From the data gurus at TrendForce, May 27:
Global NEV Sales Fell by 2% YoY for 1Q26 as Tesla Reclaimed BEV Sales Lead, Says TrendForce
According to the latest research by global market intelligence firm TrendForce, global sales of new energy vehicles (NEVs)—including battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and hydrogen fuel cell vehicles—reached 3.94 million units in 1Q26, marking a 2% YoY decline. NEVs accounted for 19% of global car sales during the quarter. China’s NEV market underperformed, but Western Europe showed signs of recovery, and BEV sales in Japan and South Korea also recorded significant growth.
Reviewing the 1Q26 BEV brand rankings, many Chinese automakers lost market share as their heavy reliance on the domestic market left them exposed to weak local demand, which eroded sales. Against this backdrop, Tesla overtook BYD (referring here to the automotive brand) to regain the top spot in global BEV sales. BYD, Geely, and SAIC-GM-Wuling ranked second to fourth, in order, but all three recorded YoY sales declines. In contrast, fifth-ranked Leapmotor achieved growth by rapidly expanding its product lineup and leveraging a value-for-money strategy. Kia and Toyota also moved up in the rankings, highlighting the risk-mitigating benefits of a diversified global presence.
In the PHEV segment, Chinese brands remained dominant in the first quarter. BYD firmly held the top spot, but its PHEV sales showed a YoY drop, raising concerns about saturation in the domestic market. Intensifying competition at home is prompting major Chinese automakers to shift their strategic focus overseas and to expand their powertrain offerings from pure electric to a broader range of hybrid solutions. Brands such as BYD, Jaecoo (Chery Group), and MG have already recorded notable PHEV sales in overseas markets....
....MUCH MORE, including a handy league table.
