Report: Global Gas Vehicle Sales Numbers Peaked in 2017

A lot of people think that EVs are dead or dying, but that’s not really the case. While EV sales might not be growing at the breakneck pace many had hoped, they’re still growing. The part of the industry that isn’t growing is internal combustion vehicles, which were the focus of Energy.gov’s most recent Fact of the Week (FotW).

The government agency said that sales of light-duty internal combustion engine vehicles peaked in 2017, with more than 80 million units sold. The COVID-19 pandemic significantly impacted all vehicle sales, but as Energy.gov pointed out, consumers had more electrified choices after 2020, likely contributing to their growth.

After 2017, gas vehicle sales started falling, reaching a low of fewer than 60 million sold in 2022. At the same time, sales of plug-in hybrids and EVs started climbing in 2020, though they remain a much smaller part of the overall market. That said, the data lumps traditional hybrids in with ICE vehicles, so the numbers could look much different if they were broken out.

Gas vehicle sales appear to have stabilized over the last couple of years, which could be driven by the increased interest in hybrids. Many buyers are turned off by high EV and PHEV prices, concerns about charging, range anxiety, and more. Additionally, the incoming Trump administration is expected to nix the federal EV tax credit, which may boost gas vehicle sales.

[Images: Toyota, Ram, Kia]

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