ELECTRIC CAR SALES HIT RECORD HIGH AS PETROL PRICES SOAR
Drivers bought a record number of electric vehicles (EVs) last month as war in Iran sent fuel prices soaring.
The number of EV registrations hit 86,120 in March, according to the Society of Motor Manufacturers and Traders (SMMT), up from 69,313 a year earlier. The March total is the highest ever monthly figure.
The increase came as petrol and diesel fuel prices jumped by a record amount last month, as the Iran conflict convulsed global oil supplies.
Against this backdrop, more drivers have been searching for information online about EVs because of their lower running costs, separate data showed.
Google searches for “electric car” and “electric vehicle” rose by 17.5pc between February and March, consultancy New Automotive said.
The price of unleaded petrol rose by 20p while diesel rose by 40p over the same time period. The jumps exceed previous records set during the Ukraine crisis in 2022, according to the RAC.
It meant the difference between the cost of fully charging an EV and fuelling a petrol or diesel car grew dramatically.
A Tesla Model 3 costs about £3.30 to charge at home when using a so-called smart electricity tariff while a petrol equivalent, such as a BMW 3 Series 320i, costs more than £90 to fill up at a fuel station.
Ian Plummer, of Autotrader, said interest had “picked up sharply as fuel prices rise”, with the company experiencing the equivalent of one new EV enquiry every minute online.
He added: “If that online intent converts into sales, progress will follow.
“With a wave of new models, deeper discounts and lower running costs, more buyers are starting to see EVs as a way to take control of their energy costs.
“The market may well be fast approaching an EV affordability tipping point.”
Jamie Hamilton, a car industry expert at Deloitte, said: “With uncertainty around the cost of fuel, electric vehicle enquiries are on the up as consumers look to electric as an attractive alternative to petrol and diesel vehicles.”
The SMMT said on Tuesday that the new car market in March had also reached 380,627 vehicles, the highest number of monthly registrations overall since 2019.
Petrol and diesel car sales fell by 6.1pc and 11.4pc respectively, while sales of plug-in hybrids jumped by almost 50pc to 78,666.
The SMMT played down the jump in EV sales, saying “much of March’s performance will be from orders placed before the start of the Iran conflict”.
Real demand for electric cars was also getting “further away” from government targets, which remained far higher than sales, it said.
Under the so-called zero-emission vehicle (ZEV) mandate, 33pc of cars sold this year must be electric – although manufacturers can take advantage of various “flexibilities” to reduce this in practice.
EVs’ market share for the first three months of this year was 23pc.
Mike Hawes, the chief executive of the SMMT, said: “The strongest new car market since 2019, with the highest-ever volume of EV registrations, is a boost to the industry and the economy.
“However, the headlines belie the costs incurred and the challenges involved.”
He claimed EV sales were still being propped up by “record levels” of discounting by carmakers and called for “an urgent review” of government targets.
Ministers have pledged to look at the ZEV mandate again this year.
The annual targets are currently due to increase each year before reaching 80pc by 2030, when a ban on selling new full petrol and diesel cars will also come into force.
2026-04-07T10:40:18Z