A landmark shift in the automotive industry has been confirmed today as data shows electric vehicle sales surpassed those of internal combustion engine vehicles in 15 major markets during the first quarter of 2026.
The Numbers
EVs accounted for 52% of new car sales in Europe, 48% in China, and 38% in North America. This represents a dramatic increase from just five years ago when EVs held less than 10% market share in most regions.
Driving Factors
Several factors have contributed to this milestone, including lower battery costs, expanded charging infrastructure, and stricter emissions regulations. The average price of an EV has dropped to within 5% of comparable combustion engine vehicles.
Industry Response
Major automakers have accelerated their EV transition plans, with several announcing that they will cease production of combustion engine vehicles by 2030. The used car market is also seeing significant changes as more EVs become available at accessible price points.
