IEA Projects Electric Vehicles to Account for 29% of Global Car Sales in 2026

en.Wedoany.com Reported - The International Energy Agency (IEA), in its report "Electric Car Markets in a Time of Uncertainty," stated that global electric vehicle sales in the second quarter of this year rose 35% compared to the first quarter, reaching record highs in 50 countries. The report attributes this growth partly to the energy crisis triggered by the Middle East conflict, which has once again exposed the volatility of fuel prices.

According to the report's data, global total vehicle sales fell approximately 5% year-on-year between January and June this year, primarily dragged down by weakening demand in the two largest markets, China and the United States, amid economic pressures, rising fuel costs, and policy shifts. In this context, electric vehicle sales also declined in the first quarter but rebounded significantly in the second quarter, with a quarter-on-quarter increase of 35%.

Looking at country-level data, electric vehicle sales in Australia, Brazil, South Korea, India, and Vietnam doubled between March and June compared to the same period in 2025. During the first six months of 2026, more than 90 countries recorded year-on-year growth in electric vehicle sales. Given the continued introduction of new policy support across multiple markets in Europe, Latin America, and Southeast Asia, the IEA projects that electric vehicles will account for 29% of total global car sales in 2026.

The report also notes that road vehicles currently account for nearly 50% of global oil consumption, making the automotive industry highly sensitive to fuel price fluctuations and supply disruptions, while also serving as a key driver of oil imports in several regions dependent on Middle Eastern energy. The analysis suggests that the policy and industry signals emerging from the energy crisis—particularly those related to electric vehicles—have the potential to accelerate the industry's transition, which is already undergoing a significant shift toward electrification.

Finally, the report forecasts that electric vehicle sales in China will stall in 2026, which will have a notable impact on global total sales. This would mark the first stagnation in sales for this market in a decade, although electric vehicles are expected to account for over 60% of its total sales, setting a new record high.