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IEA Projects Electric Vehicle Sales to Reach 23 Million Globally in 2026
The International Energy Agency reported that electric vehicle sales are projected to reach 23 million units worldwide this year. The forecast follows a 20 percent increase in global EV sales last year and comes amid higher fuel prices.
May 20, 11:30 AM·1m read1 source
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The International Energy Agency said electric vehicle sales are projected to reach 23 million units worldwide in 2026, accounting for nearly 30 percent of all new cars sold. The agency released its annual Global EV Outlook 2026 report on Wednesday. It stated that last year global EV sales grew 20 percent and represented one-quarter of all new cars sold.
Europe, EV sales rose nearly 30 percent year-on-year.
Sales in the Asia Pacific region also showed strong growth, the IEA said. Global EV sales fell 8 percent in the first quarter of 2026 compared with the same period a year earlier. The agency attributed the decline to reduced or phased-out incentives in China and the United States.
The IEA linked the projected increase in EV sales to higher fuel prices following the Iran war. It said the price increases have encouraged more drivers to switch to electric vehicles and hybrids. The report noted that the first-quarter decline masked stronger sales growth in many other countries and regions.
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