Global Ev Sales Reach 1.1 Million In February 2026

Global electric vehicle sales reached 1.1 million units in February 2026, highlighting a mixed start to the year for the EV market. While some regions continue to expand rapidly, others are facing declining demand and policy-driven adjustments.

According to research from Benchmark Mineral Intelligence, February sales were down 11% year-over-year compared with February 2025, and also 11% lower than January 2026.

Despite the monthly drop, the broader market still shows significant regional variation, with Europe driving growth while North America and China struggle with structural changes.

Global EV Market Snapshot

For the first two months of the year, global EV sales totaled 2.2 million units, representing an 8% decline compared to the same period in 2025.

Regional performance varies significantly:

– China: 1.1 million units, -26%
– Europe: 0.6 million units, +21%
– North America: 170,000 units, -36%
– Rest of World: 370,000 units, +84%
According to Benchmark Mineral Intelligence Data Manager Charles Lester, the divergence between regional EV markets is becoming increasingly pronounced in 2026.

“Europe continues to act as the engine of growth, while North America remains in retreat and China adjusts to structural policy changes at home, even as exports accelerate.”

Europe Continues to Lead EV Growth

Europe remains the strongest performing EV market in early 2026. Sales in the region rose 1% month-on-month in February, leaving the market 21% higher year-to-date.

Two of the region’s largest markets are leading the charge:

– Germany: EV sales up 26% year-to-date
– France: EV sales up 30% year-to-date

Both markets are benefiting from active government incentive programs. Germany launched a new EV subsidy scheme at the start of 2026, while France continues to operate the incentive program introduced in late 2025.

Meanwhile, Italy posted a record February for EV sales. The country’s market grew 23% month-on-month and is now up 98% year-to-date.

Italy’s surge follows the launch of a generous subsidy program in October 2025 backed by the EU Recovery and Resilience Facility, offering up to €11,000 in support for households and up to €20,000 for small businesses purchasing EVs.

The initiative is designed to boost EV adoption among lower-income consumers and small enterprises.

North America Struggles as EV Demand Weakens

The EV market in North America remains under significant pressure.

Although sales rose 8% month-on-month in February, the region is still down 36% year-to-date.

The downturn is largely driven by declining battery electric vehicle (BEV) demand in the United States, where several automakers have experienced sharp sales declines:

– Ford Motor Company BEV sales down 70% YTD
– Honda Motor Co., Ltd. down 81%
– Kia Corporation down 52%

The slowdown is also affecting the EV supply chain. Battery manufacturer SK On recently laid off 37% of its workforce at its facility in Georgia due to weakening demand.

In Canada, EV sales in the passenger car and light-duty vehicle segment are down 23% year-to-date.

The Canadian government is attempting to stimulate demand through new trade policies. Following a January 2026 agreement with China, Chinese-made EVs can now enter Canada at a reduced tariff rate of 6.1%.

The first permit application window opened on March 1, 2026, allowing up to 24,500 import permits to be issued over six months.

Canada is also expanding collaboration with Germany on EV and battery supply chains, including increased vehicle trade.

China Adjusts to Policy Changes

The EV market in China — the world’s largest — experienced a significant slowdown early in the year.

Sales in February declined 32% year-over-year, reflecting the impact of:

– The reintroduction of a purchase tax, the first since 2014
– Changes to the national vehicle trade-in scheme
– The seasonal impact of Chinese New Year

However, China’s EV export sector is booming. In the first two months of 2026, Chinese EV exports more than doubled year-over-year, surpassing 500,000 units as domestic manufacturers increasingly focus on international markets.

Rest of World Sees Rapid Growth

Outside the major markets, EV adoption is accelerating quickly.

The Rest of World (RoW) segment recorded 78% growth in February compared to the same month in 2025, maintaining the strong momentum seen at the start of the year.

A standout performer is South Korea, where EV sales surged to over 37,200 units in February, more than tripling from the previous month.

This marks the first time the country’s monthly EV sales have exceeded 30,000 units, with EV market penetration reaching a record 30%.

The spike follows the announcement of South Korea’s 2026 EV subsidy program, which prioritizes smaller and more affordable electric vehicles.

Analysts expect demand to remain sensitive to subsidy budgets, with consumers rushing to secure incentives before funding limits are reached.

A Market Defined by Regional Divergence

The early months of 2026 highlight a clear split in the global EV landscape. Europe and emerging markets continue to expand rapidly thanks to supportive policies, while North America and China navigate structural changes affecting demand.

As automakers adapt their strategies and governments refine incentive programs, the coming months will reveal whether the current slowdown in some regions is temporary — or the beginning of a more uneven phase in the global EV transition.

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