Alastair Campbell from Marketcheck reports used EV sales jumped 36% between February and March as drivers respond to fuel price volatility from the Iran conflict.
Petrol and diesel costs have risen by almost 20% in recent weeks, pushing consumers toward the predictable charging costs that electric vehicles offer.
The data shows daily used EV sales climbing from 787 per day in February to 1,074 per day in March. Sales peaked at 1,657 on March 30.
“The jump in daily EV sales in March is notable, both in scale and speed,” Campbell said. “We saw a clear increase immediately after the end of February, with volumes rising well above recent averages.”
“While the used EV market has been growing steadily, this kind of acceleration points to external factors influencing buyer decisions. Concerns around fuel costs and wider uncertainty appear to be pushing more consumers towards electric vehicles.”
Running Costs Drive Consumer Decisions
Fuel prices have jumped 25p per litre for petrol and 49p per litre for diesel since the Iran conflict began. EV owners with home charging continue paying tariffs as low as 6.5p/kWh.
That translates to running costs under 2p per mile compared with more than 17p per mile for petrol cars.
Autotrader – the UK’s largest online car marketplace – confirmed the trend. March became the biggest month ever for EVs on the platform, with leads on used EVs up to five years old increasing 15% and accounting for almost 20% of all enquiries.
The site noted that rising fuel prices and global uncertainty have accelerated the shift to electric as drivers look to avoid higher running costs.
Octopus Electric Vehicles saw an 89% jump in leasing orders between February and March. While March typically brings increased orders with new registration plates, CEO Gurjeet Grewal said the change was still significant.
“An 89% jump in orders in a single month shows this isn’t a gradual shift anymore – it’s a tipping point,” Grewal said.
“People are looking for certainty and control over their costs. Electric vehicles offer both. With smart tariffs and simple leasing, drivers can take back control from unpredictable fuel prices.”
European Markets Show Similar Patterns
Germany’s mobile.de saw EV searches triple between the start and end of March – from 12% to 36% – while car dealers received 66% more enquiries for used EVs than in February.
Swedish platform Blocket reported an 11% increase in EV sales in the first two weeks of March versus the previous two weeks. Views of EV models increased 17%.
“We see a clear shift where more people are actively looking for more fuel-efficient alternatives,” Blocket’s car expert Marcin Stepman told Reuters.
Consumer research supports the sales data. A poll of 1,000 drivers by Electrifying found that 73% of non-EV drivers were now considering an electric car due to global oil price volatility.
Ginny Buckley, CEO of Electrifying.com, said the company’s seen a 50% surge in website traffic week-on-week since the US-Iran conflict began.
“With EV drivers paying just pennies per mile to charge at home, it’s no wonder volatile fuel prices are pushing people to rethink what they drive,” Buckley said. “That’s being reflected across the industry.”
