The shift in China helped push gasoline-only cars below 50% of global new vehicle sales for the first time, according to data reported by Nikkei. While gasoline models still maintain a 77% market share in the U.S., China's ICE share fell from over 90% to 33% in the last five years. Elon Musk stated that China's dependency on oil is dropping fast as the country builds its automotive industry around electric transport.
Tuesday, October 20, 2026
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China's ICE Sales Fall to 33% of Market for First Time
Commodities5 days ago
Electric vehicles accounted for 58.1% of new car registrations in China in 2026, far outstripping the 7.19% share in the United States. Norway led global adoption with a registration rate of 98.5%. This transition is driven by a decline in China's internal combustion engine (ICE) sales, which fell to 33% of the domestic market in September, while battery electric vehicles took 47.3% and plug-ins took 19.7%.
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