Monday, August 3, 2026

Largest Supply Disruption in History? 50 Countries Turn to Electric Cars Amid Fuel Cr!sis

Record electric vehicle (EV) sales are spreading across the world as high fuel prices push more drivers toward electric cars. According to the International Energy Agency (IEA), second-quarter sales of electric cars in 2026 reached record levels in 50 countries.

Global EV sales had fallen in the first three months of the year, mainly because of weaker demand in China and the United States. They then rebounded strongly, rising 35 percent from the first quarter. In Australia, Brazil, India, Korea and Vietnam, sales roughly doubled between March and June compared with the same period in 2025. More than 90 countries recorded year-on-year growth in electric car sales during the first half of 2026.

The IEA now expects plug-in electric cars to make up 29 percent of all new car sales worldwide in 2026. This is one percentage point higher than its earlier forecast. Strong demand in Europe, parts of Asia and Latin America, along with continued policy support, is driving the rise. Overall car sales, by contrast, fell by about 5 percent in the first half of the year.

Higher fuel prices linked to the ongoing energy crisis have encouraged many buyers to switch. While markets remain uneven and Chinese sales are expected to stay flat in volume, the share of electric cars in China is set to pass 60 percent.

Electric mobility is clearly becoming one of the fastest-growing trends in the global car industry as countries and consumers respond to higher oil costs and the need for cleaner transport.

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