From Jan to Apr 2026, Global Electric Vehicle Deliveries Recorded 5.889 Mil Unit, a 2.3% YoY Growth
- Europe maintains steady growth (27.3%), while both China and North America see a double-digit drop; -12.8% and -28.2%, respectively.
(Source: Global EV and Battery Monthly Tracker – May 2026, SNE Research)
From January to April 2026, global electric vehicle (BEV+PHEV) deliveries totaled 5.889 million units, marking a 2.3% year-on-year increase. Although the Chinese market still accounted for more than half of the total demand, it contracted by 12.8% year-on-year, capping the global growth rate. Conversely, Europe, Asia (excluding China), and other regions recorded high growth rates, demonstrating a distinct trend of regional demand reshaping.
(Source: Global EV and Battery Monthly Tracker – May 2026, SNE Research)
Looking at global EV deliveries by automotive group during this period, BYD retained its top position with 857,000 units, but its volume fell by 24.0% year-on-year, causing its market share to drop from 19.6% to 14.5%. Geely also ranked second with 591,000 units but saw a 5.5% decrease, while SAIC and Changan remained stagnant with modest growths of 1.1% and 2.4%, respectively, confirming a widespread growth slowdown among major Chinese manufacturers. This outcome is interpreted as a direct reflection of the 12.8% year-on-year decline in Chinese market sales.
Tesla and Volkswagen recorded 458,000 and 422,000 units, growing by 8.0% and 2.8% year-on-year, respectively. Amid a modest global market growth of 2.3%, Tesla showed a relatively resilient performance, lifting its market share from 7.4% to 7.8%, while Volkswagen sustained stable growth backed by the recovery of the European market. Chery also displayed a relatively favorable trend among Chinese automakers, growing by 19.3% to 222,000 units.
Hyundai Motor Group recorded 234,000 units, posting a 22.5% year-on-year increase—the highest growth rate among the top 10 groups. Its market share also rose from 3.3% to 4.0%. This highlights that its sales expansion in non-China regions continued despite the slowing growth of the overall global market. Considering the prominent growth in Europe and Asia (excluding China), the regional demand recovery is interpreted to have worked favorably for Hyundai Motor Group's performance improvement.
On the other hand, BMW fell by 7.6% to 176,000 units, and Stellantis decreased by 4.0% to 167,000 units, revealing a differentiated trend even among major European groups. Sales by other manufacturers outside the top 10 groups reached 2.179 million units, a 17.4% increase, expanding their market share from 32.2% to 37.0%. This suggests that market concentration on a few leading companies is easing slightly in the global EV market, while the share of mid-sized OEMs with regional strengths is rising.
(Source: Global EV and Battery Monthly Tracker – May 2026, SNE Research)
By region, China remained the largest market with 3.088 million units, but its volume decreased by 12.8% year-on-year, causing its market share to drop from 61.5% to 52.4%. Conversely, Europe expanded by 27.3% to 1.56 million units, stretching its market share from 21.3% to 26.5%. North America recorded 402,000 units, marking a 28.2% decline—the sharpest contraction among major regions—while Asia (excluding China) surged by 82.6% to 597,000 units, with its market share climbing from 5.7% to 10.1%. Other regions also grew by 126.0% to 243,000 units, confirming an expansion centered on emerging markets.
This trend indicates that from January to April 2026, the global EV market has entered a phase where its growth axis is being reorganized based on regional policy environments and demand recovery speeds, rather than a simple expansion of total demand. While China's share remains high, the simultaneous decline in sales and market share compared to the previous year shows that the existing China-centric growth structure is easing to some extent. On the other hand, the expanding shares of Europe, Asia (excluding China), and other regions imply that the growth contribution of non-China markets is increasing.
The realignment trend of the global EV market as of January to April 2026 is highly likely to continue for the time being. As China and North America post double-digit declines, the sales expansion in Europe and emerging markets is offsetting the drop. Consequently, the impact of automakers' regional portfolios and local market responsiveness on market share fluctuations is projected to grow even further. In particular, moving forward, key variables dictating performance by OEM will include not only the recovery of China's domestic market but also the sustainability of European demand, the expansion of the non-China Asian market, and shifting policy environments in North America.