Global EV and Hybrid Sales January 2026: Full Report
As we move deeper into 2026, the global electric vehicle (EV) and hybrid market reflects a mix of resilient growth in key regions and policy-driven challenges elsewhere. Full-year 2025 data from sources like Rho Motion, Benchmark Mineral Intelligence, and EV Volumes shows plug-in EVs (BEVs and PHEVs) reached 20.7 million units, up 20% year-over-year, representing about 25% of new passenger car sales worldwide. Conventional hybrids (non-plug-in) continued gaining ground as a practical bridge technology, particularly in markets facing EV infrastructure or incentive hurdles.
Early 2026 indicators, including January reports, suggest moderated momentum overall. Global light-vehicle sales started seasonally slower, with projections for steady but slower EV growth around 15-16% for the year (to ~23.9 million plug-ins). Hybrids are expected to see even stronger relative gains in transitional markets.
2025 Full-Year Recap and 2026 Outlook
- Global Plug-in EV Sales (2025): 20.7 million units (+20% YoY).
- China: 12.9 million (+17%).
- Europe: 4.3 million (+33%).
- North America: 1.8 million (-4%).
- Rest of World: 1.7 million (+48%).
- 2026 Projections (Benchmark/Rho Motion): ~23.9 million plug-ins (+15.7%), with China accelerating (+21%), Europe steady (~15%), Rest of World strong (~26%), but North America declining sharply (-23%, including -29% in the US) due to expired federal incentives and policy shifts.
January 2026 data remains preliminary, with monthly figures typically emerging mid-month. US retail sales started softer (projected ~908,500 total new vehicles, EVs at ~6.6%, PHEVs ~0.9%, hybrids ~14.7%). In China, early signs point to continued high volumes but potential Lunar New Year impacts. Europe shows revival from renewed subsidies.
Country-Wise Breakdown (2025 Data with Early 2026 Trends)
- China: The undisputed leader, producing ~71% of global EVs. PHEVs grew faster in recent periods, driven by extended-range models and incentives. Early 2026 trends suggest sustained strength, though some slowdowns from policy tweaks (e.g., partial tax exemptions ending).
- United States: Facing headwinds post-2025 incentive expirations. January 2026 projections show EVs at lower shares (~6.6% retail), with hybrids outperforming as consumers opt for transitional options. Overall 2026 decline expected amid reduced manufacturer focus on pure EVs.
- Europe: Strong rebound anticipated with targeted subsidies for low/middle-income buyers in France, Germany, Sweden, and others. December 2025 saw BEVs overtake petrol in some EU data, signaling momentum into 2026.
- Emerging Markets (Rest of World): Explosive growth from affordable Chinese exports. Countries like Brazil, Thailand, Indonesia, and Türkiye saw rapid rises—Türkiye ranked fourth in Europe for BEV sales in 2025. Hybrids fill infrastructure gaps effectively here.
Hybrids (conventional and plug-in) are thriving globally as a flexible choice, especially where charging lags or range anxiety persists. In regions like the US and parts of Europe/Asia, they bridge to full electrification.
Why This Shift Matters for NRIs and Global Investors
The EV/hybrid transition offers opportunities in sustainable tech, battery innovation, and emerging markets. For Non-Resident Indians (NRIs), India’s growing EV ecosystem and global supply chains present investment angles in renewables and mobility.
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