Europe EV sales surge 51% as Iran war drives oil past $100
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European battery-electric vehicle registrations surged 51% in March 2026, reaching 22% of all new car sales across 14 EU and EFTA markets, driven by oil prices topping $100 a barrel following US and Israeli airstrikes on Iran. The Iran conflict has disrupted Strait of Hormuz shipping, threatening one-fifth of global oil supply. Chinese brands are the biggest beneficiaries: BYD enquiries on Carwow grew 25,000%, Leapmotor 436%, and Xpeng 153%. BYD's German registrations jumped 327%, partly filling the gap left by Tesla's collapsing European sales amid Elon Musk-linked boycotts. Traditional automakers like Renault and Volvo also reported strong EV upticks. Whether the momentum lasts beyond the oil shock remains uncertain, though improved charging infrastructure, cheaper Chinese EVs, and tightening EU emissions rules in 2027 suggest more structural staying power than previous spikes.
