Global EV Tracker: Europe Leads BEV Growth as China Turns a Corner and US Hybrids Gain

Research evidence excerpt

Global EV Tracker: Europe Leads BEV Growth as China Turns a Corner and US Hybrids Gain

Update

July 6, 2026 08:20 PM GMT

Morgan Stanley & Co. LLCMAutos & Shared Mobility | North America Andrew S Percoco

Equity Analyst

Global EV Tracker: Europe Andrew.Percoco@morganstanley.comDaniela M Haigian +1 212 296-4322

Daniela.Haigian@morganstanley.com +1 212 761-6071

Leads BEV Growth as China Morgan Stanley Europe S.E., Madrid Branch+

Javier Martinez de Olcoz Cerdan

Equity AnalystTurns a Corner and US Hybrids Javier.Martinez.Olcoz@morganstanley.com +34 9141-81289

Morgan Stanley & Co. International plc+Gain Shaqeal A Kirunda

Global EV sales in May grew 15% y/y to 1.3mn. Tesla global share Shaqeal.Kirunda@morganstanley.com +44 20 7425-0736

rebounds to 11% (vs 8% LM). Europe continues to drive BEV Morgan Stanley Asia Limited+

Tim Hsiao

sales growth (+34% y/y), and China inflects positive for the first Equity Analyst

time in 2026 (+4% y/y). US hybrid penetration increases to 22% Tim.Hsiao@morganstanley.com +852 2848-1982

(vs. 21% LM) amidst elevated fuel costs. Morgan Stanley & Co. International plc, Seoul Branch+

Young Suk Shin

Key BEV highlights for the month of May 2026: Equity Analyst

Young.Shin@morganstanley.com +82 2 399-4994

1. Global BEV sales (exc. hybrids and plug ins): 1,298,203, up 15% y/y, and Morgan Stanley MUFG Securities Co., Ltd.+

up 5% vs. last month's 1,235,929 BEV sales. Shinji Kakiuchi

2. Top BEV OEMs Globally: 1) BYD at 160.9k sales, 2) Tesla at 144.5k, 3) Shinji.Kakiuchi@morganstanleymufg.com +81 3 6836-5416

Geely at 87.7k sales. Hiroto Segawa

3. Top Global BEV Models: 1) Tesla Model Y at 93.5k and 2) Unspec LCV Equity Analyst

Hiroto.Segawa@morganstanleymufg.com +81 3 6836-8403

at 53.0k, 3) Tesla Model 3 at 47.1k. We note LCV Unspec BEV refers to