Data released by Benchmark Mineral Intelligence (BMI) on Friday indicates that global registrations for pure electric and plug-in hybrid vehicles fell by 11% in February.

According to BMI, China, the world's largest electric vehicle market, saw registrations for pure electric and plug-in hybrid vehicles drop by 32% year-on-year in February, declining to fewer than 500,000 units.

Globally, registrations for pure electric and plug-in hybrid vehicles declined for the second consecutive month in February, reaching just over 1 million units, the lowest level recorded for the same period since 2024.

The North American market contracted by 35%, with sales falling below 90,000 units. This marks the fifth consecutive month of decline for the North American electric vehicle market, following the expiration of U.S. electric vehicle tax credits last September and the Trump administration's proposal to further reduce carbon dioxide emission standards.

The policies under the Trump administration, combined with a global cooling in electric vehicle demand, have forced several automakers with significant exposure to the U.S. market to record impairment charges exceeding $70 billion.

Europe has also stepped back from emission reduction targets. However, despite a slower growth rate compared to the same period last year, electric vehicle sales in Europe still increased by 21% in February, maintaining an upward trend.

In the rest of the world, electric vehicle registrations rose by 78% in February, totaling more than 180,000 units.