Oil Prices Spike, US Analyst: EV Search Interest Grows, Sales Remain to be Seen
The US-Iran war has pushed up oil prices. A director at Cox Automotive noted that consumer search interest in EVs has increased, but actual sales changes will require a longer observation period. High ownership costs remain a challenge.
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- 📰 Published: April 16, 2026 at 08:53
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Focus on the US-Iran War
Central News Agency
(CNA, Reporter Chang Hsin-yu, San Francisco, 15th) The US-Iran war has driven up oil prices. Stephanie Valdez Streaty, Industry Insights Director at US automotive market research firm Cox Automotive, told CNA in an interview that data from car-buying platforms shows increased consumer interest in electric vehicles (EVs). However, it will take more time to see changes in purchasing behavior.
The US-Iran war broke out in late February, impacting global energy markets and causing oil prices to rise.
According to the American Automobile Association (AAA), the national average gasoline price on the 15th was $4.108 per gallon (about 3.785 liters, roughly NT$130). In California, it was higher than the national average at $5.878, approaching $6.
Regarding the impact of soaring oil prices on the US EV market, Stephanie Valdez Streaty, Industry Insights Director at Cox Automotive, stated that more consumers are considering EV options.
Cox Automotive, headquartered in Atlanta, owns several automotive information and trading platforms. Streaty, whose research focuses on the EV transition, pointed out in a video interview with CNA that data shows searches for new EVs and fuel-efficient cars in March increased by about 16% compared to the end of the first quarter last year.
Streaty said: "I think the public is considering [EVs], but we won't see behavioral changes immediately. Oil prices probably need to remain high for a long time before consumers' purchasing behavior begins to change."
She observed that with rising oil prices, US consumers will initially take a wait-and-see approach and delay car purchases until uncertain factors are resolved.
She also added that it would take at least over half a year, or a year, to better discern the impact of rising oil prices on EV sales.
According to the latest statistics from Kelley Blue Book, a car-buying information platform under Cox Automotive, EV sales in the first quarter of this year dropped by 27% compared to the same period last year.
Streaty said "affordability" is a major challenge in the auto market. US auto insurance premiums have risen significantly over the past five years, meaning the cost of owning a vehicle has increased. Moreover, affected by high interest rates and many uncertain factors, overall new car sales are expected to decline this year compared to last year. The new EV market also needs more "affordable models."
She believes the EV market still possesses a degree of resilience.
She further analyzed that with a new administration in office, the withdrawal of EV subsidies brings drastic policy changes. However, with energy demand greatly increasing and battery technology involving national security, the US has begun to build its own battery supply chain, continue to innovate technology, and gradually improve charging stations and other facilities. "The important factors supporting the long-term development of EVs are still moving forward."
Central News Agency
(CNA, Reporter Chang Hsin-yu, San Francisco, 15th) The US-Iran war has driven up oil prices. Stephanie Valdez Streaty, Industry Insights Director at US automotive market research firm Cox Automotive, told CNA in an interview that data from car-buying platforms shows increased consumer interest in electric vehicles (EVs). However, it will take more time to see changes in purchasing behavior.
The US-Iran war broke out in late February, impacting global energy markets and causing oil prices to rise.
According to the American Automobile Association (AAA), the national average gasoline price on the 15th was $4.108 per gallon (about 3.785 liters, roughly NT$130). In California, it was higher than the national average at $5.878, approaching $6.
Regarding the impact of soaring oil prices on the US EV market, Stephanie Valdez Streaty, Industry Insights Director at Cox Automotive, stated that more consumers are considering EV options.
Cox Automotive, headquartered in Atlanta, owns several automotive information and trading platforms. Streaty, whose research focuses on the EV transition, pointed out in a video interview with CNA that data shows searches for new EVs and fuel-efficient cars in March increased by about 16% compared to the end of the first quarter last year.
Streaty said: "I think the public is considering [EVs], but we won't see behavioral changes immediately. Oil prices probably need to remain high for a long time before consumers' purchasing behavior begins to change."
She observed that with rising oil prices, US consumers will initially take a wait-and-see approach and delay car purchases until uncertain factors are resolved.
She also added that it would take at least over half a year, or a year, to better discern the impact of rising oil prices on EV sales.
According to the latest statistics from Kelley Blue Book, a car-buying information platform under Cox Automotive, EV sales in the first quarter of this year dropped by 27% compared to the same period last year.
Streaty said "affordability" is a major challenge in the auto market. US auto insurance premiums have risen significantly over the past five years, meaning the cost of owning a vehicle has increased. Moreover, affected by high interest rates and many uncertain factors, overall new car sales are expected to decline this year compared to last year. The new EV market also needs more "affordable models."
She believes the EV market still possesses a degree of resilience.
She further analyzed that with a new administration in office, the withdrawal of EV subsidies brings drastic policy changes. However, with energy demand greatly increasing and battery technology involving national security, the US has begun to build its own battery supply chain, continue to innovate technology, and gradually improve charging stations and other facilities. "The important factors supporting the long-term development of EVs are still moving forward."