Overview
- New data released Monday show battery‑electric car registrations in key EU and EFTA markets rose 51% in March to more than 224,000, taking about a 22% share, with Q1 totals near 560,000 that analysts say could displace roughly 2 million barrels of oil a year.
- Growth broadened across major markets as Germany rebounded with new incentives, Italy’s EV share climbed to 8.6% after a 65% jump in registrations, and France reached a 28% March share helped by its social leasing program.
- Chinese brands gained ground as exports and dealer networks expanded in Europe, while contacts in parts of Southeast Asia and Australia reported inventory measured in single days and backorders for popular models.
- Australia’s secondary market heated up as used and repairable EV sales more than doubled from 3,176 in February to 7,557 in March, with salvage auctions reporting sharp price increases for fixable electric cars.
- The United States lagged the trend as Q1 EV sales fell about 27% year over year after model cancellations and tax‑credit changes, even as consumer interest rose with higher gasoline prices.