Global EV Sales Climb As Europe Rebounds North America Returns to Growth
(MENAFN) Worldwide electric vehicle sales increased by 8% year-on-year in October, reaching 2.09 million units as stronger demand across Europe and a return to annual growth in North America supported the market, according to industry data released Thursday.
Despite the annual improvement, global deliveries declined by 3% compared with September, when sales reached a record level.
Total EV deliveries during the first 10 months of the year amounted to 17.5 million units, representing a 5% increase from the corresponding period last year.
Europe recorded particularly strong performance, with electric vehicle sales rising 36% annually to 510,000 units. Battery electric vehicles accounted for much of the expansion, registering a 49% increase.
Germany achieved its highest EV market penetration since December 2022, with electric models representing more than 45% of newly sold cars. The UK also reported solid growth, as sales advanced 30% compared with October last year.
North America experienced a 24% annual increase in EV sales, reaching 130,000 units and marking its first year-on-year expansion in 2026. The improvement was largely attributed to a weaker comparison base following the expiration of US federal tax incentives in late 2025.
In contrast, China's domestic electric vehicle market faced a slowdown, with sales falling 12% year-on-year to 1.14 million units amid weaker consumer demand.
Nevertheless, Chinese manufacturers continued expanding their presence overseas. Exports of passenger new energy vehicles reached a monthly record of nearly 600,000 units in October, offsetting some of the weakness in the domestic market.
Markets outside China, Europe and North America also delivered significant gains. Combined EV sales across these regions surged 85% annually to 300,000 units, supported by rapid growth in countries including Australia and Brazil.
Despite the annual improvement, global deliveries declined by 3% compared with September, when sales reached a record level.
Total EV deliveries during the first 10 months of the year amounted to 17.5 million units, representing a 5% increase from the corresponding period last year.
Europe recorded particularly strong performance, with electric vehicle sales rising 36% annually to 510,000 units. Battery electric vehicles accounted for much of the expansion, registering a 49% increase.
Germany achieved its highest EV market penetration since December 2022, with electric models representing more than 45% of newly sold cars. The UK also reported solid growth, as sales advanced 30% compared with October last year.
North America experienced a 24% annual increase in EV sales, reaching 130,000 units and marking its first year-on-year expansion in 2026. The improvement was largely attributed to a weaker comparison base following the expiration of US federal tax incentives in late 2025.
In contrast, China's domestic electric vehicle market faced a slowdown, with sales falling 12% year-on-year to 1.14 million units amid weaker consumer demand.
Nevertheless, Chinese manufacturers continued expanding their presence overseas. Exports of passenger new energy vehicles reached a monthly record of nearly 600,000 units in October, offsetting some of the weakness in the domestic market.
Markets outside China, Europe and North America also delivered significant gains. Combined EV sales across these regions surged 85% annually to 300,000 units, supported by rapid growth in countries including Australia and Brazil.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept any
responsibility or liability for the accuracy, content, images, videos,
licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright issues
related to this article, kindly contact the provider above.
Comments
No comment