China Captures 56% of Global BEV Market and 73% of PHEV Market in Q1 2026

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.