Global electric vehicle registrations fell 3% year-on-year to nearly 1.2 million units in January 2026, dragged down by policy shifts in China and the US.
Regional Breakdown
China saw a sharp 20% drop to under 600,000 units—the lowest in nearly two years—after new purchase taxes and reduced subsidies took effect.
North America declined 33% to just over 85,000 vehicles, hitting the US’s lowest monthly EV sales since early 2022 amid Trump’s policy reversals.
Growth Elsewhere
Europe bucked the trend with 24% growth to over 320,000 registrations, though at its slowest pace since early last year.
Other regions surged 92% to nearly 190,000, driven by incentives in Thailand, plus strong gains in South Korea and Brazil.
Industry Context
Automakers wrote down $55 billion in assets last year due to US challenges, Chinese competition, and easing regulations in key markets.
Experts anticipate continued Chinese EV exports to offset domestic weakness, targeting Southeast Asia amid a more market-driven 2026.
