Global hybrid & electric vehicle sales forecast

GlobalData

Tue, April 21, 2026 astatine 12:48 PM CDT 4 min read

• In 2025, BEVs accounted for 17.3% of planetary Passenger Car sales, up from 13.8% successful 2024. Over 13.6 mn units were sold, with the full rising to 14.4 mn units erstwhile including BEV LCVs. Sales of LV FHEVs and PHEVs stood astatine 7.3 mn units and 5.7 mn units, respectively.

• However, successful January-February 2026, planetary BEV income fell by 9% YoY to 1.41 mn units, down from 1.55 mn units during the aforesaid play successful 2025. This was mostly owed to continued weakness successful the US Plug-in market, positive brushed marketplace and NEV request successful China.

• Having reached 20% successful the last 2 months of 2025, BEV stock of planetary Passenger Car income dropped to 13.1% successful February 2026.

• The lone electrified exertion to marque coagulated advancement truthful acold successful 2026 is FHEV, which is approaching a 12% stock of planetary Passenger Car volumes.

• PHEV income besides mislaid momentum successful January-February, again mostly relating to China’s NEV slowdown.

• The sluggishness of the Plug-in assemblage is fundamentally a China issue, considering that it dominates volumes successful the country. However, determination are encouraging signs that the manufacture is regaining momentum. Europe’s BEV marketplace continues to advance, with Big 5 PV BEV income up 47% YoY successful March, portion aboriginal indicators suggest that China’s NEV income rebounded during the period to levels seen a twelvemonth earlier, reversing the downward trajectory of January and February.

• The US Plug-in marketplace remains astatine a debased ‘new normal’ level but does not look to beryllium sinking immoderate further.

Electrified income by region: update and outlook

• Europe: Full-year 2025 saw pan-Europe LV BEV income of conscionable nether 2.94 mn units, a important emergence from 2024’s 2.25 mn result. Electrification, from MHEVs to BEVs combined, grew to 9 mn units successful 2025, up from 7.5 mn units successful 2024. The momentum has broadly carried connected successful 2026, though 2025’s 30% BEV maturation complaint slowed successful the archetypal 2 months of the year. We bash not yet person afloat March data, but it appears to person been a beardown period for BEV demand, bringing the YTD maturation complaint person to 30% erstwhile again. Chinese brands proceed to marque headway, though the results are mixed and are constrained by a deficiency of marque consciousness successful galore markets—Germany being a wide illustration of this headwind. The UK is much accepting, not slightest owed to its little tariffs, and March saw a Chinese model—the Jaecoo 7—become the best-selling exemplary overall.

• US: The malaise that took clasp successful the US LV Plug-in marketplace successful October 2025 has persisted into 2026. BEV stock has fallen by astir a 3rd and is present dependable astatine 6-7% of full PV income (all income excluding Pickups and Vans). Growth turned antagonistic successful October (-40% YoY) and has remained astatine that level ever since. US state prices person been deed reasonably hard successful percent presumption since the outbreak of warfare successful the Middle East, but this is compared to a comparatively debased basal and is much apt to stimulate the Full Hybrid marketplace than the Plug-in marketplace wherever prices stay comparatively precocious present that the taxation recognition mechanics has been removed.

• China: China’s NEV stock of Passenger Car income fell from 55% successful precocious 2025 to beneath 40% by February 2026. Key drivers down the driblet see the demise of the long-running terms war, a little generous and dilatory rolled-out NEV inducement regime, and a authorities ruling that OEMs should absorption connected prime implicit quantity meaning that NEV prices person ratcheted up. However, we bash not expect NEV assemblage maturation to plateau and March already appears healthier than some January and February from a YoY standpoint, present that the revised inducement strategy is successful spot crossed the federation and buyers are much definite that disposable outgo savings tin beryllium recouped. Nonetheless, China is improbable to execute the NEV maturation complaint seen successful 2025 (+18% YoY, +2 mn units). The BEV maturation fig was higher, astatine 31% YoY, but a azygous digit fig is much apt successful 2026.