitsubishi's upcoming EV based on the Nissan Leaf and Slate Auto's bare-bones electric pickup.

Ford