Global Gas Car Sales Fall Below 50% for First Time on Hormuz Fuel Shock

The share of gasoline-powered vehicles in global car sales dropped below 50% for the first time on record, as the Strait of Hormuz crisis and resulting record fuel prices accelerated EV adoption outside China, according to Mobility Global data cited by Nikkei Asia. Gasoline vehicle sales excluding hybrids fell 10% year-over-year to 20.25 million units in January-June 2026, cutting their share of global sales by 3 percentage points to 49%. Battery electric vehicle sales in Europe, including the UK, Switzerland and Norway, surged 52.2% in August from a year earlier, ACEA data showed. Germany's BEV sales jumped 75% in August, when gasoline hit a record 2.31 euros per liter ($10 per gallon), while France's EV sales more than doubled. The IEA reported global EV sales rose 35% in the second quarter from the first, reaching records in 50 countries. Analysts at Wood Mackenzie expect the trend to persist, though battery mineral supply and charging network investment remain constraints.