Deutsche Bank: Top 15 Countries' NEV Sales Volume Tracker - March 2026
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Deutsche Bank's latest monthly tracker reveals that combined new energy vehicle (NEV) sales across the top 15 global markets (G15) reached 1,768,970 units in March 2026. This represents an 8.0% year-over-year increase and a substantial 62.8% month-over-month surge, driven by seasonal factors. For the first quarter of 2026, cumulative NEV sales stood at 4,107,085 units, up 2.3% year-over-year, with the average penetration rate reaching 24.3%.
Growth dynamics remain highly divergent across regions. China maintained its volume lead with 1,161,247 units sold, though year-over-year growth moderated to just 1.6%. Conversely, the United States experienced a sharp 35.5% sales decline to 100,691 units. Emerging markets showcased exceptional strength, with Brazil and Korea posting explosive year-over-year growth of 159.2% and 115.5%, respectively. Norway achieved the highest penetration rate at 85.8%, while Japan remained the lowest at 3.7%.
By powertrain, pure electric vehicles (EVs) continue to dominate, growing 12.7% to 1,206,057 units, whereas plug-in hybrids (PHEVs) declined 1.1% to 561,738 units. Among original equipment manufacturers, BYD led with 341,976 units despite a 13.2% drop, while Tesla rebounded strongly with a 22.1% increase to 184,854 units. Nio also demonstrated robust momentum, surging 135.0% year-over-year.
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