Fuel Price Shock Pushes Global Gas Car Sales Below 50% for First Time

Data compiled by Mobility Global and cited by Nikkei Asia show that gasoline-only passenger cars accounted for 49% of global vehicle sales in the first half of 2026, marking the first time that share has fallen below half. Between January and June, sales of non-hybrid gasoline vehicles dropped 10% year-on-year to 20.25 million units, eroding their overall share by three percentage points. The decline follows a surge in fuel prices after the Strait of Hormuz supply disruption and the resulting jump in crude oil and pump prices. Industry groups and energy agencies including the IEA reported that rising gasoline and diesel costs pushed many buyers in Europe, South America and the Asia-Pacific region to choose battery-electric and hybrid models instead of traditionally powered cars. European market data illustrate the change: ACEA reported BEV sales in August rose 52.2% year-on-year, while Germany — the region’s largest market — saw BEV deliveries climb 75% in August as pump prices reached a record €2.31 per liter. German analysis by DIW showed one in four passenger cars sold from January through August was a pure battery-electric vehicle, with BEV share in August equal to one in three sold that month. The International Energy Agency said EV sales rebounded strongly in the second quarter after the Middle East crisis, up 35% versus the first quarter, and reached record levels in 50 countries. The IEA also noted that markets such as Brazil, India, Australia and Vietnam saw roughly a doubling of electric car sales between March and June compared with the same period in 2025, and about 90 countries recorded annual EV sales growth in the first half of the year. Analysts at Wood Mackenzie said the accelerated adoption could push global EV penetration above earlier expectations, but they and other commentators flagged remaining obstacles: significant investment will be required in battery minerals supply chains and charging infrastructure to sustain faster electrification. The longer the fuel-market disruption persists, they argue, the stronger the economic case for EVs becomes.