Global EV sales have surged over the last five years, driven by policy incentives, battery cost reductions, and expanding model lineups, particularly in China. Market share has risen from around 9% in 2021 to over 24% in 2025. Projections indicate continued growth into 2026, though at a moderated pace due to subsidy changes and market saturation in key regions.
Sales Trend
Annual global EV sales (including BEVs and PHEVs) grew from approximately 6.6 million units in 2021 to a record 20+ million in 2025, reflecting compound annual growth exceeding 25%. China dominated with over 60% share, while Europe and emerging markets saw 25-30% yearly increases. North America lagged relatively, with slower growth post-2024 due to incentive shifts.
Market Share Growth
EV penetration in new car sales climbed steadily: 9% in 2021, 14% in 2022, 18% in 2023, 22% in 2024, and 24% in 2025. This trend was fueled by affordable models from Chinese OEMs like BYD and falling battery prices. By late 2025, monthly sales routinely exceeded 2 million units globally.
2026 Projection
Global EV sales are forecasted at 21-23 million units in 2026, capturing 25-27.5% market share, up from 2025 but with growth slowing to 12-15% amid U.S. tax credit cuts and European policy hesitancy. China will likely maintain leadership, while emerging markets accelerate via affordable imports. Battery advancements and new models could mitigate headwinds. Below is an interactive visualization of the industry trend over the period, including the projection (*) for 2026.