US-Iran War Pushes Up Oil Prices, European EV Sales Increase by Nearly 30% in Q1
Affected by the US-Iran war driving up oil prices, sales of pure electric vehicles (BEVs) in major European car markets significantly increased by nearly 30% in the first quarter, indicating a consumer shift towards eco-friendly vehicles.
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- 📰 Published: April 20, 2026 at 14:56
- 🔍 Collected: April 20, 2026 at 15:31 (35 min after Published)
- 🤖 AI Analyzed: April 20, 2026 at 16:39 (1h 7m after Collected)
Since the US-Iran conflict caused oil prices to reach multi-year highs, electric vehicle (EV) sales in Europe have climbed significantly. According to data, in the first quarter of this year, new registrations for pure electric vehicles (BEVs) in 15 major European markets increased by 29.4% compared to the same period last year, reaching nearly 560,000 units. March alone saw a surge of 51.3%, exceeding 240,000 units. This trend indicates that rising energy prices are accelerating the shift in the European automotive market towards electric vehicles. Reuters reports that according to data released today by industry association E-Mobility Europe and research firm New Automotive, registrations for pure electric vehicles (BEVs) in 15 European markets increased by 29.4% year-on-year in the first quarter to nearly 560,000 units, with March alone surging by 51.3% to over 240,000 units. These markets accounted for 94% of total BEV sales in the EU and European Free Trade Association (EFTA) in the previous year, with EFTA member states' regulations aligning with EU CO2 emission standards. Chris Heron, Secretary-General of E-Mobility Europe, stated in a press release: "The surge in EV sales in March is one of the most significant developments in European energy security recently." The two organizations stated in a joint press release that the 560,000 BEVs newly registered in the first quarter can reduce annual oil consumption by 2 million barrels. The statement indicated that the top five EU EV markets, including Germany, France, Spain, Italy, and Poland, all saw their BEV sales grow by more than 40% since the beginning of this year. It is estimated that EVs accounted for 21.2% of new vehicle registrations in the EU and EFTA countries in March. Another report released by New Automotive earlier this month showed that driven by rising gasoline prices, the UK, Europe's second-largest EV market after Germany, saw its Q1 registrations grow by 12.8%, accounting for 22.5% of new car sales.