Used EV Sales Rally in Europe as Iran War Keeps Oil Prices High — Best EV Stocks to Watch

TLDR

• The Iran war has pushed EU petrol prices up 12% since late February, hitting €1.84/litre on average
• Used EV sales have surged across Europe, with some markets seeing enquiries rise over 50%
• France’s Aramisauto nearly doubled its EV sales share in three weeks, from 6.5% to 12.7%
• Germany’s mobile.de reports EV searches tripled in March, from 12% to 36% of all searches
• MarketBeat flags seven EV stocks to watch: Tesla, Rivian, NIO, XPENG, Lucid, QuantumScape, and Li Auto

The war in Iran, which began on February 28, has sent petrol prices sharply higher across Europe. That price shock is pushing more consumers toward used electric vehicles — and putting EV stocks back in focus for investors.

European Commission data shows the average cost of petrol in the EU rose 12% between February 23 and March 16, reaching €1.84 per litre. The conflict disrupted a shipping route that carries around 20% of global oil supplies.

In France, daily petrol prices climbed from roughly €1.70 per litre in early 2026 to about €2.03 per litre by mid-March.

Used car platforms across Europe have reported fast-rising demand for EVs. France’s Aramisauto said its EV share of sales nearly doubled — from 6.5% to 12.7% — between the week of February 16 and the week of March 9.

Over the same period, petrol car sales on the platform fell from 34% to 28%, and diesel dropped from 14% to 10%.

Amsterdam-based OLX reported EV enquiries jumped 50% in France, 54% in Portugal, 40% in Romania, and 39% in Poland, with growth accelerating week over week.

EV Demand Jumps Across Northern Europe

In Germany, mobile.de said EV searches tripled from 12% to 36% of all car searches since the start of March. Car dealers also received 66% more enquiries for used EVs compared to February.

In Sweden, Blocket reported EV sales rose 11% in the first two weeks of March versus the prior two weeks. Views of EV listings increased 17% over the same period.

Norway’s Finn.no said EVs have overtaken diesel as the platform’s best-selling fuel type. Denmark’s Bilbasen also reported rising EV searches, with higher petrol prices named as the main driver.

Used EVs tend to react quickly to fuel price spikes because they cost up to 40% less than new models and are available immediately, unlike new cars that can take months to deliver.

EV Stocks Drawing Attention From Investors

With EV demand rising in Europe, MarketBeat’s stock screener has flagged seven EV-related stocks with the highest recent dollar trading volume in the sector.

Tesla designs and sells EVs and energy systems across the US, China, and other markets. It also operates the Supercharger network and sells automotive regulatory credits.

Tesla, Inc., TSLA

Rivian Automotive builds electric trucks and SUVs, including the R1T pickup and the R1S seven-passenger SUV.

NIO manufactures and sells EVs in China, along with battery packs, e-powertrain components, and battery-swapping services.

NIO Inc., NIO

XPENG makes smart EVs in China, including the G3 and G9 SUVs and the P7 sedan, and offers charging, financing, and software services.

Lucid Group designs and sells EVs along with proprietary EV powertrains, battery systems, and in-house software for its vehicles.

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