Interest in EVs rose globally in March 2026 amid higher fuel prices due to the ongoing conflict in the Middle East and the closure of the Strait of Hormuz. A significant number of markets around the world experienced greater EV sales growth after the conflict broke out than before. Sales of passenger car and light duty EVs in Europe were up 33% year-on-year in March, having grown just 19% year-on-year in the first two months of the year.
China-created EVs have been a major driver of rising global demand and have benefited the most from the surge, with sales in Europe increasing 78% year-on-year in March, up from 39% growth recorded over the first two months of the year. Translating to a boost in their European EV market share, which rose from 20% in January and February to 24% in March.
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