Global sales of electric vehicles returned to growth in October, supported by a favourable comparison with the previous year’s US market and sustained demand across Europe, according to data released on Thursday by UK-based research firm Benchmark Mineral Intelligence.
Charles Lester, data manager at Benchmark, told Reuters that although China’s domestic market remained subdued, manufacturers were increasingly focusing on overseas markets, with exports making a significant contribution to global sales growth.
Worldwide sales of new battery-electric vehicles and plug-in hybrid electric vehicles increased 8% year-on-year to 2.09 million units in October. Cumulative sales for the first 10 months of 2026 rose 5% to 17.5 million vehicles.
China recorded a 12% annual decline in electric vehicle sales, although the contraction narrowed as manufacturers continued to expand exports. Passenger new energy vehicle exports from China approached 600,000 units, setting another monthly record, Lester said.
Europe remained a major growth market, with electric vehicle sales climbing 36%. The increase was supported by government subsidies, higher fuel prices, stricter European Union emissions regulations and an expanding range of vehicle models.
In the United States, October marked the first month in which sales were compared against a period without federal tax credits for electric vehicle purchases. This created a lower comparison base for the latest figures.
North American electric vehicle sales returned to growth, increasing 24%. However, Lester noted that the US market appeared to have stabilised at a lower level rather than experiencing a meaningful recovery.
Meanwhile, sales across other global markets surged 85%, exceeding North America’s total. The increase was largely driven by rising exports of Chinese electric vehicles, according to Lester.
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