According to new analysis from energy think tank Ember, electric cars in oil-importing countries displaced an estimated 200 million barrels of crude oil between March and August, worth about $20 billion, during the Hormuz energy crisis. China avoided roughly $14 billion of that consumption, while EU countries saved $3.1 billion, led by Germany and France. The figures highlight how existing EV fleets can soften the economic blow of supply disruptions.
While that global picture shows progress, the US is falling behind. Battery-electric vehicles made up just 6% of US light-duty vehicle sales in the first eight months of 2026, after federal EV tax credits were rolled back in September 2025. Of the 56 countries Ember tracks, 49 now have higher BEV sales shares than the US, and 15 passed it for the first time this year, including India, Brazil, Italy, Malaysia, and New Zealand. India has been ahead of the US every month since April.
Globally, BEV sales rose 11% year over year in the first eight months of 2026, reaching 18% of new car sales, while plug-in hybrid sales fell 12% and internal combustion engine sales dropped 6%. Outside China and the US, BEV sales jumped 45%. Ember credits oil supply disruptions and supportive policies for accelerating adoption in markets like India, Chile, Australia, and New Zealand. Japan doubled its BEV sales after introducing upfront-cost support, France’s social leasing scheme pushed its BEV share above 30%, and Germany saw stronger sales after new subsidies took effect at the start of 2026.