Global EV Sales Growth Slows to 0.9% as U.S. Demand Falls 25% and China Contracts 15%
Updated
Updated · MINING.com · Jul 5
Global EV Sales Growth Slows to 0.9% as U.S. Demand Falls 25% and China Contracts 15%
1 articles · Updated · MINING.com · Jul 5
Summary
Global EV sales rose just 0.9% in January-May 2026, a sharp slowdown after 20% growth in 2025, according to Benchmark Mineral Intelligence.
A 25% drop in North America after the U.S. removed tax credits in September and a 15% contraction in China drove the slowdown in the two biggest markets.
Europe partly offset that weakness with 26% growth, while the rest of the world expanded 89% as Chinese EV exports accelerated, especially across Asia.
Battery demand has held up better than vehicle sales because buyers are shifting to larger EVs with bigger batteries, while grid storage is emerging as a second major source of lithium demand.
That uneven demand outlook matters for battery metals, whose recent price recovery has been driven more by supply restraint than consumption, raising the risk that higher prices could curb future battery demand.