EV Demand Climbs Amidst High Gas Prices

Global demand for electric vehicles (EVs) continued to climb in April, marking the second consecutive month of growth. This trend is largely attributed to sustained high petrol prices that are encouraging consumers to switch from traditional combustion-engine cars.

In Europe, EV registrations saw a robust increase of 27% in April, reaching approximately 400,000 units. This growth is further supported by substantial commitments from countries within the European Economic Area and Switzerland, totaling nearly 200 billion euros for their EV ecosystems.

Conversely, the global picture presented uneven growth. While China's domestic EV registrations fell by 8% compared to the previous year, its manufacturers significantly expanded their international presence. Chinese EV exports alone surpassed 400,000 units in April.

North America experienced a notable decline of 28% in EV registrations, impacted by the cessation of a U.S. tax credit scheme and proposed changes to emissions rules. Mexico, however, showed a positive trend with nearly 50% sales growth this year, and Canada anticipates a reversal of its recent decline with a new incentive program.

Despite existing European Union tariffs, Chinese brands are successfully increasing their market share in Europe, with 22% of EVs and plug-in hybrids sold in the first four months of 2026 being manufactured in China.