Interest in electric cars has jumped amid rising fuel prices since the Middle East conflict began, according to Autotrader.
Autotrader, an online marketplace for buying and selling cars, has reported a sharp increase in enquiries for both new and used electric vehicles (EVs) since the Iran war began at the end of February.
A significant share of the world’s oil comes from the Middle East. Missile strikes and drone attacks have meant traffic through the Strait of Hormuz, a critical maritime shipping route for global oil supplies, is effectively at a standstill. This is driving up fuel prices worldwide.
While not quite at the extremes of 2022 yet, the instability of what might be in store and further fuel price rises is driving people to consider EVs.
Autotrader saw a 28% jump in EV enquiries this month compared to February, while used (0-5yr) EV enquiries were up 15%. According to its data, used EVs are now taking 19.5% of all 0-5yr used car enquiries – the highest share on record, with...