Global EV Sales Reach 2.15 Million In September, as Global Oil Prices Reach Five-Month High October 20

Global oil prices surged to a five-month high, ABC News reported on October 20, 2026. Iran and its Houthi allies claimed attacks on Middle Eastern oil infrastructure, adding to concerns about global energy supplies. Brent crude futures, the international oil benchmark, climbed above $111 per barrel for the first time since May before retreating to $110.30. Prices have surged more than 55% since the Iran war began in late February.

Oil shortages continue to disrupt crude markets, pushing up costs for refiners and contributing to higher gasoline prices at the pump.

Fuel-price increases are accelerating global electric vehicle (EV) adoption and hastening the decline of diesel passenger cars in Europe, according to automakers cited by the Financial Times on October 16, 2026. The effects of the Iran war and rising petroleum costs are reshaping consumer demand, with EV sales gaining momentum in Europe, Southeast Asia, and Latin America.

Diesel prices have more than doubled in European and U.S. wholesale markets since the Iran war began in February, reaching $220 per barrel in September. The International Energy Agency warned of a potential global diesel shortage lasting until mid-2027. European drivers are particularly vulnerable because diesel vehicles account for approximately 40% of cars on the continent’s roads. Filling a 50-liter diesel tank now costs about €30 more than in January, an increase of more than 40%.

Automakers increasingly view electrification as a way to reduce exposure to volatile fuel prices. Volkswagen CEO Oliver Blume described EVs as a path to independence from fuel costs. Volvo Cars executives questioned diesel’s future, while Stellantis CEO Antonio Filosa said diesel still has some applications but is becoming less relevant outside trucks and commercial vehicles.

Renault expects electric small vans and commercial vehicles to replace diesel models as charging speeds improve and more affordable EVs become available. Fleet operators face particular pressure because unpredictable diesel prices make transportation budgets harder to manage.

Although U.S. EV sales suffered after the federal tax credit expired, early signs of recovery are emerging. The broader trend suggests that rising fuel costs could strengthen the economic case for electric transportation, while increasing uncertainty over diesel prices and availability accelerates the transition away from petroleum-powered vehicles.

On October 4, 2026, OilPrice.com reported that the share of gasoline-only cars in global new vehicle sales fell below 50% for the first time ever as the Strait of Hormuz crisis and resulting record-high fuel prices accelerated the shift toward electric vehicles (EVs) outside China.

Global EV Sales Reached 2.15 Million Units in September 2026

Global electric vehicle (EV) sales reached 2.15 million units in September 2026, bringing year-to-date sales to 15.5 million, according to an October 16, 2026 Benchmark Mineral Intelligence report. Sales increased 17% month-on-month but declined 2% year-on-year as record growth in Europe was offset by weaker markets in China and North America. Global EV sales are up 3% compared with the same period in 2025.

Europe delivered its strongest month on record, with nearly 600,000 EVs sold in September. Sales increased 39% year-on-year and 62% month-on-month, exceeding the previous record set in June by 10%. Battery electric vehicle (BEV) sales grew 50% year-on-year, while plug-in hybrid (PHEV) sales increased 16%. The United Kingdom, France, Spain, Portugal and Finland all recorded their highest monthly EV sales. Germany recorded a 61% increase to 117,000 vehicles, while France’s sales climbed 78% to nearly 80,000.

The European Union and China also agreed to a proposed cap on imports of Chinese-built full and plug-in hybrid vehicles. Subject to approval by EU member states, the arrangement would limit annual imports to 350,000 vehicles starting in 2027 for four years, with the cap increasing 6% annually from the second year. The European Commission expects the measure to reduce shipments substantially. Chinese-built PHEVs accounted for 29% of sales across the EU, European Free Trade Association and UK so far in 2026, up from approximately 14% for all of 2025.

North American EV sales fell 44% year-on-year in September, the steepest decline of 2026, and dropped 8% from August. The region’s year-to-date sales were down 24%. Benchmark attributed much of the decline to comparison with September 2025, when US buyers rushed to purchase EVs before the federal EV tax credit expired at the end of the month. The year-on-year comparison is expected to improve in the fourth quarter as it shifts to the weaker sales period following the credit’s expiration.

China’s EV sales increased 7% month-on-month in September but fell 18% year-on-year, widening the decline from August’s 11%. Year-to-date sales were down 13%. PHEVs were down 25% year-to-date, while BEVs declined 6%. Despite weaker domestic demand, Chinese automakers maintained production and expanded exports. Passenger car new energy vehicle (NEV) exports reached a record 558,000 units in September.

Two policy changes could affect China’s export outlook in 2027. The proposed EU import cap would restrict Chinese PHEV shipments to a major export market, while China plans to reduce its NEV export VAT rebate from 13% to 9% on April 1, 2027. The lower rebate could increase export costs and put additional pressure on automakers’ overseas profitability.

Benchmark Mineral Intelligence Data Manager Charles Lester said Europe’s record performance was not enough to offset the sharper contraction in North America and weaker Chinese domestic demand. Although September’s global total declined slightly year-on-year, rising year-to-date sales and Europe’s accelerating growth demonstrate continued momentum in major EV markets.

EVinfo.net’s Take: The U.S. Must Reverse Course To Compete In The Global EV Race

The United States risks falling further behind in the global electric vehicle race as bad federal transportation policies undermine EV adoption and domestic industry growth. Rolling back these horrible anti-EV policies and restoring support for electrification is essential to keeping America competitive.

Ember’s new EV sales tracker covers 56 countries, representing more than 90% of global electric car sales and over 80% of all car sales. Of those markets, 49 have a higher BEV sales share than the United States.

China and Europe are expanding EV production, battery supply chains, charging infrastructure, and manufacturing capacity. If the United States retreats while global competitors invest, American automakers and suppliers risk losing market share, factories, and high-quality jobs.

Electrification is also an energy security and economic growth opportunity. EVs reduce dependence on petroleum, give consumers alternatives when gasoline prices rise, and create demand for American-made vehicles, batteries, charging equipment, and electrical infrastructure.

The United States cannot afford to surrender leadership in one of the world’s most important transportation transitions. Policymakers should pursue consistent, technology-forward transportation policies that encourage EV adoption, strengthen domestic manufacturing, expand reliable charging, and support American workers. Failure to compete will cost the nation jobs, energy security, and long-term economic growth.