Global electric vehicle sales reached 22 million units in Q1 2026, representing 28% of all new car sales worldwide. China alone accounted for 61% of global EV sales, with BYD surpassing Volkswagen as the world's second-largest automaker by volume.
The US EV market share reached 19%, up from 14% in Q1 2025, driven by lower prices and expanded charging infrastructure. Tesla's market share declined to 47% as competition from Hyundai, Ford, and Chinese entrants intensified.
The average EV price in the US fell to $38,400, below the average new car price of $41,200 for the first time. Battery cost reductions are the primary driver.
Charging infrastructure remains the biggest barrier to adoption. The US now has 182,000 public charging points, but analysts estimate 500,000 are needed by 2030 to support projected EV volumes.