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

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.

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.

Kalshi and Benzinga have an existing data collaboration agreement.

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