Used EV sales surge across Europe as Iran war spikes fuel prices

Thursday 26 March 2026 - 13:20

By: Dakir Madiha

Used EV sales surge across Europe as Iran war spikes fuel prices

Europeans rush toward used electric vehicles as Iran war-driven gasoline price spikes bite. Online car sales platforms report sharp demand increases continent-wide. Consumers seek cheaper, immediate EV alternatives amid fuel cost surges.

The conflict began February 28 with US and Israeli strikes on Iran. These disrupted the Strait of Hormuz, which handles about 20 percent of global oil supply. EU average gasoline prices rose 12 percent to 1.84 euros per liter from February 23 to March 16, per European Commission data cited by Reuters.

Consumers reacted swiftly. Norway's Finn.no, the largest used car platform, saw electric vehicles overtake diesel as the top-selling fuel type. Analyst Terje Dahlgren called it a "rush to electric cars."

In France, Stellantis-owned Aramisauto reported used EV sales share nearly doubling from 6.5 percent to 12.7 percent between mid-February and early March. "When gasoline tops 2 euros per liter, it leaves a lasting impression," CEO Romain Boscher told Reuters, comparing it to 2022 energy price spikes after Russia's Ukraine invasion.

Germany's mobile.de saw EV-related searches triple to 36 percent since early March. Dealer inquiries for used EVs rose 66 percent from February. Amsterdam-based Olx noted 50 percent inquiry jumps for EVs in France, 54 percent in Portugal, 40 percent in Romania, and 39 percent in Poland.

A Transport & Environment report shows Europe trails China by just three years in EV market share. Battery EV sales hit 19 percent in 2025. They could reach 23 percent in 2026 and 28 percent in 2027 if EU CO2 standards hold firm.

The report notes 8 million circulating EVs avoided 46 million oil barrels in 2025, saving 2.9 billion euros in import costs. With 2026 European oil imports projected over 300 billion euros, including an 80 billion euro war premium, electrification gains urgency.

Used EVs respond faster to crisis than new ones. They cost up to 40 percent less and offer instant availability versus new car delivery delays. Marketcheck VP Alastair Campbell told Reuters data shows "clear, sustained escalation" in used EV sales since conflict start. "We expect this momentum to continue as markets fully absorb recent global events' impact."