Petrol Shock Sparks EV Boom In Europe, Used Electric Cars See Huge Demand

Electric vehicle sales in Europe are seeing a major surge as rising fuel prices, linked to the Iran war and global oil disruption, push buyers toward EVs. New EV registrations jumped 34% year-on-year in April across major European markets, while used EV demand also rose sharply. The trend is benefiting both established automakers and Chinese EV brands, as consumers look for cheaper running costs amid expensive petrol and diesel prices. Markets like Denmark and the Netherlands continue to grow strongly, while slower EV markets such as Italy are also seeing renewed interest. Automakers including Volvo and Renault are reporting higher enquiries and stronger EV orders, especially for affordable electric models. This shift could become a turning point for Europe’s auto industry, which has struggled with slower-than-expected EV adoption despite heavy investments.