IEA: EV cars to account for 29% of worldwide sales this year
Nigeria missing as S’Africa records fivefold growth, Egypt triples sales
Emmanuel Addeh in Abuja
Electric Vehicle (EV) sales are expected to reach a record 23 million units worldwide in 2026 despite a slowdown in the global automobile market, with Africa emerging as one of the world’s fastest-growing markets.
Sales on the continent more than doubled in the first half of the year, according to a new report by the International Energy Agency (IEA), titled: “Electric Car Markets in a Time of Uncertainty.”
It projected that electric cars will account for 29 per cent of all new vehicles sold globally this year, up from previous estimates, even as overall global car sales are expected to decline by about two per cent amid economic uncertainty and geopolitical tensions.
The IEA noted that while the global automotive industry continues to grapple with weakening demand, rising costs and disruptions linked to the 2026 energy crisis triggered by conflict in the Middle East, demand for electric vehicles has remained remarkably resilient because of concerns over fuel security and volatile oil prices.
For Africa, the report highlighted a breakthrough year, with electric vehicle sales more than doubling to exceed 30,000 units during the first six months of 2026.
The strongest performances came from South Africa, where EV sales increased more than fivefold year-on-year, while Egypt recorded more than a threefold increase, underscoring the continent’s growing appetite for cleaner transportation despite relatively low market penetration.
The report also pointed to increasing government support across Africa, citing Kenya’s decision to waive import duties on 100,000 electric vehicles and Rwanda’s directive requiring all public institutions to ensure that at least 30 per cent of newly procured vehicles are electric.
Globally, more than 9 million electric cars were sold during the first half of 2026, with over 5 million sold in the second quarter alone. Although first-half sales were about one per cent below the corresponding period in 2025 because of weaker demand in China, EVs still accounted for 24 per cent of all global vehicle sales, one percentage point higher than last year.
According to the IEA, electric vehicle sales increased in more than 90 countries during the first half of the year, reflecting broad-based global adoption despite a challenging economic environment.
The agency said road transport accounts for nearly half of global oil consumption, making countries heavily dependent on imported petroleum particularly vulnerable to fuel price shocks.
It explained that the current energy crisis has renewed government interest in accelerating electric mobility as a strategy to improve energy security, reduce oil imports and shield consumers from volatile fuel prices.
Several countries have already introduced tax incentives, vehicle scrappage programmes, charging infrastructure investments and fleet electrification initiatives to speed up EV adoption.
Beyond Africa, electric vehicle sales more than doubled in Latin America during the first half of the year, while India recorded growth exceeding 90 per cent and Southeast Asia expanded by about 75 per cent, the report said.
Australia, Brazil, India, South Korea and Vietnam all roughly doubled their sales after the onset of the energy crisis, highlighting a shift in demand toward emerging markets.
The report nevertheless warned that China’s slowing domestic market continues to weigh on global industry performance.
Total car sales in China fell by more than 20 per cent during the first half of 2026, although electric vehicles still accounted for more than 60 per cent of all new cars sold in the country. Chinese manufacturers responded by increasing vehicle exports by 65 per cent, while exports of electric cars surged by more than 120 per cent.
The IEA observed that China remains the dominant force in the global EV industry, benefiting from integrated supply chains, advanced battery manufacturing capabilities and production costs estimated to be around 35 per cent lower than those in advanced economies.
Chinese companies have rapidly expanded into emerging markets, including Africa, Latin America and Southeast Asia, where they now command a substantial share of electric vehicle sales.
In South Africa, Chinese-made electric vehicles now account for about 90 per cent of all new EV sales after imports accelerated sharply during the first half of 2026. Outside Europe and the United States, Chinese imports represented about 55 per cent of all electric vehicle sales, illustrating the country’s growing influence across developing markets.
The agency argued that the future competitiveness of countries in the automotive industry will increasingly depend on battery manufacturing, software capabilities and resilient supply chains rather than traditional engine production.