Car buyers’ interest in electric vehicles (EVs) has surged across Europe since the outbreak of war in Iran in late February, as rising petrol costs highlight the cheaper power available from a plug. Online marketplaces in the UK, Germany, France and Spain reported significant increases in inquiries about EVs amid global commodity turmoil triggered by the conflict.
In Germany, mobile.de reported a greater than 50% rise in EV inquiries in March compared with February, while demand for petrol and diesel vehicles dipped. Ajay Bhatia, the marketplace’s chief executive, called high fuel prices a “catalyst” for an “E-Auto-Boom”. Meanwhile, Carwow, which operates in the UK, Spain and Germany, saw 20% to 30% increases in EV inquiries across all three markets between February and March.
The war – which began on 28 February with strikes that effectively closed the Strait of Hormuz – sent fuel prices soaring, while electricity costs remained relatively stable. In France, La Centrale reported a 160% increase in EV searches from early March to early April. Guillaume-Henri Blanchet, the deputy chief executive, said: “Drivers are very sensitive to energy prices and they are seeking alternatives.”
Industry experts suggest the surge may settle at a higher-than-before baseline, but remain cautious. Bhatia predicted that EV demand would reach “a new, higher normal than we had before”, supported by improved charging infrastructure and lower battery-electric vehicle prices. However, Ian Plummer of Autotrader in the UK noted that past fuel price spikes did not lead to sustained EV uptake, adding: “There is still work to do to ensure consumers are confident that electric cars can fit their lifestyles.”
