The World Is Rapidly Changing and ExxonMobil Executive Committee Knows It

Gas-powered vehicle sales, excluding hybrids, have fallen below 50% of global new vehicle sales for the first time, according to Mobility Global data.

Gas-powered vehicle sales fell 10% year-on-year from January through June 2026, reaching 20.25 million vehicles.

As a result, their share of global new vehicle sales dropped by 3 percentage points to 49%.

The milestone marks a significant change in the global automotive market, where gasoline-powered vehicles have historically made up the majority of new-car sales.

As electric vehicles and other electrified powertrains continue to expand their share of the market, the latest figures show gasoline-only vehicles have now slipped into the minority worldwide.

The 49% figure represents another major milestone in the ongoing global shift towards vehicle electrification.

https://electricdrives.tv/news/cars/

#Automotive #ElectricVehicles #Gas #Market

Comment! It's anonymous!

5 replies (most recent on top)

@cp Right. Every major part of the company is shrinking, selling, or reorganizing itself into oblivion, and somehow IT is walking around acting like it’s the fifth business line.

So let me get this straight…. There’s Upstream, Downstream, Chemicals and Midstream.

But we have….
Upstream: Project Horizon or whatever it’s called = we cannot find more oil.
Downstream: We’re selling all our refineries, including ones that are strongly profitable.
Chemicals: Who knows? Don’t hear too much about them anymore.
Midstream: We cannot seem to stomach investing in any of these assets, even though we know we should.

…oh, and for some reason IT thinks they should be on this list…

Am I missing anything?

@ac Q: What is the end product for the majority of the crude oil that we produce? A: Transportation fuels.

@a8+1m48c1dzc

It is a "different demand" in 2026.

We executed multiple refinery divestitures since Exxon acquired Mobil in 1999 …Benecia, Gravenchon, Fos, Augusta, Trecate, Adelaide, Altona, Sriracha, Port Di-kson, Japan, Torrance, Chalmette, Billings, Ingolstadt, Campana, Slagen, and Fife Ethylene.

Since Exxon acquired Mobil in 1999, we have gone from 31refineries to 11 in 2026. Fawley, Joliet and Singapore are also being advertised as potential asset sales.

Plus, we sold off our 800+ US company-owned and operated service stations (plus the several thousand company owned dealer operated stations)

We make more than gasoline. Demand is not going to be a problem.

Thread regarding ExxonMobil Corp. layoffs

The World Is Rapidly Changing and ExxonMobil Executive Committee Knows It

5 replies (most recent on top)

Post a reply