Elon Musk Sees ‘Almost All Cars’ Going Electric as Gasoline-Only Vehicles Fall Below Half of Global Sales

Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk expressed optimism on Wednesday about all future cars being electric after gasoline-only cars dropped below 50% of global new vehicle sales for the first time. Musk Celebrates Milestone “Gasoline-only” means pure internal combustion engines with no hybrid assistance, plug, or diesel support. Mobility Global data, as reported by Nikkei, found that the share of gas-engine vehicles shrank 3 percentage points to 49% for the period between January and June. EVs accounted for 17% of all new-vehicle sales. Musk said that a major threshold has been passed, anticipating that “almost all cars” will go electric in the future. Major threshold passed. Almost all cars will be electric in the future. https://t.co/ZGDptzVv6H— Elon Musk (@elonmusk) October 14, 2026 Read Also: Inflation Comes in Hotter Than Expected at 3.7%, Keeping Fed Hike Bets Alive EV Dominance Imminent? The data found that pure gasoline cars declined from 73% of the market in 2021 to 49% in the first half of 2026 — likely the first time they have been a minority since cars became common in the 1920s. Mobility Global forecasts that EVs will make up more than 30% of total vehicle production by 2030, surpassing hybrids and conventional engine-powered vehicles to become the dominant powertrain. Kalshi bettors, meanwhile, price in a 45% chance of EV market share topping 30% by 2030, and a 24% chance they account for half of the car sales. Source: Kalshi Chinese carmaker BYD Co. Ltd. (OTC: BYDDY) (OTC: BYDDF) surpassed Tesla as the world’s largest EV maker for the full year in 2025, though the two companies trade the quarterly top spot back and forth. Price Action: Tesla shares fell 3.35% in after-hours trading, according to Benzinga Pro. The stock closed 2.15% lower at $367.16 during Wednesday’s regular trading session. TSLA has stronger short- and medium-term price momentum but has lagged over the longer term, according to Benzinga’s Edge Stock Rankings. See More: Top Growth Stocks Kalshi and Benzinga have an existing data collaboration agreement. Photo courtesy: IAB Studio on Shutterstock.com