Global EV sales fall amid record growth in Europe
Kyiv • UNN
In the first quarter of 2026, global electric vehicle sales decreased by 3%. Europe set a record, while the Chinese and US markets showed a decline.
Global electric vehicle sales are still huge, but they are not moving in the same direction everywhere: new data from Benchmark Mineral Intelligence shows that 4 million electric vehicles were sold worldwide in the first quarter of 2026, down 3% from a year earlier, UNN reports with reference to Electrek.
Details
March helped cushion the decline: 1.75 million electric vehicles were sold worldwide – 66% more than in February and 3% more than in March 2025. However, this rebound masks a widening gap between regions.
Here's how the figures for the first quarter of 2026 look:
- global sales: 4.0 million (-3%);
- China: 1.9 million (-21%);
- Europe: 1.2 million (+27%);
- North America: 0.32 million (-27%);
- rest of the world: 0.6 million (+79%).
Europe leads the way
Europe is the engine of growth in electric vehicle sales. In March, the region showed its best results ever, exceeding half a million sales for the first time.
Sales increased by 72% compared to the previous month and by 37% compared to the same period last year, driven by subsidies and rising gasoline prices related to the conflict in the Middle East. Both battery electric vehicles (BEVs) and plug-in hybrids (PHEVs) achieved record sales volumes.
Several countries showed significant results. In the UK, sales growth was driven by a change in license plates in March, as well as rising fuel prices, leading to a record month and a 31% year-on-year increase. Austria, Belgium, Finland, France, Italy, Portugal and Spain also recorded record EV sales.
The increase in fuel prices clearly affects purchasing behavior. In France, rising prices, even with supplier restrictions such as TotalEnergies, provoked panic buying and supply disruptions at gas stations. This led to a 69% year-on-year increase in EV sales, significantly exceeding the already strong 36% growth observed in the first two months of 2026.
Chinese automakers are also strengthening their positions in Europe. In Italy, Leapmotor accounted for about 30% of EV sales in the first quarter, and if other Chinese brands are included, their combined share approaches 40%.
China recovers, but still in the red
In March, China saw a sharp recovery: EV sales almost doubled compared to February after a slowdown caused by the Chinese New Year.
However, the world's largest EV market is still down 21% year-to-date. Policy changes continue to put pressure on domestic demand.
Chinese automakers are increasingly relying on exports to offset declining domestic demand. But there's a catch: overseas inventories are growing, suggesting that overseas sales are not keeping pace with supply.
North America in decline
North America had a tough start to the year. EV sales fell 27% in the first quarter compared to the same period in 2025, with sharp declines seen in both the US and Canada.
However, March showed some recovery. Fuel prices in the US also rose, and over 100,000 EV sales were recorded – the highest monthly figure since federal tax credits expired in the third quarter of 2025.
Automakers are also cutting costs. Honda recently halted development of its Honda 0 Series EVs, and Afeela models produced as part of a joint venture with Sony were also canceled.
Growth in the rest of the world
Outside the major markets, growth is accelerating rapidly.
New Zealand stands out among other countries: in March, EV registrations increased by 263% compared to the same period last year. This allowed for a forecast of more than 100% growth in sales in 2026.
Australia also showed significant growth: in March, EV sales increased by 89% compared to last year. This is even slower than at the beginning of the year, when growth was 111%, but still enough to set a new monthly record – more than 2,000 units more than the previous peak.
Rising fuel prices are also playing a role. Since the start of the war with Iran, prices have risen by more than 20% in some parts of Oceania, raising concerns about fuel supplies and pushing more and more buyers towards electric vehicles.