Global Gas Car Sales Fall Below 50% as Hormuz Shock Accelerates EV Shift

For the first time, gasoline vehicles account for less than half of global car sales, driven by record fuel prices following the Hormuz disruption. This marks a structural shift in the auto market, with EV adoption outside China accelerating faster than previously expected. The long-term demand outlook for oil is weakened, though the immediate impact is tied to the conflict-driven price spike.