Charles Lester

Starting 1 January 2027, China will remove the annual “Vehicle and Vessel” tax exemption that has applied since 2012 to: plug-in hybrid electric vehicles (PHEVs), including range-extended EVs (REEVs); commercial battery electric vehicles (BEV); and fuel-cell commercial vehicles.  China's Ministry of Finance, the State Taxation Administration, and the Ministry of Industry and Information Technology (MIIT) jointly issued the policy on 3 July 2026.  BEV and fuel-cell passenger cars remain fully exempt from the tax as those taxes are based on engine displacement and these vehicles have none, therefore, they fall outside its scope entirely. 

Benchmark Mineral Intelligence, specialising in EV and battery supply chain research and insights, reports that 1.8 million electric vehicles were sold globally in May 2026, bringing YTD 2026 EV sales to 7.5 million. In May 2026, EV sales increased by 3% year-on-year (y-o-y) and by 7% month-on-month (m-o-m).

Benchmark Mineral Intelligence, specialising in EV and battery supply chain research and insights, reports that 1.60 million electric vehicles were sold globally in April 2026, bringing YTD 2026 EV sales to 5.6 million. In April 2026, EV sales grew 6% year-on-year (y-o-y) and decreased by 9% month-on-month (m-o-m).

Benchmark Mineral Intelligence, specialising in EV and battery supply chain research and insights, reports that 1.75 million electric vehicles were sold globally in March 2026, bringing Q1 2026 EV sales to 4.0 million – down 3% year-on-year. In March 2026, EV sales grew 66% month-on-month and up by 3% year-on-year.

The weakening of fiscal support provided by China to buyers of electric vehicles led to the lowest monthly sales figures of passenger car & light duty (PC & LDV) EVs since February 2024. Sales in China are down 26% in the first two months of 2026 compared to the same period in 2025, with retail sales of PC & LDV EVs in the country falling under 500,000 units in February.

Benchmark Mineral Intelligence, specialising in EV and battery supply chain research and insights, reports that 1.1 million electric vehicles were sold globally in February 2026. The global EV market was down 11% compared to February 2025, and also down 11% compared to January 2026.

As global EV demand continues to accelerate, battery supply remains highly concentrated and regionally uneven.

Benchmark Mineral Intelligence, specialising in EV and battery supply chain research and insights, reports that 1.2 million electric vehicles were sold globally in January 2026.

The German government has confirmed its most recent electric vehicle (EV) subsidies, setting out a new socially targeted programme that will support the purchase and leasing of EVs from the start of 2026. The programme aims to make EVs affordable for a broader range of households, stabilise the domestic market, and strengthen Germany’s position in ...

Benchmark Mineral Intelligence, specialising in EV and battery supply chain research and insights, reports that 2.1 million electric vehicles were sold globally in December 2025, bringing the end of year figure to 20.7 million EV units sold in the passenger car and light-duty vehicle segment. Snapshot electric vehicle sales in 2025 vs 2024: Benchmark Mineral […]

Benchmark Mineral Intelligence, specialising in EV and battery supply chain research and insights, reports that 2.0 million electric vehicles were sold globally in November 2025. Rho Motion Data Manager, Charles Lester, commented: “Global EV sales reached 2.0 million units in November 2025, bringing cumulative sales to 18.5 million year-to-date, up 21% on 2024. Europe led […]