IEA: EVs May Represent Quarter of Global Auto Sales in 2023

Published: May 15, 2025 15:56

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[IEA: EV sales may account for a quarter of global auto sales this year]

The International Energy Agency (IEA) said on Wednesday that despite trade and policy issues, EVs are expected to account for a quarter of global auto sales this year. Last year, EVs replaced approximately 1.3 million barrels per day (bpd) of crude oil production, while current global crude oil production stands at around 100 million bpd. Based on existing national policies, this figure is projected to reach 5 million bpd by 2030, which is the IEA's most conservative forecast. The agency currently expects that by 2030, EVs will account for 20% of the light-duty vehicle market (sedans, vans, SUVs, and pickup trucks), less than half of the IEA's analysis and forecast from last year.

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