EVs Will Be Nearly One-Third of Global New Car Sales This Year: IEA

The International Energy Agency says electric vehicle sales are expected to reach 23 million this year despite a slump in the first quarter.

BYD electric cars and other car brands for export are stacked at the Taicang port in Suzhou, in eastern China's Jiangsu Province, on April 7, 2025. AFP/Getty Images

Electric vehicles are expected to account for nearly one-third of all new vehicles sold worldwide this year, as rising fuel prices make them more attractive to buyers.

The projection follows another year of strong growth for the EV market. Global EV sales topped 20 million in 2025, up 20 percent from the previous year, according to the latest report from the International Energy Agency (IEA), which was released on May 20. The intergovernmental organization expects roughly 23 million EVs to be sold in 2026, a further 15 percent increase.