Electric cars achieve record sales in 50 nations
The first half of 2026 witnessed a notable rise in electric vehicle sales, increasing by 35% in the second quarter compared to the first three months. This surge set new records in 50 countries, despite the global automotive market contracting by approximately 5%. This growth is attributed to rising fuel prices resulting from oil supply disruptions and the war in the Middle East, with Brent crude oil prices soaring to around $120 per barrel. As a result, running costs for gasoline and diesel cars became more volatile, reigniting consumer interest in electric vehicles, which accounted for about 24% of overall global car sales in the first half of the year. The International Energy Agency projects this share to rise to 29% throughout the year, supported by ongoing government subsidies and growth in emerging markets. Despite a decline in demand in China and the United States, China's electric vehicle exports increased by 65%, with its export share surpassing 45%. These trends indicate a shift towards new markets, reducing dependence on oil and boosting global energy security.
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