Electric vehicle sales overtake petrol cars for first time

For the first time in automotive history, more electric vehicles were sold globally than traditional petrol-powered cars in a single quarter. Industry data shows EVs accounted for 51.3% of new car sales in Q1 2026, up from 38% in the same period last year.

The tipping point was driven by a combination of factors: battery costs have fallen 40% in two years, making EVs price-competitive with conventional vehicles; charging infrastructure has expanded rapidly in urban and rural areas; and several governments have introduced generous purchase incentives.

What It Means for the Industry

Legacy automakers are scrambling to accelerate their electrification plans. Several major manufacturers have announced they will cease production of new petrol engines within five years, earlier than previously planned. The used car market is also shifting, with second-hand EV prices stabilising as supply increases.