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Electrified Vehicle (xEV) Sales Monthly Report (May 2026)
High fuel prices are driving steady growth in BEVs and HEVs
2026/06/29
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Global electrified vehicle sales and composition by powertrain (BEV/PHEV/HEV)
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Trends in sales volume and share of electrified vehicles (xEVs) in major countries and new car sales trends by country
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Trend in sales volume of electrified vehicles (xEVs) of major OEMs
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About this Report
Global electrified vehicle sales and composition by powertrain (BEV/PHEV/HEV)
In May, electrified vehicle (xEV) sales in 12 major countries and 3 Nordic countries (15 countries in total) increased by 4.9% year-over-year (y/y) and 11.0% month-over-month (m/m) to 1.998 million units, accounting for 39.1% of total automobile sales.
The xEV sales volume in China has recovered to over 1 million units, and the market share has reached a record high of 72.0%. While overall domestic sales in China, including ICE-powered vehicles, are sluggish due to changes in NEV (New Energy Vehicle: BEV, PHEV, FCEV) policy and market structure, new BEV models are driving increased sales of xEVs, in part due to rising fuel prices. Furthermore, exports from China continue to increase, and BEVs from Chinese manufacturers are gaining prominence in various European countries. In Thailand's BEV market, competition among Chinese manufacturers is evident, and there is a growing trend towards establishing local manufacturing sites and export hubs.
Across all 15 countries, BEV sales increased by 9.7% y/y (13.5% m/m) to 1.03 million units, representing a market share of 20.2%. In addition to the recovery in BEV sales within the large Chinese domestic market, BEV sales are also on the rise in Europe and Brazil due to the expansion of sales outside China by Chinese OEMs. HEV sales increased by 18.6% y/y and 7.3% m/m to 532,000 units, representing a market share of 10.4%. Due to soaring fuel prices, Japanese HEV models are leading sales in the United States. The impact of high fuel prices extends to various countries around the world, and sales of HEVs are steadily increasing in markets other than the U.S. Conversely, PHEV sales were down 15.6% y/y to 436,000 units. Compared to the previous month, PHEV sales increased by 10.0%, indicating a recovery trend, and its market share reached 8.5%.
Cumulative sales of xEVs in the five-month January to May period decreased 3.2% y/y to 8.456 million units, accounting for 34.6% of total vehicle sales volume for the period. The breakdown is as follows: BEVs accounted for 4.091 million units (16.7% share), PHEVs for 1.867 million units (7.6% share), and HEVs for 2.497 million units (10.2% share).
May's xEV sales figures demonstrate the need for manufacturers to diversify their powertrain strategies (multi-pathway approach). The blockade of the Strait of Hormuz due to the U.S.-Iran conflict has caused fuel prices to soar, which is one of the reasons for the increase in electrified vehicle (xEV) sales in various countries. While demand for BEVs is expanding further in China and Europe, where EV adoption policies are being promoted, in the United States, where EV incentives have disappeared, HEV technology, which can reduce fuel consumption and vehicle costs, is being re-evaluated and is a factor in ensuring stable sales.
Trends in sales volume and market share of electrified vehicles (xEVs)
(total of 12 major countries and 3 Nordic countries)
Click on the legend buttons to display only the relevant data.
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