Used EV sales surge as rising fuel costs send demand skyrocketing

Europe-wide interest in used EVs has surged, particularly in Germany. On mobile.de, the share of search queries for electric cars has climbed from 12% to 36% since the beginning of March. Dealers also report receiving 66% more inquiries for used electric cars compared to February. The timing suggests that prospective buyers are recalculating, primarily due to the rising running costs of petrol and diesel vehicles.

Since February 28, the war in Iran has strained a vital oil route through which approximately 20% of the world's oil is transported. According to EU data, the average price of petrol in the European Union has risen by 12% to €1.84 per liter within a very short period. Industry representatives note that this price hike has noticeably accelerated the EV market, as confirmed by data from the British analysis firm Marketcheck, among others.

France, Scandinavia, and Eastern Europe also report growing interest in EVs. In France, the online used car dealer Aramisauto, majority-owned by Stellantis, has reported a significant uptick. The proportion of electric cars sold there has risen from 6.5% to 12.7% in just a few weeks. At the same time, petrol and diesel cars have lost ground.

The same trend is reported by OLX, an international classifieds platform, which has recorded a significant increase in EV inquiries. Users in France, Poland, and Portugal, among others, have recently shown heightened interest. Demand and sales are also rising in Scandinavia. In Norway, used electric cars are now even outselling diesel models, according to the Finn.no platform.