Sales Summary
According to preliminary estimates, Light Vehicle (LV) sales grew by 12.8% YoY in April, to 1.49 million units. April 2025 had one extra selling day as compared to April 2024, but sales still increased by 8.4% YoY on a selling day-adjusted basis.
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The daily selling rate was measured at 57.4k units/day in April, down from 62.0k units/day in March. The annualized selling rate was estimated at 17.6 million units/year in April, down from 17.8 million units/year in March.
OEM Analysis
GM achieved its highest market share of the year to date – at 17.8% – and led the market, with total sales of 266k units. Meanwhile, second-placed Toyota Group enjoyed its highest market share in exactly 12 months, at 15.6%, with volumes of 233k units. Toyota Group and third-placed Ford Group (202k units) were the only two major OEMs to see higher sales in April than in March 2025. Perhaps more significantly, Ford Group’s sales topped 200k for the first time since March 2021, amid an aggressive “employee pricing” initiative. At a brand level, Toyota ranked first on 198k units, ahead of Ford on 191k units. Chevrolet was third on 172k units.
Model Analysis
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By GlobalDataFor the first time since December 2024, the Ford F-150 is thought to have topped the sales rankings, on 43.4k units. The Honda CR-V had claimed the number one spot in March, but slipped to third in April, on 41.5k units. The Toyota RAV4 claimed second spot in April, with 42.0k units sold. The two models occupying the final spots in the top five – the Chevrolet Silverado (36.7k) and Tesla Model Y (31.9k) – are well-accustomed to such positions.
Segment Analysis
Compact Non-Premium SUV has generally been enjoying a strong run recently, but the segment’s market share declined to 20.9% in April, its lowest since September 2024, and matching its year-ago share. The Nissan Rogue saw a slump in sales in April, which was likely linked to lower fleet volumes. Midsize Non-Premium SUV, by contrast, saw an improved market share of 15.5%, its highest since August 2024. The Toyota Grand Highlander performed well, boosted by hybrid sales, while sales of the new Toyota 4Runner continued to ramp up. The Large Pickup segment claimed a market share of 13.2%, very much in line with typical levels.
David Oakley, Manager, Americas Sales Forecasts, GlobalData, said: “As was the case in March, consumers appeared to bring forward purchases in April, in order to avoid potential price rises due to tariffs in the coming months. Superficially, this created a strong April, but when we dig a little deeper there are some nuances in the data. Retail sales in the earlier weeks of April appeared to be particularly robust, but there then seemed to be an easing of demand later in the month. While it may be too early to jump to conclusions, weekly sales patterns will be interesting to monitor as we head into May, as it could be that the initial surge in demand following the announcement of tariffs is fading. Recent policy adjustments from the Trump administration could indicate a slight softening in its stance on tariffs, and several OEMs have vowed to keep pricing unchanged for now. If consumers believe that the sense of urgency is lessening, this could result in lower sales in the short-term, even though lower tariffs or measures to offset the impact should help to support sales in the longer-term. As it stands, there is a sense that the industry is seeking to boost sales now while waiting for more stability in policy before committing to major decisions. The risk is that consumers may choose to stay on the sidelines until the current cloud of uncertainty lifts, but they could find that prices rise by the summer”.
Forecast Updates
Sales will very likely be negatively impacted by tariffs in 2025 and beyond, but the extent of the lost sales is unclear due to frequent changes in the details of government policy. With the first four months being relatively strong, OEMs holding off on price rises for as long as possible, and some efforts from the administration to mitigate the worst effects of the tariffs, sales should reach just over 15.0 million units in 2025. However, there is a high degree of uncertainty to the outlook, given that negotiations and further tweaks to trade policy could alter the forecast in either direction. In addition, the wider economic fallout of a potential trade war could potentially derail sales on top of the direct effects from the tariffs raising prices on new vehicles.
This article was first published on GlobalData’s dedicated research platform, the Automotive Intelligence Center.
