After a decade of growth, America’s electric car boom has stopped booming. In 2025, EV registrations slipped 0.4 percent to 1.3 million units, marking the first annual decline in at least 10 years. That’s not exactly a collapse, but it is the first crack in what once looked like an unstoppable surge.

The real drama arrived in December. Registrations plunged 48 percent year over year to just 75,427 vehicles after Congress repealed the $7,500 federal EV tax credit. EVs’ share of the overall market tumbled from 9.9 percent in December 2024 to 5.3 percent in the same month in ’25.

Related: EV Sales Are Booming Everywhere Except One Place

For the full year, EVs accounted for 7.8 percent of light vehicle registrations, down slightly from 8 percent in 2024, according to S&P Global Mobility data reported by Auto News. Meanwhile, total vehicle registrations rose 2.2 percent to 16.25 million units. In other words, Americans kept buying cars, but they increasingly chose ones with old-fashioned combustion engines.

Warning Signs Were There

The slowdown didn’t come out of nowhere. Growth had already cooled from triple-digit surges earlier in the decade to an 11 percent gain in 2024. Through the first half of 2025, EV registrations were still up 4.6 percent before the July announcement that the tax credit would vanish at the end of September. Buyers rushed to beat the deadline in the third quarter, then the market fell silent in the fourth.

Price remains the elephant in the charging bay. Even with incentives, EV sticker prices have hovered above what mainstream buyers feel comfortable paying. Early adopters are largely spoken for, and the next wave of customers worries about charging access and range anxiety. Hybrids have quietly become the safe middle ground.

Tesla Trouble

Tesla, still the heavyweight champion of EV sales, saw its registrations drop 6.8 percent for the year to 570,418 vehicles. Its market share slipped 3.1 percent to 44.9 percent. December was painful but not catastrophic, with a 35 percent decline.

The Model Y held its crown, but the Cybertruck and Model 3 both took heavy hits, and with the Model S and X due to be axed this year and the once-rumored small model not happening, this year is going to be tough, too.

Ford endured an even steeper December slide of 61 percent, while Cadillac enjoyed a rare bright spot thanks to genuinely fresh models, something Tesla badly needs. Rivian and Hyundai also saw declines, underscoring that this was not a one-brand problem, though Rivian does at least have a plan in the form of the smaller R2 SUV that goes on sale this year.

So is that it for EVs? Was it just a brief fad, like fidget spinners? No, analysts expect a slow and steady rebound as automakers trim prices and expand incentives. Charging networks are improving, and some EVs are nearing price parity with comparable gas models. The boom may be over, but the electric story is far from finished.

The Celestiq isn’t just Cadillac’s fanciest and most extravagant car in decades, it also carries the highest price tag in the brand’s history. And with only 25 examples scheduled for production in 2025, it’s one of the rarest Cadillacs ever made too. An ultra-luxury trifecta, really.

You can’t just hop onto Cadillac’s website and place an order, either. Buying a Celestiq involves direct contact with the brand, followed by a wait, possibly a long one.

The process is more aligned with how Rolls-Royce or Ferrari handles their customers, complete with a bespoke configuration experience where virtually every detail is customizable. No two cars will leave the factory looking the same.

Poll: Would You Spend Over $400K On A Cadillac Celestiq Or A Rolls-Royce Ghost?

Yet now, as picked up by Road&Track, one of these elusive machines has surfaced for sale, at a Cadillac dealership, no less. The car is currently listed through Cadillac Beverly Hills.

The dealership hasn’t confirmed whether the original buyer backed out post-delivery, or if there’s another story behind how it ended up on the lot. Either way, it presents a rare opportunity for someone to bypass the usual waitlist, assuming one still exists.

How Much Does Bespoke Cost?

Cadillac hasn’t really shared many details publicly, including exact pricing. For the 2025 model year, the starting figure was confirmed at around $340,000. That’s since crept up, with the 2026 Celestiq now beginning in the “low $400,000s”, and that’s before diving into options.

Read: Think The 2025 Celestiq Was Expensive? 2026 Says That’s Cute

What makes this particular Celestiq even more interesting is that its spec sheet provides a rare peek behind the curtain at individual option pricing. The exterior is finished in Abalone White Tricoat, a paint choice that adds $15,900 to the bill.

It has also been equipped with a flamboyant combination of blue and orange leather upholstery that cost $8,910, as well as a $1,525 Cadillac Crest headstone ornament, and a $4,000 Uranus Recycled Paper Wood ornamental finish.

Cadillac Beverly Hills

Inside, things get even more colorful. The cabin features a mix of bright blue and vivid orange leather, a combination priced at $8,910. There’s also a $1,525 Cadillac Crest headstone ornament, plus a $4,000 interior trim made from Uranus Recycled Paper Wood.

Would You Pay This Much?

The dealer is asking $418,575 for the rare luxury EV. That’s a lot of money, particularly since prices for the 2025 Celestiq the 2025 version started well below that before options were added. But with the 2026 Celestiq now beginning above $400,000, the dealer’s price isn’t entirely out of step.

There’s no doubt that the 650-horsepower Celestiq is special, but we wouldn’t be surprised if this car ends up sitting on the lot for quite some time. A buyer needs to be convinced to buy this, as opposed to a Rolls-Royce Phantom, and love the striking color combination, which we suspect will divide opinions.

Cadillac Beverly Hills

Even among high-end electric cars, the Cadillac Celestiq stands apart, an attempt to show how far American luxury can go when price isn’t part of the equation.

Some people doubted whether Cadillac’s all-electric Celestiq could ever justify its staggering price tag. For 2025, it started at around $340,000 before options, which made even luxury rivals look modest.

Yet despite the skepticism, Cadillac has already sold out of its 2025 allocation and is now taking orders for next year.

Also: Captain America’s Custom Cadillac Celestiq Is Dividing The Internet

For 2026, that figure climbs another 20 percent into the “low $400,000s,” again before you’ve had the chance to select anything bespoke.

Cadillac told Automotive News that the higher price reflects additional standard features, including eight years of connected service. Fair enough, if you’ve paid at least $400,000 for a high-tech machine, you wouldn’t expect to be billed again just to use its software.

As was the case for 2025MY sedans, the final price will depend entirely on the client’s level of curation. Essentially, each and every Celestiq is a bespoke creation unlike any of the others. That means the $400,000-plus price tag is just the starting point.

“The bespoke spirit of Celestiq extends to transaction price and will be determined by the client’s level of curation,” a Cadillac spokesperson told Autonews in a statement.

They’re all made by hand at GM’s Global Technical Center in Warren, Michigan, at a pace of less than two per day and buyers work one-on-one with Cadillac’s concierge team to personalize the car.

The company capped production for 2025 at just 25 units. It’s unclear how many it’ll build in 2026, but it did say that there are no more available reservations for 2025 examples.

Interestingly, Cadillac says it’s streamlining the design process. For example, selecting interior colors outside the streamlined palette triggered individual cost adjustments for 2025 cars. For 2026, one price includes all interior color choices, including those outside the normal selection.

More: Cadillac Delivers The Very First Celestiq EV

The first Celestiq rolled of the production line went to its owner in June of this year. The brand is no doubt hard at work to get the rest of the 2025 model year cars to their respective owners. As time goes on, it’ll be fascinating to see if the Celestiq gains a true foothold in this ultra-rarefied segment or not.

Source: Autonews