- Chinese automakers sharply ramped exports after domestic demand softened, using overseas volumes to absorb production and chase market share amid price and regulatory pressures abroad.
- Global EV sales hit 2.09 million units in October, up 8% year-on-year, with China selling about 1.14 million EVs and China exporting roughly 600,000 new energy passenger vehicles in October.
- Exports target European, North American and other markets where Chinese brands compete with legacy automakers, but execution risks include sustaining volumes, local regulation, and margin pressure from heavy discounting.
Global electric vehicle (EV) demand returned to growth in October 2026, driven primarily by strong overseas sales of China-made electric vehicles, according to data from Benchmark Mineral Intelligence cited by CLS.
Global sales of new battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) reached 2.09 million units in October, up 8% year on year but down 2.8% from September.
Global EV sales totaled 17.5 million units in the first 10 months of 2026, up 5% from the same period last year.
By region, China remained the world’s largest single EV market, accounting for 54.5% of global EV sales during the month.
China sold approximately 1.14 million EVs in October, down 12% year on year. The decline narrowed from 18% in September, while sales rose 5% month on month.
For the first 10 months of the year, China’s cumulative EV sales reached approximately 9.1 million units, down 11% year on year.
With domestic demand under pressure, exports have become an increasingly important channel for Chinese automakers to absorb production capacity and expand sales.
In October, China’s exports of new energy passenger vehicles approached 600,000 units, up 144.7% year on year and exceeding the 558,000 units recorded in September to set a new monthly high.
Charles Lester, data manager at Benchmark Mineral Intelligence, said the decline in China’s domestic sales had prompted automakers to step up exports, providing a substantial boost to markets elsewhere in the world.
Europe was one of the main sources of global EV market growth in October.
Regional EV sales reached 510,000 units, up 36% year on year. BEV sales in particular rose 49% from a year earlier.
Subsidy programs, higher fuel prices, EU emissions regulations and the continued launch of new models all contributed to the recovery in regional demand.
Germany was a particularly strong market, with EVs accounting for more than 45% of new vehicle sales, the highest share since December 2022. BEV sales exceeded 95,000 units, up nearly 80% year on year.
EV sales in the UK increased 30% year on year, while electrified vehicles accounted for 55% of new vehicle sales in Portugal in October, indicating faster adoption across several European markets.
In North America, EV sales reached 130,000 units in October, up 24% year on year and returning to positive annual growth for the first time in 2026. The United States accounted for approximately 110,000 units.
Outside China, Europe and North America, EV sales across other global markets surged 85% year on year to 300,000 units, exceeding the North American total.
Growth was driven primarily by exports from Chinese automakers.
In Australia, EV sales more than tripled in October, while China-made vehicles accounted for 38.8% of the local market.
Brazil also maintained relatively rapid growth, with the start of production at BYD’s local plant providing additional support for the company’s expansion in the country’s EV market.
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