27th May 2026
According to data from the International Energy Agency (IEA) Global EV Outlook, global EV sales surpassed a record 20.7 million units, meaning one in four new cars sold worldwide was electric. However, a major divergence has emerged: while Europe and emerging global markets are experiencing massive growth, the United States is seeing a sharp decline.
The Global Picture: Growth vs. Cool-Down
The phrase "soaring" applies perfectly to some regions but is entirely inaccurate for others.
Where sales are soaring
Europe led major regional growth with an expansion of over 30%. Meanwhile, "rest of the world" markets (like Southeast Asia and Latin America) saw explosive surges of over 80%.
Where sales are stalling
The US market has experienced a sharp downturn, dropping more than 25% year-on-year following the removal of federal tax credits. China has also seen its explosive multi-year growth pace slow down into a period of stabilization and domestic policy adjustments.
The Top Global EV Countries
When looking at the dominant forces in the electric transition, the leaders are divided by absolute sales volume (sheer size) versus market penetration (percentage of all cars sold).
By Volume (Who buys the most EVs?
China: The undisputed global giant. Chinese automakers supply roughly 60% of all global EV sales and the country accounts for over half of the worldwide market.
United States: Despite recent steep quarterly declines, the US remains the second-largest volume market globally.
Germany: Europe’s largest industrial car market, which rebounded strongly to reach around 850,000 annual sales.
By Market Share (Where are EVs most dominant?)
Norway: The world leader in per-capita adoption. An astonishing 97.4% of all new cars sold in Norway are electric.
Denmark & Sweden: Nordic countries continue to dominate, boasting market shares of 71.1% and 63.2% respectively.
China: Beyond raw volume, over 53% of all new passenger vehicles sold domestically in China are electric.
Where Does the UK Sit?
The United Kingdom is a major global player, firmly established as the fourth-largest electric car market in Europe (behind Germany) and a top-five volume market globally.
Market Share Milestone
The UK hit a monumental milestone when its two-millionth electric car was officially registered.
The Current Data
Electric vehicles represent roughly 23.4% of all new car registrations in the UK. This means nearly one in four new cars hitting British roads has a plug.
The Policy Headwinds
Despite a 25% annual increase in domestic EV sales, car manufacturers actually fell short of the UK's strict Zero Emission Vehicle (ZEV) mandate, which legally targeted a 28% sales share. Automakers avoided heavy penalties only by utilizing regulatory flexibilities, such as borrowing credits from future trading years.
The Bright Spot
The UK has become highly competitive on price due to an influx of cheaper models and a fresh government subsidy for battery EVs priced under £37,000, keeping momentum stronger than in North America.