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Electrified Vehicle (xEV) Sales Monthly Report (February 2026)

Slowdown in BEV and PHEV sales in Chinese market, creating a mix of recovery hopes and uncertainty

2026/03/27

Global electrified vehicle sales and composition by powertrain (BEV/PHEV/HEV)
Trends in sales volume and share of electrified vehicles (xEVs) in major countries and new car sales trends by country
Trend in sales volume of electrified vehicles (xEVs) of major OEMs
About this Report

Global electrified vehicle sales and composition by powertrain (BEV/PHEV/HEV)

Sales of electrified vehicles (xEVs) in February in 12 major countries and three Nordic countries (15 countries in total) reached 1.207 million units. Year-over-year (y/y), the number of units sold decreased by 17.3%, while sales decreased by 10.9% compared to the previous month (m/m). The share of xEVs was 29.6%, down 0.8 points from 30.4% the previous month. Cumulative sales of xEVs in the two-month January to February period decreased 13.4% y/y to 2.562 million units, accounting for 30.0% of total vehicle sales volume for the period.

Looking at the breakdown by powertrain, BEV sales in February totaled 548,000 units (13.4% share), PHEVs 268,000 units (6.6% share), and HEVs 391,000 units (9.6% share). For the January-February period, the cumulative sales figures were 1.165 million units (13.7% share), 612,000 units (7.2% share), and 785,000 units (9.2%share), respectively.

BEV and PHEV sales volumes have been greatly affected by the continued slump in new car sales in China since the beginning of the year. While sales in the Chinese market recovered in March, and xEV sales are showing a strong upward trend, this year's decline is larger than usual due to changes in New Energy Vehicle (NEV) sales promotion policies and the Chinese New Year holiday, so it is necessary to carefully monitor future trends. Conversely, HEV sales have increased in Japan and the United States, showing a relatively stable trend.

Trends in sales volume and market share of electrified vehicles (xEVs)
(total of 12 major countries and 3 Nordic countries)

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