Overview
- New data released Monday by New Automotive and E‑Mobility Europe shows March battery‑electric registrations up 51% year over year to more than 224,000 across 15 EU and EFTA markets, lifting EVs to about 22% of new sales and putting Q1 growth near 29%.
- Trade groups say the surge strengthens energy security, with more than 500,000 EVs registered in Q1 estimated to displace roughly 2 million barrels of oil demand per year.
- Chinese automakers are moving to meet the spike, with the China Association of Automobile Manufacturers reporting March new‑energy vehicle exports up about 130% to roughly 371,000 units, boosting brands like BYD, Chery and MG overseas.
- Australia’s buyers are chasing lower‑cost options as used EV sales more than doubled from February to March to 7,557, and auction house Pickles reports a 35% month‑on‑month jump in prices for repairable electric cars.
- The rebound is uneven worldwide as global BEV sales fell about 3% in Q1, with U.S. sales down roughly 27% after incentive rollbacks and canceled models left fewer choices for shoppers.