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Electric car sales surge amid Middle East conflict
Electric vehicle sales experienced a significant rise in the second quarter of 2026, increasing by 35% compared to the first quarter and setting record numbers across 50 countries. This surge is attributed to the sharp rise in fuel prices following the war in the Middle East, which pushed oil prices from around $60 to nearly $120 per barrel. This revival is partly due to efforts by various countries to enhance energy security and reduce dependence on imported oil, with some nations implementing tax exemptions to encourage the purchase of electric vehicles. The International Energy Agency (IEA) expects electric cars to make up 29% of global vehicle sales this year, growing by 10%, despite an overall slowdown in the car market due to the removal of subsidies in the United States and an economic slowdown in China, with Europe seeing the largest increase of over 30%.
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