An analysis showed that pure gasoline-powered cars accounted for less than 50 percent of new cars sold worldwide in the first half of this year for the first time on record.

Citing data from automotive industry analysis firm Mobility Global, Japan's Nihon Keizai Shimbun (Nikkei) reported on October 2 that sales of gasoline cars from January to June dropped 10 percent from the same period last year to 20.25 million units (excluding some large vehicles).

Gasoline cars accounted for 49 percent of all new car sales, down 3 percentage points from the same period a year earlier, falling below the 50 percent threshold.

Nikkei explained that this marks the first time gasoline cars have lost their 50 percent market share since the 1920s when automobiles became widespread, noting that the share has plummeted from 73 percent in 2021 over the span of five years.

By region, gasoline car sales saw notable declines in China and Europe, dropping 26 percent and 13 percent, respectively.

Nikkei analyzed that demand for gasoline cars dropped significantly as soaring crude oil prices, driven by tense international situations, led to higher gasoline prices and supply instability.

Electric vehicle (EV) sales in the first half reached 6.87 million units, up 12 percent from the first half of last year.

Consumers appear to be increasingly drawn to EVs due to the lower maintenance costs amid high oil prices.

EVs accounted for 17 percent of all new car sales, a 3 percentage point increase from the same period last year.

While the Chinese market accounted for about 50 percent of global EV sales, sales in the country fell 3 percent year-on-year to 3.44 million units, affected by the scaling back of tax cuts for EVs starting in January.

Sales in the North American market dropped by 15 percent, affected by President Trump revoking preferential measures.

On the other hand, European EV sales surged 32 percent to 1.81 million units.

According to the European Automobile Manufacturers' Association (ACEA), EV sales in 31 major European countries surpassed gasoline car sales for the first time in the first half of this year.

EV sales in Southeast Asia jumped 81 percent year-on-year to 350,000 units, while the Oceania region saw sales surge 2.2-fold to 110,000 units.

Yoshiaki Kawano, an analyst at Mobility Global, explained, "While hybrid electric vehicles (HEVs) grew around 2024 due to the suspension of EV subsidies, the low maintenance costs of EVs are being re-evaluated amid high oil prices."

He projected, "There are few cases of EV buyers returning to gasoline cars or hybrids, so if price declines continue, genuine demand for EVs that does not rely on subsidies will also increase."

(Photo: Yonhap News)