Overview
- Benchmark Mineral Intelligence projects 2026 global EV sales of about 24 million vehicles, a 13% increase that marks the slowest annual growth since 2020.
- China is expected to reach roughly 15.5 million EVs in 2026, with expansion still in double digits but below the pace seen from 2020 to 2025.
- U.S. EV sales are forecast to drop 29% in 2026 to about 1.1 million after a 2025 peak near 1.5 million.
- Europe is projected to grow about 14% in 2026 to around 4.9 million EVs following an estimated 33% jump in 2025.
- Executives cite reduced U.S. incentives, EU easing of its 2035 combustion-car plan, and infrastructure limits as drivers of a shift toward hybrids, as seen in Ford’s EV program cuts and $19.5 billion impairment and BYD overtaking Tesla in 2025.