Gasoline Car Market Share Drops Below 50% Amid Global Fuel Crisis

Between January and June, sales of pure gasoline-powered vehicles plummeted by 10% compared to the previous year, totaling 20.25 million units. Data from Mobility Global confirms that internal combustion engines now account for 49% of global automotive sales, marking a 3-percentage-point decline. This shift, long expected but historically sluggish outside of China, has accelerated sharply as oil prices crossed the $100-per-barrel mark.

European markets are leading this transformation. In Germany, the continent’s largest automotive hub, battery electric vehicles (BEVs) accounted for one in every three cars sold in August. According to the European Automobile Manufacturers’ Association, Germany saw a 75% year-over-year surge in BEV sales, fueled by record-high gasoline prices reaching 2.31 euros per liter. Similarly, EV adoption in France has more than doubled.

The International Energy Agency reports that the second quarter of this year saw record-high EV sales across 50 countries. Markets such as Brazil, India, Australia, and Vietnam recorded a doubling of electric car sales between March and June. While industry analysts at Wood Mackenzie caution that massive investment in charging infrastructure and mineral supply chains remains necessary to sustain this pace, the ongoing volatility in global fuel markets continues to erode the competitive advantage of traditional gasoline vehicles.