Global electric car sales grow despite weakening broader auto market

Global electric vehicle sales continue to climb and capture a larger market share, even as overall car sales experience a decline during the first half of the year.

The International Energy Agency reported on Thursday that electric car sales rebounded in the second quarter of 2026, rising 4% compared to the previous year.

This increase occurred as overall global car sales fell by roughly 5% over the first six months of the year due to drops in China and the US.

Electric vehicles accounted for 24% of all car sales worldwide during the first half of 2026.

The agency projected global electric car sales to grow by 10% this year to reach 29% of total car sales worldwide.

Chinese car exports surged 65% year-on-year in the first half of the year, shielding local manufacturers from falling domestic demand.

Electric car shipments from China jumped by over 120% during this period and fully offset the domestic sales slump.

Chinese manufacturers benefited from integrated supply chains and battery capabilities that significantly reduced their production costs.

These advantages allowed Chinese companies to produce battery electric cars about 35% cheaper than their rivals in advanced economies.