Middle East conflict drives up fuel prices, surging demand for both new and used electric vehicles in Europe
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- Due to rising fuel prices caused by the Middle East conflict, demand for new and used electric vehicles in the European market continues to increase. Data from 17 markets representing more than 90% of sales in the EU and European Free Trade Area countries show that new electric vehicle registrations in May rose by 34% year-on-year.
- Demand for used electric vehicles is also strengthening. In France, interest in used electric vehicle models from China increased significantly, with the number of potential buyers in May tripling compared to the same period last year.
- Analysts expect that the price of used electric vehicles will increase by about 10% this year, and that growing demand will continue to drive this trend.
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