Global electric car sales are expected to rise again in 2026 despite a weak start to the year, reaching 23 million vehicles and making up close to 30 percent of all cars sold worldwide, the International Energy Agency said on Wednesday.
Falling battery prices, growing cost competitiveness and possible policy responses to the current energy crisis are expected to support further demand, the IEA said in its Global EV outlook report.
Preliminary signs suggest EV sales are increasing in countries with supply concerns as a result of the current global energy crisis, or where fuel price increases have been particularly steep, the IEA said.
However, the full implications of the current crisis will take time to register in the car market, due in part to the lag between vehicle orders and deliveries, it said.
Global first-quarter 2026 sales fell 8 percent year-on-year after policy changes in China and the United States, the data showed.
However, growth remained strong elsewhere, with Europe up nearly 30 percent, Asia Pacific excluding China up 80 percent and Latin America up 75 percent, the data showed.
Electric cars’ market share in Southeast Asia is expected to be a key growth region and could rise to 60 percent by 2035, helped by supportive prices and policies.
The global EV fleet, excluding two- and three-wheelers, could reach as many as 510 million vehicles by 2035, up from nearly 80 million today, even without new policy announcements, the IEA said.
Reuters
