18-June-2026
Corporate News
 
Iran War Fuel Spikes Lift Europe's EV Sales Again, but Growth May Not Last
18-Jun-2026

Rising fuel prices driven by the Iran war are boosting demand for new and used electric vehicles across Europe, industry data shared with Reuters shows, though some executives warn interest could fade if petrol costs fall. Industry experts say improvements in charging infrastructure and a wave of more affordable models - including from Chinese automakers - are helping make EVs more mainstream, supporting demand. The U.S. and Iran have agreed to an extended ceasefire, but shipping disruptions mean oil flows through the Strait of Hormuz may take weeks to normalise, with fuel prices likely to remain elevated for months. Data provided to Reuters by research group New Automotive and industry group E-Mobility Europe show new EV registrations rose 34% year-on-year in May across 17 markets covering more than 90% of European Union and European Free Trade Association car sales. Fully electric models accounted for almost one in four new registrations in those markets.

News Source:- https://money.usnews.com/investing/news/articles/2026-06-18/iran-war-fuel-spikes-lift-europes-ev-sales-again-but-growth-may-not-last