Fuel Price Shock Pushes Global Gas Car Sales Below 50% for First Time

Gasoline-only cars fell below 50% of global new vehicle sales for the first time, as the Hormuz crisis and record fuel prices accelerated the shift toward EVs. EV sales surged across major markets, with European BEV sales jumping 52% year-over-year in August and second-quarter global EV sales rising 35% from Q1. High oil and fuel prices could permanently accelerate EV adoption, although charging infrastructure and critical-mineral supply remain major constraints. The share of gasoline cars in global vehicle sales fell below 50% for the first time ever as the Hormuz shock and the resulting record-high fuel prices accelerated the previously...