Global vehicle sales reached 22.4 million units in the first quarter of 2026 (January–March), with new energy vehicle (NEV) sales totaling 4.53 million units, accounting for 20.2% of total global vehicle sales. Among NEVs, battery electric vehicles (BEVs) represented 13.8%, plug-in hybrid electric vehicles (PHEVs) accounted for 6.4%, and hybrid electric vehicles (HEVs) made up 7.2%. In Q1 2026, China’s share of the global BEV market stood at 56%, down from the approximately 63% level seen between 2023 and 2025, primarily due to seasonal factors at the start of the year that temporarily weakened China’s BEV performance. Meanwhile, China held a 73% share of the global PHEV market during the same period—slightly lower than the 76.4% recorded in 2025 but still remaining at a high level.