Global electric vehicle sales returned to growth in October 2026, supported by stronger demand in Europe and increased exports from China. According to data released by UK-based research firm Benchmark Mineral Intelligence, worldwide sales of new battery-electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) increased 8% year-on-year to 2.09 million units during the month.
The latest figures indicate an improvement in the global EV market after a period of slower growth. Cumulative sales for the first 10 months of 2026 stood at 17.5 million units, registering a 5% increase compared to the corresponding period last year.
China Records Decline As Exports Reach New High
China, the world’s largest electric vehicle market, continued to report a decline in domestic sales. However, the year-on-year contraction narrowed to 12% in October.
Manufacturers in the country have increasingly focused on overseas markets to offset weaker domestic demand. According to Benchmark Mineral Intelligence, China’s passenger car new energy vehicle (NEV) exports approached 600,000 units in October, marking another monthly record.
The increase in shipments has also contributed to EV sales growth in markets outside China, as manufacturers expand their international presence.
Europe Emerges As A Key Growth Market
Europe recorded a 36% increase in electric vehicle sales in October, making it one of the strongest-performing regions during the month.
Several factors supported this growth, including government incentives, higher fuel prices, stricter emissions regulations and an expanding range of electric and plug-in hybrid models.
The availability of more products across different price segments has also helped improve consumer choice, supporting the region’s transition towards electrified mobility.
US Market Stabilises At A Lower Level
North America returned to growth in October, with sales increasing 24% year-on-year. However, the improvement needs to be viewed in the context of a relatively weak comparison base in the United States.
October was the first month in which US sales were compared against a period when the federal tax credit for electric vehicles was no longer available.
Benchmark Mineral Intelligence noted that the US market appears to have stabilised at a lower sales level rather than witnessing a full recovery in demand. This suggests that the withdrawal of incentives continues to influence the pace of EV adoption in the country.
Rest Of The World Records Strong Growth
Markets outside China, Europe and North America also reported significant gains. Electric vehicle sales across the rest of the world increased 85% year-on-year in October, exceeding the combined sales recorded in North America.
The growth was largely supported by the rising availability of Chinese-made electric vehicles in international markets.
Overall, October’s figures point towards improving momentum in the global EV industry. However, regional differences remain evident, with Europe recording strong growth, China relying increasingly on exports and the US market adjusting to the withdrawal of federal incentives. The coming months will indicate whether the latest improvement can translate into sustained growth across major markets.
| Region | Year-on-Year Change (October 2026) |
|---|---|
| China | -12% |
| Europe | +36% |
| North America | +24% |
| Rest of the World | +85% |
Note: Includes both BEV and PHEV sales in the passenger car and light-duty vehicle segments.
Source: Benchmark Mineral Intelligence data, Reuters
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