"Growth in global sales of electric vehicles is expected to slow this year as China winds down some subsidies, Europe wavers on its phase-out of combustion engines, and U.S. producers and policymakers make a U-turn from the segment. BloombergNEF expects drivers to buy 24.3 million passenger EVs this year, an increase of only 12% on 2025 and weaker than the 23% growth in sales last year."
"In the U.S. in particular, electric vehicle makers are facing an EV winter, and will need to navigate bumpy months ahead before a likely revival in sales in 2027 and 2028, said Nathan Niese, Boston Consulting Group's global lead for EVs and energy storage. Though the long-term trajectory for battery-powered vehicles remains positive, there isn't a 2026 story buried in there that says there's lots to be optimistic about, he said."
"Ford Motor Co.'s decision in December to take $19.5 billion in charges related to a sweeping overhaul of its EV business including the move to convert its flagship electric F-150 Lightning truck to an extended-range hybrid vehicle highlighted the fragility of the sector's short-term prospects, and capped a series of strategy rollbacks from major producers outside China."
Global passenger EV sales are projected at 24.3 million in 2026, a 12% increase over 2025 and slower than last year's 23% growth. U.S. demand is weakening after the removal of up to $7,500 in consumer tax credits after September and the rollback of fuel-economy standards. U.S. monthly sales plunged 41% in November year-on-year and annual passenger EV sales are forecast to contract 15% in 2026. Manufacturers have scaled back ambitious EV strategies, including major charges and conversions of electric models to hybrids. China is halving its EV tax break for 2026 and tightening cash-for-clunkers eligibility, slowing growth. Europe’s wavering phase-out plans add further near-term fragility despite a positive long-term outlook for battery vehicles.
Read at www.bloomberg.com
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