EV sales surged worldwide as consumers looked for alternatives to buffer from soaring global fuel prices.
India saw purchases jump 87% year-on-year in March, the UK saw a record number of EVs sold the same month, and US used-EV sales grew by 17% year-on-year during the first quarter. While the sales increases in some cases were aided by tax incentives and new emissions rules, the figures point to how global fleets are rapidly electrifying in response to the war in Iran.
Though analysts forecast the spike will cool, they argue the car market will nonetheless be permanently transformed: Electric car demand will settle at “a new, higher normal than we had before,” one expert told The Guardian.