Europe EV Demand Surges as Oil Prices Top $100

New electric vehicle registrations in Europe rose 34 percent in April as oil prices climbed above $100 a barrel. The increase occurred even as many buyers had already committed to purchases before the latest price spike. Used EV sales moved faster than new ones in several markets.

Vehicles recorded a 95 percent jump in new EV demand and a 160 percent rise in used EV demand in a single month. Carwow reported that purchase inquiries for BYD vehicles grew 25,000 percent in the first quarter of 2026. Volkswagen's Seat and Cupra brands said EVs accounted for nearly 60 percent of orders in Germany, well above the company's 25 percent production quota.

Renault stated that half of its UK registrations in April were electric.

Manufacturers are now working to increase output after years of slower sales. The shift follows a period in which governments had offered subsidies to encourage EV adoption with limited immediate results. "War did what subsidies couldn't.