Key Takeaways
- European petrol costs have climbed 12% since late February due to Middle East conflict, averaging €1.84/litre
- European used electric vehicle sales have jumped dramatically, with enquiries climbing over 50% in several markets
- Aramisauto in France saw EV sales share leap from 6.5% to 12.7% within three weeks
- German platform mobile.de witnessed EV searches surge from 12% to 36% during March
- Seven electric vehicle stocks attract investor focus: Tesla, Rivian, NIO, XPENG, Lucid, QuantumScape, and Li Auto
The Middle East conflict that erupted on February 28 has triggered a sharp increase in European fuel costs. This price surge is accelerating consumer interest in used electric vehicles while bringing EV-related stocks into sharper investor focus.
Data from the European Commission reveals that average EU petrol prices increased 12% from February 23 through March 16, climbing to €1.84 per litre. The military conflict has disrupted a critical shipping corridor responsible for approximately 20% of worldwide oil transport.
French motorists have experienced daily petrol prices rising from around €1.70 per litre in early 2026 to approximately €2.03 per litre by mid-March.
Used vehicle marketplaces throughout Europe have documented rapidly increasing electric vehicle demand. French platform Aramisauto reported that EVs grew from 6.5% to 12.7% of total sales between the week of February 16 and the week of March 9.
During this same timeframe, petrol-powered vehicle sales on the platform declined from 34% to 28%, while diesel vehicles dropped from 14% to 10%.
OLX, headquartered in Amsterdam, documented EV enquiry increases of 50% in France, 54% in Portugal, 40% in Romania, and 39% in Poland, with momentum building each week.
Northern European Markets Show Strong EV Interest
German automotive marketplace mobile.de observed EV searches triple from 12% to 36% of total vehicle searches since early March. Dealerships on the platform received 66% more enquiries for used electric vehicles compared to February levels.
Swedish platform Blocket documented an 11% rise in EV sales during the first two weeks of March versus the preceding fortnight. EV listing views climbed 17% across the same comparison period.
Norwegian marketplace Finn.no confirmed that electric vehicles have surpassed diesel as the platform’s top-selling fuel category. Danish site Bilbasen similarly reported climbing EV search activity, attributing the shift primarily to elevated petrol costs.
Used electric vehicles typically respond rapidly to fuel price increases because they sell for up to 40% less than new equivalents and offer immediate availability, unlike new vehicles that often require months-long delivery waits.
Electric Vehicle Stocks Capture Investor Interest
As European EV demand accelerates, MarketBeat’s stock screening tools have identified seven electric vehicle stocks showing the highest recent dollar trading volume within the sector.
Tesla engineers and markets electric vehicles and energy solutions throughout the United States, China, and additional global markets. The company also manages the Supercharger charging network and generates revenue from automotive regulatory credits.
Rivian Automotive produces electric trucks and SUVs, featuring the R1T pickup truck and the R1S seven-passenger SUV.
NIO produces and markets electric vehicles in China, alongside battery packs, electric powertrain components, and battery-swapping infrastructure.
XPENG develops smart electric vehicles in China, featuring the G3 and G9 SUVs and the P7 sedan, while providing charging infrastructure, financing options, and software solutions.
Lucid Group engineers and markets electric vehicles alongside proprietary EV powertrains, battery technologies, and internally developed software platforms for its vehicle lineup.
