Global EV market recovery and regional divergence
Key Questions
How are US EV sales trending in 2026?
US EV sales declines have slowed to -0.7% YoY in May, with Q2 showing 15% quarter-over-quarter growth. Incentives and price reductions are helping stabilize demand.
What growth is Europe seeing in EV sales?
Europe recorded 31% year-over-year growth in EV sales for June. Strong regional momentum continues despite global variations.
How is China's EV market performing domestically and via exports?
China's NEV penetration reached 62%, though domestic deliveries fell 13% in H1 2026. Exports rose 150%, offsetting some of the domestic slowdown.
US sales decline slowing (May -0.7% YoY), Q2 QoQ up 15%. Europe up 31% YoY June. China NEV penetration 62% but domestic deliveries down 13% H1 2026; exports up 150%. Used EV market up 22% with price increases. Incentives and price drops support demand.
Sources (2)
Updated Jul 22, 2026