Consumers will feel impact of war at fuel pumps
The global oil market is under pressure, with geopolitical instability driving prices higher and directly impacting consumers at the pump.
- Industry News
- 4 March 2026
Electric vehicles (EVs) outsold petrol‑only cars in the European Union (EU) for the first time in December, marking a symbolic milestone in the bloc’s transition towards cleaner transportation.
New figures from ACEA show that fully electric models captured 22.6% of new registrations, narrowly surpassing petrol cars at 22.5%, while hybrids remained the dominant force with a commanding 44% share.
The shift comes as EU lawmakers debate softening planned emissions regulations, a move that would give combustion‑engine cars a longer stay on the market. Industry observers warn, however, that December’s result reflects more than consumer preference alone.
Analyst Matthias Schmidt noted that declining petrol numbers partly stem from certain models being reclassified as “mild hybrids”, a category that still centres on petrol engines but offers only marginal emissions benefits. He believes electric vehicles may still need around five years to genuinely outpace combustion engines across all European markets.
Across the wider region, including the United Kingdom (UK) and Norway, car sales recorded their sixth consecutive month of year‑on‑year growth. The competitive landscape is also shifting rapidly, with Chinese manufacturers such as BYD, Changan and Geely expanding aggressively, challenging established European marques. Volkswagen and BMW continue to introduce new electric models as they face mounting pressure from foreign rivals and the profitability challenges of the EV market.
The EU’s December proposal to abandon its effective 2035 ban on combustion‑engine cars underscores these tensions. Yet sector specialists remain upbeat about electric vehicle uptake. Chris Heron of E‑Mobility Europe highlighted the arrival of more affordable European-made EVs alongside renewed government incentives, pointing to growing public enthusiasm and confident projections for further expansion into 2026.
Performance among individual carmakers varied: Volkswagen and Stellantis posted healthy registration increases, Renault slipped slightly, while Tesla saw a significant decline. BYD, meanwhile, recorded a dramatic surge as it tightened its grip on the European market.
Overall, Europe’s December registrations showed strong gains for electric, plug‑in hybrid and hybrid models, which together accounted for two‑thirds of new cars, a clear sign that the continent’s transition to cleaner motoring is continuing to gather momentum.
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