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IEA: Global EV Sales Surged 35% in Q2 2026 Due to Oil Price Shock
Global sales of electric vehicles (EVs) surged by 35% in the second quarter of 2026 compared to the first quarter, driven by an oil price shock caused by the Middle East crisis. The International Energy Agency (IEA) reported that the crisis reduced crude supply and increased oil and fuel prices, leading drivers to prefer EVs. Despite a subdued first quarter, the strong Q2 rebound meant first-half 2026 EV sales were only slightly lower than the same period last year. The IEA now projects EVs will account for 29% of total global car sales in 2026, up from its previous forecast of 28%.
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