Global, U.S. EV sales show a tale of two markets

illuminem summarises for you the essential news of the day, reviewed by our editorial team. Read the full piece on Axios or enjoy below:

🗞️ Driving the news: Global electric vehicle (EV) sales are projected to reach 23 million units in 2026, or roughly 28% of all vehicle sales, despite a sharp decline in the U.S. following the removal of federal tax credits
• Growth in Asia-Pacific (excluding China) and Latin America is expected to surge over 45–50%, reflecting regional market expansion and responses to high oil prices from the Iran conflict

🔭 The context: U.S. consumer EV spending fell 23% year-over-year in Q1 2026, following the lapse of incentives in the 2025 budget, while new EV sales accounted for just 5.6% of U.S. new-car purchases in April
• Meanwhile, global markets continue to benefit from policy support, subsidies, and rising fuel costs driving interest in electrification

🌍 Why it matters for the planet: EV adoption reduces oil dependence and lowers greenhouse gas emissions
• Accelerated uptake in international markets could offset U.S. declines, contributing to decarbonization goals amid energy market volatility

⏭️ What’s next: Policymakers may enact structural measures to stabilize domestic EV sales and encourage global adoption
• The International Energy Agency notes global totals could surpass 23 million depending on interventions during the ongoing energy crisis

💬 One quote: “Policymakers may seek structural opportunities to boost energy security and shield consumers from this crisis or others in the future.” – Timur Gül, IEA Chief Technology Officer

📈 One stat: U.S. EV sales down 23% year-over-year in April 2026; EVs now 5.6% of U.S. new-car sales

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