Interest in electric vehicles (EVs) has surged across Europe since the start of the war in Iran, as rising petrol prices highlight the cheaper power available from a plug. Online marketplaces in the UK, Germany, France and Spain reported significant increases in inquiries about EVs since the conflict began in February.
The war caused rapid increases in petrol prices and global protests, while electricity prices have not been as badly affected. Mobile.de, Germany's biggest online car marketplace, said high fuel prices had been a 'catalyst' for an 'E-Auto-Boom'. Ajay Bhatia, chief executive of Mobile.de, reported a greater than 50% increase in EV inquiries in March compared with February, while petrol and diesel inquiries dipped.
Carwow, which links buyers with dealers in the UK, Spain and Germany, reported 20% to 30% increases in EV inquiries in all three markets between February and March. In the UK, EV demand was up 23% over the month, while hybrid interest rose by 19%. La Centrale, one of France's largest car marketplaces, said searches for EVs increased by 160% between the start of March and the start of April.
Figures from the Society of Motor Manufacturers and Traders (SMMT) showed that in March, battery electric car registrations totalled 86,120, a jump of 24.2% compared with the same month last year and a record high. AutoScout24 reported EV demand up by about 40% in Germany, Austria and Italy, while demand for petrol and diesel was flat or falling.
Industry experts suggest the increased interest may be permanent. Bhatia said EV demand will settle at 'a new, higher normal than we had before', helped by improvements in charging infrastructure and lower prices. Guillaume-Henri Blanchet, deputy chief executive of La Centrale, added: 'This crisis will leave some scars on consumers,' making them more aware of total cost of ownership and willing to consider higher upfront costs for long-term savings.
