Gas cars just became a minority. For the first time in history.
Gasoline-only vehicles fell to 49% of global new car sales in H1 2026 — down from 73% just five years ago.
What killed them wasn't policy. It was $100+ oil. The Hormuz shock made fuel prices so painful that EV demand outside China finally exploded: Q2 EV sales jumped 35%, records in 50 countries. The IEA just raised its 2026 forecast to 29% of all cars sold.
But here's the catch nobody puts in the headline:
Hybrids outsold BEVs — 18% vs 17%. Do the math and 83% of the world's new cars still have a gas tank.
Gas lost the crown. The engine didn't die yet.
Is this the EV tipping point, or just a panic trade that reverses when oil cools?
Data: Mobility Global via Nikkei, IEA
#TSLA #BYD #EV #oil #OOTT