IEA: Global EV sales jump 35% in Q2 and 50 countries set records

Electric vehicle sales worldwide jumped 35% in the second quarter of 2026, with 50 countries setting new quarterly records, according to a new report from the International Energy Agency. That's a sharp turnaround from a weak start to the year, and it stands out against the broader car market, which fell about 5% globally in the first half of 2026 due to economic pressure and higher fuel prices. More than 90 countries saw EV sales grow compared to last year, with Australia, Brazil, India, Korea, and Vietnam roughly doubling their EV sales from the same period in 2025. The IEA now expects EVs to make up 29% of all cars sold globally this year.

The picture is mixed in the two biggest markets. In China, EV sales are expected to stay flat this year for the first time this decade, though EVs still make up more than 60% of new car sales there. In the US, the picture is worse: the federal tax credit for EVs ended in September 2025, and fuel-economy rules were weakened, and demand has dropped since.

None of this changes anything directly for a homeowner deciding on an EV purchase in the US, since the federal tax credit that used to lower the price is gone. But rising global supply, including a surplus of over a million Chinese-made EVs looking for buyers, could eventually push prices down further in markets where they're sold. Volatile gas prices tied to the Middle East conflict are also nudging more buyers, in other countries, toward electric.