{"id":890384,"date":"2026-03-05T06:18:10","date_gmt":"2026-03-05T06:18:10","guid":{"rendered":"https:\/\/www.electronicsweekly.com\/?p=890384"},"modified":"2026-03-05T10:20:52","modified_gmt":"2026-03-05T10:20:52","slug":"ev-sales-growth-to-slow-from-26-yoy-last-year-to-14-yoy-this-year","status":"publish","type":"post","link":"https:\/\/www.electronicsweekly.com\/news\/business\/ev-sales-growth-to-slow-from-26-yoy-last-year-to-14-yoy-this-year-2026-03\/","title":{"rendered":"EV sales growth to slow from 26% YoY last year to 14% YoY this year"},"content":{"rendered":"<p>EV sales, including Battery EVs (BEVs), Plug-In Hybrid EVs (PHEVs), and Fuel Cell Vehicles (FCVs), reached 20.53 million units in 2025, up 26% YoY, says TrendForce.<\/p><div class=\"elect-content\" style=\"margin-left: auto; margin-right: auto; text-align: center; \" id=\"elect-1867335418\"><div id=\"x02\">\r\n<script type=\"text\/javascript\"> if ($(window).width() <= 768) { googletag.display('x02'); } <\/script>\r\n<\/div>\r\n<\/div>\n<p>Growth is expected to moderate in 2026. With China\u2019s market expansion slowing, global EV sales are projected to reach 23.4 million units, representing a reduced growth rate of 14% YoY.<\/p><div class=\"elect-test\" style=\"margin-left: auto; margin-right: auto; text-align: center; \" id=\"elect-327438175\"><div id=\"DFP-EW-InRead1\">\r\n<script type=\"text\/javascript\"> if ($(window).width() > 768) { googletag.display('DFP-EW-InRead1'); } <\/script>\r\n<\/div>\r\n<BR>\r\n<\/div>\n<p>China accounted for approximately 66% of global EV Q2 sales in 2025. However, its annual growth slowed to 24% due to a high comparison base, putting it slightly below the global average.<\/p><div class=\"elect-post-content-2\" style=\"margin-left: auto; margin-right: auto; text-align: center; \" id=\"elect-1891146890\"><div id=\"DFP-EW-InRead1-Mobile\">\r\n<script type=\"text\/javascript\"> if ($(window).width() <= 768) { googletag.display('DFP-EW-InRead1-Mobile'); } <\/script>\r\n<\/div>\r\n<\/div>\n<p>Western Europe, in contrast, recorded nearly 30% YoY growth, marking its strongest performance since 2022.<\/p>\n<p>In the 2025 BEV rankings, BYD (brand) posted approximately 25% YoY growth, overtaking Tesla to claim the top position.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-890385 size-full\" src=\"https:\/\/static.electronicsweekly.com\/wp-content\/uploads\/2026\/03\/02233852\/IMG_1822.webp\" alt=\"EV sales growth to slow from 26% YoY last year to 14% YoY this year\" width=\"1080\" height=\"560\" srcset=\"https:\/\/static.electronicsweekly.com\/wp-content\/uploads\/2026\/03\/02233852\/IMG_1822.webp 1080w, https:\/\/static.electronicsweekly.com\/wp-content\/uploads\/2026\/03\/02233852\/IMG_1822-300x156.webp 300w, https:\/\/static.electronicsweekly.com\/wp-content\/uploads\/2026\/03\/02233852\/IMG_1822-1024x531.webp 1024w, https:\/\/static.electronicsweekly.com\/wp-content\/uploads\/2026\/03\/02233852\/IMG_1822-768x398.webp 768w\" sizes=\"auto, (max-width: 1080px) 100vw, 1080px\" \/><\/p>\n<p>Tesla experienced an estimated 9% annual decline, reflecting limited momentum in product refreshes.<\/p>\n<p>SAIC-GM-Wuling maintained third place, while Geely climbed to fourth, driven by strong demand for its sub-CNY 100,000 Xingyuan model. Geely\u2019s market share surged from 3% to 6%.<\/p>\n<p>Xiaomi also saw rapid gains, doubling its share from 1% to 3% to rank eighth.<\/p>\n<p>Although Volkswagen recorded overall sales growth, continued weakness in China led to a decline in ranking and market share. In an effort to reposition itself, Volkswagen launched its China-focused sub-brand ID.UNYX and deepened collaboration with Xpeng.<\/p>\n<p>Jointly developed models will enter the market in 1Q26, marking a strategic reset in China.<\/p>\n<p>Geely rose to no.2 in the PHEV segment on Galaxy Series strength.<\/p>\n<p>In the PHEV segment, BYD maintained leadership with approximately 31.5% market share in 2025. However, it recorded its first decline in both sales volume and share, while group-level share stood at around 36%.<\/p>\n<p>Geely advanced to second place with 6.3% share, supported by its Galaxy lineup. Both BYD and Geely, as large automotive groups, benefit from strong cost control and advantages in resource integration.<\/p>\n<p>By contrast, Li Auto, the 2024 runner-up, faced intensified competition in China and slower overseas expansion. Its 2025 sales fell approximately 30%, dropping to fifth place. The company is ramping up investment in AI-driven vehicle technologies to regain competitiveness.<\/p>\n<p>TrendForce highlights significant policy changes across major markets in 2026:<\/p>\n<ul>\n<li>China is shifting subsidies from fixed-amount incentives to price-based percentages, potentially disadvantaging lower-priced models.<\/li>\n<li>The United States will no longer provide federal EV subsidies.<\/li>\n<li>Germany has reinstated subsidies without country-of-origin restrictions, which may benefit Chinese-made EVs.<\/li>\n<\/ul>\n<p><a rel=\"image\" href=\"https:\/\/www.electronicsweekly.com\/market-sectors\/automotive-electronics\/\" target=\"_blank\" rel=\"noopener\">See all our Automotive content<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EV sales, including Battery EVs (BEVs), Plug-In Hybrid EVs (PHEVs), and Fuel Cell Vehicles (FCVs), reached 20.53 million units in 2025, up 26% YoY, says TrendForce. Growth is expected to &#8230;<\/p>\n","protected":false},"author":3,"featured_media":890385,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12692,16039],"tags":[12909],"class_list":["post-890384","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-automotive-electronics","category-business","tag-automotive"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.7 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>EV sales growth to slow from 26% YoY last year to 14% YoY this year | Electronics Weekly<\/title>\n<meta name=\"description\" content=\"EV sales, including Battery EVs (BEVs), Plug-In Hybrid EVs (PHEVs), and Fuel Cell Vehicles (FCVs), reached 20.53 million units in 2025, up 26% YoY, says\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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