Global EV Market Split: February 2026 Sales Hit 1.1 Million

The global electric vehicle market is experiencing a sharp regional divergence. According to data released on March 12, 2026, global EV sales totaled 1.1 million units in February. While this represents a significant volume, the market is splitting into two different directions: Europe is accelerating due to renewed subsidies, while North America is seeing a steep decline.

Overall, global sales for the first two months of 2026 reached 2.2 million units, down 8% compared to the same period in 2025.

Regional Sales Performance (Year-to-Date)

The contrast between major markets has never been more pronounced. Europe has become the primary engine of growth, whereas the US market is struggling with policy shifts.

Europe: The New Growth Engine

Europe’s EV market rose 1% month-over-month in February and is up significantly for the year. This surge is driven by the return of aggressive government support.

• Italy’s Record Month: Sales in Italy jumped 98% year-to-date. This follows the October 2025 launch of a subsidy program offering up to €11,000 for households.
• Germany & France: Germany introduced a new subsidy scheme at the start of 2026, leading to a 26% increase in sales. France follows closely with 30% growth.
• Regulatory Push: European automakers are ramping up deliveries to meet strict EU tailpipe emission targets and avoid heavy fines.

The US: A Sharp Decline

In contrast, North America’s EV market is in a period of “readjustment.” Sales remain down 36% year-to-date, largely due to the removal of federal incentives.

• Policy Impact: The elimination of federal tax credits on September 30, 2025, has caused a massive drop in demand.
• Automaker Struggles: Ford reported a 70% drop in BEV sales so far this year. Honda and Kia have seen similar declines of 81% and 52% respectively.
• Supply Chain Ripple: Battery manufacturer SK On recently laid off 37% of its workforce at its Georgia factory due to the cooling demand.

China: Adjustment and Export Boom

While China’s domestic sales fell 26% as the country adjusts to new purchase taxes, its presence on the world stage is actually growing.

• Export Surge: Chinese automakers shipped over 500,000 EVs overseas in January and February—more than double the previous year.
• Market Share: Despite the domestic dip, China still accounts for roughly half of all global EV sales.

South Korea’s Standout Month

Outside the “Big Three” markets, South Korea set a new record in February 2026. Sales tripled month-over-month to over 37,000 units. This spike followed the 2026 subsidy announcement, which prioritizes affordable EVs under $36,000.