⚡ Market Pulse: The EV strategy that worked last year won’t cut it now

Hey everyone. Happy Tuesday.

The EV game is changing fast, and we’re diving straight into it: what’s moving, what’s not, and where dealers should be leaning in right now.

— CDG

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Welcome to the CDG Market Pulse—your no-fluff cheatsheet to auto retail, built to help dealers price right, stock smart, and stay ahead.

⚡ EVs are selling—but it’s not a level playing field.

New EV sales : ↑ 18.5% MoM | ↑ 8.2% YoY

New EV sales topped 107K units in March—but market share still dipped to 6.8%.

Translation? More EVs sold, but gas-powered vehicles are still running the show.

And if we’re naming names—Tesla held its lead but slid 5 points to 42% share, even with the Model Y and 3 holding the top two spots. Meanwhile, Chevy, Hyundai, Genesis, and Cadillac all posted 50%+ gains. Not a typo.

Used EV sales : ↑ 45% MoM | ↑ 39% YoY

Used EVs are gaining ground—with retail share hitting 2% for the first time.

Thank that sweet, sweet tax credit.

Tesla’s still the go-to at 54.5% share, but a healthy mix of Mach-Es and Bolts show buyers are branching out—so long as the name rings a bell.

⚡ EV supply is shrinking—but some OEMs still have plenty to go around.

New EV supply: ↓ 12.5% MoM | ↓ 26% YoY

New EV days’ supply now sits 24 days higher than gas-powered vehicles on average—double the gap from last month.

But averages don’t tell the whole story…

GMC’s sitting on 170 days of EVs, while Kia’s nearly cleared the lot at 23. BMW dropped 49 days in one month. And VW? Up 47.

Tariff buzz lit a fire under buyers—and it’s showing up in the supply swings.

Used EV supply : ↓ 4.4% MoM | ↓ 10.9% YoY

Used EV supply dipped to 47 days in March—no shock, given the surge in March sales.

But used gas and hybrid (ICE+) inventory fell even harder, down 18.1% vs February, as tax refunds and tariff concerns pulled buyers in.

The result? Used EVs have seven more days of supply on dealer lots than used ICE+ units—up from just a one-day gap in February.

Gas and hybrid cars might be moving faster—but EVs are holding steady, and models like the Bolt, Mach-E, and Model 3 are picking up speed.

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⚡ New EVs are averaging $59K—but 40% of used ones sold for under $25K

New EV Price: ↑ 3.8% MoM | ↑ 4.4% YoY

New EVs now cost $12,229 more than gas cars on average—the widest gap we’ve seen in years. (About $59K vs $47K…)

And incentives? Still doing the heavy lifting at 13.3%, with models like the Leaf, EV6, EQB, and Ariya offering 30%+ off sticker. But with tariffs looming on imported battery components, that pricing pressure could climb even higher.

Used EV Price: ↓ 2.9% MoM | ↑ 2.2% YoY

Used EV prices averaged $36,929 in March, narrowing the gap over gas cars to under $4K.

In some cases, that gap flipped—12 brands now list cheaper than their gas-powered counterparts. Even better, 40% of used EVs sold last month came in under $25K.

The EV market got a jolt in March—sales jumped, supply thinned, and pricing sent mixed signals.

New EV prices edged up, used ones dipped, and sub-$25K deals drew in value-hunters. Demand isn’t exploding—it’s evolving. Buyers aren’t buying any EV—they’re buying the right one.

And underneath all that? Residual values are telling their own story.

Christopher Harto pointed out on LinkedIn that EV depreciation isn’t universal—Rivians, for example, are holding up shockingly well, with resale values hitting 90% of MSRP.

Why? Matt Traylen says it’s brand trust: buyers believe Rivian has their back.

(Sourced from Christopher’s LinkedIn post)

Mike Groff adds a caveat—small volume helps, and if Rivian scales, we’ll see how sticky that value really is.

(Sourced from Christopher’s LinkedIn post)

One thing is fact for now: when the product’s strong, the brand is trusted, and supply’s tight—value sticks. And in today’s EV market, that’s half the battle.

EV demand isn’t fading—it’s fragmenting.

And the days of stocking just any EV are over.

Dial in on trims with strong incentives—like the Leaf, EV6, EQB, and Ariya—and lean into used EVs under $25K while tax credits are still in play. That window won’t stay open forever.

Thanks for reading everyone.

— CDG