- Global NEV sales fell 2% in Q1 2026 to about 3.94 million units, roughly 19% of the market.
- Chinese brands claimed six of the top 10 BEV spots and 56.1% of the global PHEV market.
- Price pressure and rising chip and raw-material costs are squeezing margins even as NEV sales are forecast to grow 14% in 2026.
TrendForce data showed global new energy vehicle (NEV) sales totaled around 3.94 million units in the first quarter of 2026, down 2% year-on-year and accounting for roughly 19% of the global auto market.
In the battery electric vehicle (BEV) segment, Chinese brands continued to dominate global rankings. Six of the world’s top 10 BEV brands by Q1 sales came from China.
Tesla regained the global BEV sales lead during the quarter, overtaking BYD. However, BYD, Geely and SAIC-GM-Wuling remained among the market’s top players.
Leapmotor emerged as one of the fastest-growing brands in the rankings, climbing to fifth place on the back of overseas expansion and aggressive pricing strategies. Xiaomi and GAC Aion ranked seventh and tenth, respectively.
In the global plug-in hybrid electric vehicle (PHEV) market, Chinese automakers occupied seven of the top 10 positions in Q1, with a combined market share of 56.1%.
BYD ranked first with a 27.3% share, significantly ahead of Geely, which held 8.1%.
Brands including Aito, Fang Cheng Bao, Lynk & Co, Chery and Changan also entered the global top 10.
By comparison, traditional European automakers such as BMW, Mercedes-Benz and Volvo each accounted for less than 4% of the global PHEV market.
The report noted that intensifying domestic competition has pushed Chinese automakers to accelerate overseas expansion while broadening their powertrain strategies beyond pure EVs into multiple hybrid technologies.
TrendForce also said pricing pressure in the auto industry has become more severe in 2026 than in 2025, driven increasingly by structural rises in raw material costs.
Amid the industry’s push toward smarter vehicles, automotive memory chips have emerged as a new cost pressure point.
Despite the slowdown in Q1, TrendForce forecasts global NEV sales could still reach 23.35 million units in 2026, up 14% year-on-year, maintaining stronger growth resilience than internal combustion engine vehicles.
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