Overview
- Global plug-in sales surpassed about 20.7 million in 2025, equal to roughly one-quarter of new-car sales, and the IEA expects sales to rise toward 23 million in 2026.
- China accounted for the largest share of that growth, selling more than half of global plug-ins in 2025 and recording a record 2.5 million EV exports for the year.
- Customs data compiled by Bloomberg showed Chinese EV exports jumped about 40% month-on-month in April, a surge concentrated in Asia, Europe and Latin America that is widening global supply flows.
- Europe’s market expanded as electrified models drove registration gains in April and Chinese brands such as BYD and Chery posted double- and triple‑digit increases, pressuring prices and legacy automakers’ fleet strategies.
- U.S. plug-in sales cooled in 2025 after federal tax-credit changes removed a key incentive, while emerging markets saw an about 80% increase in plug-in adoption fueled by low-cost Chinese models and local incentives.