KATHMANDU: Global electric vehicle sales recorded growth for the first time this year in March, driven by rising petrol prices, according to data from Benchmark Mineral Intelligence, as reported by Reuters.
Global registrations of battery-electric and plug-in hybrid vehicles increased by 3 percent year-on-year to over 1.7 million units. Registrations are considered a proxy for actual vehicle sales.
Europe led the growth, with EV registrations rising 37 percent to nearly 540,000 units, marking a monthly record. Higher fuel prices across the region played a key role in pushing buyers towards electric mobility.
The surge in petrol prices followed disruptions in global oil supply after the Iran conflict in February 2026, which affected a major shipping route responsible for around 20 percent of global oil movement. Governments in several countries responded by capping fuel prices to limit the impact on consumers.
EV demand also increased in smaller markets. Countries including Australia, New Zealand, Vietnam, and Thailand recorded strong growth, contributing to a 79 percent rise in EV registrations outside major markets such as China, Europe, and North America.
In contrast, key markets reported a decline. EV registrations in China dropped by 14 percent, while North America saw a 30 percent decrease during the same period.
