In the second quarter of 2026, global sales of electric vehicles rose sharply despite an overall decline in the car market. Experts attribute this to the war in the Middle East and the resulting crisis in fossil fuel supplies.
This is evidenced by data from a new report, ‘Electric Vehicle Markets in Times of Uncertainty’, published by the International Energy Agency (IEA).
A sharp surge
In the first half of 2026, global car sales fell by 5 per cent. The key reasons cited for this decline are rising fuel prices, economic pressures and changes to domestic policies. The decline in sales had the most significant impact on the largest markets — China and the US.
In the first quarter, a downward trend in sales was also observed in the electric vehicle market. However, by the second quarter, sales had soared by 35% compared with the previous quarter.
Year-on-year growth was recorded in 90 countries, with 50 of them breaking records. Between March and June, sales in key markets – Australia, South Korea, Brazil, India and Vietnam – doubled compared with the same period last year.
Source: International Energy Agency
At this rate, according to IEA forecasts, the share of electric vehicles in total sales by the end of 2026 will be 29%. This is higher than the agency’s previous predictions.
Source: International Energy Agency
Sector Vulnerability
Transport accounts for nearly half of global oil consumption, making it the sector most sensitive to price spikes.
“Political and industry response measures to the energy crisis, especially those relating to electric vehicles, may further accelerate changes in the global automotive industry, which is already undergoing significant transformation,” the IEA emphasizes.
Sales in China, where demand for electric vehicles has declined for the first time in a decade, are likely to influence market dynamics. This is despite the fact that their share in vehicle sales will still exceed 60%.
However, demand from the rest of the world may offset this decline. Together with unsold exports from China in previous months, new deliveries account for over 1 million electric vehicles available for sale.
In Ukraine, the used electric vehicle sector continues to dominate. This is driven by the restoration of VAT payments during customs clearance. As EcoPolitic reported, this was especially noticeable at the beginning of the year, when imports sharply fell by a factor of 14.
