Fuel price rise reduces gasoline car sales
For the first time, the share of gasoline-powered cars in total global vehicle sales has fallen below 50%, due to rising fuel prices and consumers' increasing shift toward electric vehicles. Data shows that gasoline car sales declined by 10% between January and June 2026, with their market share dropping to 49%. Meanwhile, electric vehicle sales experienced significant surges, especially in Europe, where they increased by 52.2% in August and made up 22% of the car market in the European Union from January to August. This reflects an accelerated transition toward electric vehicles outside China, driven by rising fuel prices and geopolitical conflicts that have impacted the prices of oil and diesel.
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