Overview
U.S. auto sales in April came in at a seasonally adjusted annual rate (SAAR) of 16.1 million units, a touch above the market consensus of 16.0 million, according to Morgan Stanley. On a year-over-year basis, sales were down 6%, and month-over-month volumes slipped 2%.
The year-on-year contraction is measured against a tougher comparison period: April 2025 saw elevated demand tied to tariff-related purchasing activity, which raised the baseline for year-over-year comparisons. Across the market, consumers continued to favor light trucks over passenger cars.
Powertrain mix: hybrids outpace battery EVs
Hybrid powertrains - counting both traditional hybrids and plug-in hybrids - showed resilience, with sales rising 8% year-over-year amid higher gasoline prices. Hybrid deliveries outstripped battery electric vehicle (BEV) sales by a factor of 3.0 in April.
By contrast, BEV volumes fell 22% year-over-year. Market penetration for BEVs eased to 5.7% in April, down from 6.0% in the prior month and from 6.9% in April 2025.
Manufacturer and regional share movements
Stellantis posted a year-over-year gain in market share, reaching 7.9% - an increase of 63 basis points - though its share dipped 92 basis points compared with the prior month. The company’s light truck segment expanded 4% year-over-year and held 7.8% of the market versus 7.1% a year earlier. Stellantis is also facing an upcoming United Auto Workers strike vote scheduled for May 7-8.
General Motors saw its share decline by 125 basis points to 17.0%. Ford’s market share fell 135 basis points to 12.9%.
Asian automakers collectively accounted for 50% of the market, up from the prior year.
Among European nameplates, Volkswagen captured 3.0% market share, up 17 basis points year-over-year. Audi held 0.9%, down 9 basis points. Mercedes-Benz was steady at 2.0%, up 27 basis points year-over-year, while BMW reached 2.6%, up 33 basis points. Porsche was reported at 0.42%, with the note that it was down 1 percentage point year-over-year.
Inventory trends
Dealer and channel inventories increased to 51 days of supply, up from 48 days the prior month and 46 days in April 2025. Stellantis’ inventory rose to 347,000 units, equating to 83 days of supply versus 69 days last month and 67 days a year ago.
Key points
- U.S. SAAR auto sales reached 16.1 million in April, slightly above the 16.0 million consensus; volumes were -6% year-over-year and -2% month-over-month.
- Hybrids grew 8% year-over-year and outsold BEVs by a factor of 3.0; BEV sales fell 22% year-over-year and penetration declined to 5.7%.
- Market share shifts: Stellantis rose to 7.9% year-over-year, GM fell to 17.0%, Ford to 12.9%, and Asian automakers held 50% of the market.
Risks and uncertainties
- Labor disruption risk - Stellantis faces a UAW strike vote on May 7-8, which could affect production and supply chains if escalation occurs.
- Demand comparisons - Year-over-year metrics are influenced by elevated tariff-driven purchases in April 2025, complicating trend analysis for manufacturers and suppliers.
- Inventory buildup - Days of supply have increased to 51 days overall and to 83 days at Stellantis, which could pressure pricing, incentive dynamics, and dealer inventories.
The data provide a snapshot of evolving consumer preferences and inventory dynamics that can influence pricing power, distribution decisions, and short-term volume management across OEMs and their supplier networks.