Fuel Price Shock Drives Surge in Demand for Used EVs

Rising petrol and diesel prices have sparked an unexpected jump in interest for electric vehicles, particularly second-hand models. Enquiries for used EVs have more than doubled since fuel costs began climbing, as drivers look for ways to cut expenses at the pump.

According to Pickles, searches for electric cars on their platform jumped 111% in the three weeks leading up to March 21. Brendon Green, general manager of Pickles Automotive Solutions, noted that customer interest in EVs soared in the second week of March, with nearly twice as many people adding them to their wish lists.

“This kind of surge was a surprise,” Green said. “While EV interest has been steadily increasing, this spike is a sharp acceleration.”

The growing demand isn’t limited to second-hand cars. Green explained that even new electric vehicles, some still in transit to Australia, are seeing heightened attention.

James Pickering, president of the Australian Electric Vehicle Association, emphasized that this surge could help free up fuel for sectors where decarbonization is more challenging. He also noted that while March sales figures will show part of the trend, its full impact may become clearer in April.

“EVs are crucial for energy security, and this spike reflects broader concerns about fuel availability and energy stability,” Pickering said.

The recent trend follows a record-setting month in which electric vehicles accounted for 11.8% of new car sales, highlighting their growing role in Australia’s transport landscape.