Overview
- New EV registrations across 17 major European markets jumped 34% year-on-year in May, driven by higher fuel costs and stronger buyer interest in fully electric models.
- U.S. used-EV transactions rose about 24.7% year-on-year in May while average resale prices climbed to roughly $37,083 and days’ supply tightened to about 31 days.
- Lower-cost Chinese models entering Europe, including recent small hatchbacks, are widening affordable new-EV choices and helping to mainstream electric ownership.
- Industry leaders warn the recent surge could fade if petrol prices fall after oil flows through the Strait of Hormuz normalize, and analysts note a coming wave of off-lease EVs that could ease price pressure.
- Consumers are benefiting from lower running costs and cheaper used-EV sticker prices today, but long-term uptake will hinge on fuel-price trends, charging access, and how new supply from off-lease returns and low-cost models reshapes availability.