economy
Interest in EVs surges in Europe as fuel prices jump after Iran war
Demand at online marketplaces could settle at a new, higher normal, with the crisis leaving consumers ‘scarred’
TL;DR
- Interest in electric cars has increased significantly in Europe since the war in Iran began, driven by rising petrol prices.
- Online marketplaces in the UK, Germany, France, and Spain reported large increases in inquiries for electric vehicles.
- The war caused rapid increases in petrol prices, while electricity prices remained relatively stable.
- Mobile.de saw a greater than 50% increase in electric car inquiries in March compared to February.
- Carwow reported 20% to 30% increases in electric car inquiries in the UK, Spain, and Germany.
- Battery electric car registrations in the UK hit a record high in March.
- La Centrale saw a 160% increase in searches for electric vehicles between the start of March and April.
- AutoScout24 reported a 40% increase in electric car demand in Germany, Austria, and Italy.
- Experts suggest the increased interest may settle at a new, higher normal for EV demand.
- Consumers are becoming more aware of the total cost of ownership, considering long-term savings from lower running costs.