Electric Vehicle Sales: Diverging Trends Across the Globe
While global electric vehicle (EV) sales remain significant, regional markets are experiencing varied trends. According to Benchmark Mineral Intelligence, the first quarter of 2026 saw 4 million EVs sold globally, a 3% decrease compared to the previous year.
March played a key role in cushioning this decline. During this month, global EV sales reached 1.75 million, marking a 66% increase from February and a 3% rise compared to March 2025. This growth, however, highlights the differing trajectories across regions.
Q1 2026 EV Sales Data
- Global: 4.0 million (−3%)
- China: 1.9 million (−21%)
- Europe: 1.2 million (+27%)
- North America: 0.32 million (−27%)
- Rest of world: 0.6 million (+79%)
Europe’s Remarkable Growth
Europe is leading the charge in EV adoption, experiencing its best month ever in March by exceeding half a million sales for the first time. Sales surged by 72% month over month and 37% year over year, driven by financial incentives and increased fuel prices linked to the Middle East conflict. Both battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) saw record sales figures.
In particular, countries like the UK, Austria, Belgium, Finland, France, Italy, Portugal, and Spain achieved unprecedented BEV sales. In France, rising fuel costs, despite supplier price caps such as those from TotalEnergies, led to stockpiling and supply issues at gas stations, pushing BEV sales up by 69% compared to the previous year. Chinese manufacturers are also gaining traction, with brands like Leapmotor capturing a substantial share of the Italian market.
China’s Mixed Recovery
China’s EV market showed signs of recovery in March, with sales nearly doubling from February post-Chinese New Year. Despite this rebound, the market remains down by 21% year to date, with policy adjustments affecting domestic demand.
To counteract weaker home demand, Chinese automakers are increasingly focusing on exports. However, growing overseas inventories indicate that international sales are not matching shipment rates.
North America’s Decline
In North America, the EV market faced a challenging start to the year, with a 27% drop in sales during Q1 compared to 2025. Both the US and Canada saw significant declines, although March showed some improvement with over 100,000 EV sales in the US, the highest since federal tax credits ended in Q3 2025.
Automaker strategy adjustments are also evident, with Honda canceling the development of its Honda 0 Series EVs and the Afeela models from the Sony partnership.
Rising Momentum in Other Regions
Beyond major markets, EV sales are accelerating. New Zealand recorded a 263% increase in BEV registrations in March, contributing to a year-over-year growth rate of over 100% in 2026. Australia also experienced significant growth, with a year-over-year increase of 89% in March, albeit slightly slower than earlier in the year. Rising fuel prices, exacerbated by the conflict in Iran, are influencing consumer behavior in Oceania.
Read more: Europe surges, US stumbles, China cools: EV sales dip in 2026
Original Story at electrek.co