After a century of dominance, gas-only vehicles now account for less than half of global new-vehicle sales. High oil prices triggered by the conflict in the Middle East have prompted more and more car buyers to ditch traditional combustion cars for EVs or hybrids.

Gas-only vehicles accounted for 49% of all new-vehicle sales around the world in the first half of the year, excluding hybrids and other electrified models, according to data from Mobility Global quoted by Nikkei Asia.

Affordable models like the Renault 5 E-Tech have boosted European EV sales.

It’s the first time that gas cars have had less than 50% of the global market share since the technology went mainstream in the 1920s, spurred by the widespread adoption of Tetraethyllead, the additive that created leaded gasoline. Despite the health hazards associated with the additive, it boosted combustion engines’ compression, which in turn led to more performance and increased fuel efficiency.

Pure gas vehicles held 73% of the global new-car market in 2021, but sales have tumbled since then. In the first half of the year, automakers sold 20.25 million units worldwide, 10% fewer than during the same period last year.

Most people who ditched gas cars went for EVs or hybrids. Despite what’s going on in the United States, electric cars are experiencing huge growth in popularity elsewhere. 44 million units after incentives were scrapped in January. Closer to home, EV sales in North America went down 15%.

Source link