BYD Seal 07 second generation (Source: Zhang Zhuo)
Global EV sales rose 8% in October, battery electric vehicle (BEV) sales in Europe rose 49%, and North America recorded its first year-over-year increase in 2026. But that rebound in North America comes with a big catch.
Drivers purchased 2.09 million electric vehicles worldwide last month, according to new data from Benchmark Mineral Intelligence. That’s down 3% from September, but brings sales for the first 10 months of 2026 to 17.5 million, up 5% from the same period last year.
| Region | October 26, millions | yoy | mother | To date, millions | YTD-26 vs YTD-25 |
|---|---|---|---|---|---|
| Porcelain | 1.14 | -12% | 5% | 9.1 | -11% |
| Europe | 0.51 | 36% | -17% | 4.5 | 31% |
| North America | 0.13 | 24% | 0% | 1.3 | -21% |
| Row | 0.30 | 85% | -2% | 2.6 | 93% |
| Global | 2.09 | 8% | -3% | 17.5 | 5% |
Benchmark figures include both BEVs and plug-in hybrids (PHEVs) in the passenger car and light vehicle markets.
Europe’s growth continues to grow
Europe sold 510,000 electric vehicles in October, a year-on-year increase of 36%. Fully electric cars did most of the work: BEV sales increased by 49%, while plug-in hybrids grew by 7%.
That puts October’s growth ahead of Europe’s 31% increase so far this year. The region will have sold 4.5 million electric vehicles by 2026.
Sales fell 17% from September’s record, but September received a boost thanks to the twice-annual registration change in the UK. The year-over-year figures give a clearer view of how quickly the market is growing.
The share of electric vehicles in Germany surpassed 45% of new car sales, its highest level since December 2022. That previous peak came as buyers rushed to purchase cars before subsidy cuts took effect. Sales of fully electric cars in Germany increased almost 80% compared to the previous year, to more than 95,000.
Electric vehicle sales in the UK increased by 30%. This is particularly notable because the electric car subsidy was already available in October 2025, although fewer models qualified at that time. So this growth goes against a market that was already receiving support from the government.
And in Portugal, electric vehicles accounted for 55% of new car sales in October, following a sharp increase in their market share in recent months.
North American recovery needs context
Electric vehicle sales in North America rose 24% year-over-year to 130,000 in October, the region’s first annual increase in 2026. Sales have remained stable since September, while the year-to-date decline narrowed to 21%, from 24% the previous month. The region has sold 1.3 million electric vehicles so far this year.
Sales of electric vehicles in the United States reached around 110,000 units in October.
But here’s the kicker: October 2025 was the first month after the federal EV tax credit expired. The credit ended for vehicles purchased after September 30, 2025, and sales fell sharply afterward.
Therefore, October 2026 is compared with a month in which sales plummeted. A positive annual figure does not mean that US demand has returned to its pre-expiry level.
“October is the first month compared to a period without a US federal tax credit, and the US market has stabilized at a lower level rather than recovering,” said Charles Lester, chief data officer at Benchmark.
The flat month-over-month figure helps tell that story: Sales have stabilized, but the market is operating from a lower base.
China’s EV share rises even as sales fall
China sold 1.14 million electric vehicles in October, up 5% from September but down 12% year over year. That annual drop was smaller than September’s 18% drop.
Sales through October reached 9.1 million, down 11%, compared to a 13% year-to-date drop at the end of September.
Even with fewer electric vehicles sold, its share of China’s new car market reached a new high. This is because the overall passenger car market is shrinking more rapidly.
Chinese automakers continue to produce vehicles and look for overseas buyers. Passenger vehicle exports of new energy vehicles (Chinese category encompassing BEVs and PHEVs) reached nearly 600,000 in October. This is another monthly record, compared to 558,000 in September.
Those exports face more pressure in the future. The EU agreed to limit imports of hybrids made in China, and China will reduce its export VAT refund on electric vehicles from 13% to 9% from April 1, 2027.
Other markets are growing rapidly, with some caveats
Outside of China, Europe and North America, electric vehicle sales rose 85% year-over-year to 300,000 in October. Those markets have purchased 2.6 million electric vehicles so far in 2026, an increase of 93%.
Australian sales rose more than 200% in October and electric vehicles have significantly gained market share this year. But that hasn’t translated into healthy profits for distributors, according to Benchmark. More brands, many of them Chinese, are competing for buyers, spreading sales among more companies and reducing dealer margins.
Brazil’s growth has also been huge, although Benchmark warns that some of its drivers are temporary. Importers brought in vehicles ahead of gradual tariff increases, a fuel crisis pushed more buyers toward electric vehicles and BYD increased production at its Brazilian factory.
As the rate increases take full effect and pressure on fuel prices eases, Benchmark expects those increases to fade. BYD’s local production, which will also supply Argentina and Mexico, will become the main remaining support for that growth.
Read more: European EV sales soar while North America drops 44%: here’s the kicker
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