European EV Sales Reach Record 1.64 Million in 2026 as Affordable Models Surge 45%

BERLIN, Oct 5 (Reuters) — European electric vehicle sales hit a record 1.64 million units in the January-to-August 2026 period, up 45% year-on-year, according to a Transport & Environment report published Monday. EVs captured 22% of the EU market, six percentage points higher than the same period in 2025. T&E called 2026 "a pivotal year for EV availability," noting model choice expanded 50% in a single year as carmakers broadened line-ups to meet EU emissions targets. European automakers accounted for nearly 60% of available EV models, adding 16 in the first half of 2026. Chinese manufacturers held 21%, adding 11 models. Volkswagen's rollout of affordable EVs, including the all-electric Polo, is helping the German group close its compliance gap and avoid fines. The report also cited rising fuel prices linked to the Middle East conflict. Diesel has climbed 38% since the Iran war began, adding €30 ($34) to the cost of a 50-litre fill.