Market Highlights

Key Takeaways:​

• Global BEV sales grew by 24% YoY in Q2 2026.
• Battery electric vehicles (BEVs) continued to dominate, accounting for two-thirds of total EV sales compared with the same period last year. Plug-in hybrids sales (PHEVs and EREVs) remained flat YoY during this quarter.
• BEVs accounted for 19% of global PV sales, up from 16% in the same period last year.
• China remained the key growth engine, contributing 56% of all global BEV sales, followed by Europe and the US.
• At the model level, the Tesla Model Y, Galaxy Xingyuan and Tesla Model 3 emerged as the world’s best-selling EVs during this quarter.

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Top OEM Analysis:​

BYD Auto

BYD Auto Group maintained its clear lead in the global BEV market, with nearly 0.6 million BEV sales in Q2 2026. However, BYD’s BEV sales declined 8% YoY, with BEVs accounting for around 51% of the company’s total EV sales. BYD’s BEV exports also declined 15% YoY during the quarter. BYD’s key strength is its diversified portfolio across BEVs, PHEVs and EREVs, particularly in the compact SUV and sedan segments. Competitive pricing, large-scale production and strong vertical integration continue to support its market position. The BYD Dolphin, Seagull and Yuan UP were among the company’s top-selling models in Q2 2026.

Tesla

Tesla remained the second-largest BEV brand globally in Q2 2026, with nearly 12% market share and sales increasing 25% YoY. However, Tesla’s U.S. sales declined around 20% YoY, mainly due to the end of the federal EV tax credit and growing competition in the U.S. EV market. Tesla’s global sales growth was supported by stronger demand for the Model 3 and Model Y, which together accounted for more than 97% of the company’s Q2 2026 deliveries. However, Tesla continues to face growing competition from Chinese automakers, especially in price-sensitive markets. The company continues to differentiate itself through its software, charging network, autonomous-driving technology and manufacturing efficiency. Tesla is also focusing on new growth areas, including lower-cost EVs, Robotaxi and AI technologies.

Geely Holding

Geely Holding Group secured third place in global BEV ranking with a 9% share and 5% YoY growth. The group benefited from strong momentum across its Galaxy and Zeekr brands in China’s budget and mid-tier EV segments. Geely’s strategy of offering affordable EVs with advanced software and smart features continues to attract domestic consumers and strengthen its position in China’s highly competitive EV market. Among its brands, Galaxy contributed to almost half of the group’s total BEV sales. The Galaxy Xingyuan and ZEEKR 7X were the group’s top-selling BEV models during the period.

*Data on this page is updated every quarter
Sales* here refer to wholesale figures, i.e. deliveries out of factories by respective brands.
For EVs, we consider only BEVs. PHEVs, HEVs and fuel cell vehicles (FCVs) are not included in this study.

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