Your Monthly EV Market Boost – February 2026
Market Snapshot
Global electric vehicle sales (BEV, PHEV and fuel cell) reached 1.2 million units through January 2026, down 3 percent year-over-year. China holds 50 percent of global market share. (Read More)
· The market decline was driven largely by China, where sales dropped 20 percent year-over-year and 55 percent month-over-month.
· The slowdown in China reflects two policy shifts: the introduction of a new EV purchase tax and reduced trade-in incentives for 2026.
EVs accounted for 7.8 percent of U.S. new light-vehicle sales in January, below the 10.4 percent share recorded in 2025, per Omdia estimates. EV sales fell 26 percent year-over-year in January (roughly 30,000 units), with nearly all automakers posting declines. Only Tesla, Rivian, Volvo Cars and Mitsubishi Motors recorded modest gains.