Global EV Market on Low Charge in Q1 2026; Emerging Regions Power Growth

• Global EV sales growth slowed to just 1% YoY in Q1 2026 as declines in China and the US offset gains in other regions.
• Europe became the fastest-growing major EV market, with sales rising 32% YoY, supported by Chinese brands continuing to gain market share.
• Emerging markets, including South Korea, Southeast Asia, India and Oceania, recorded strong EV growth, highlighting their increasing importance in the global transition.
• Despite near-term market volatility, every second car sold in 2035 is expected to be an EV, driven by lower battery costs, improved technology and expanding infrastructure.

Global electric passenger vehicle (EV) sales grew just 1% YoY in Q1 2026, according to Counterpoint Research’s latest Global Passenger Electric Vehicle Model Sales Tracker, Q1 2026, report. Battery EVs (BEVs) continued to dominate the market, accounting for 66% of total EV sales, while plug-in hybrid electric vehicles (PHEVs) and extended-range electric vehicles (EREVs) made up the remainder.