Sales of new cars jumped last month in the European Union as consumers turned to electric vehicles as petrol prices soared due to the war in the Middle East, data showed Thursday.
Overall sales rose 12.5 per cent in March from the same month last year to 1.16 million vehicles, according to registration data from the European Automobile Manufacturers’ Association (ACEA).
That jump helped the market attain a four per cent rise for the first quarter overall following declines in January and February.
Sales of fully electric vehicles soared by 49 per cent, with plug-in hybrids also jumping 20 per cent.
Over the first quarter, hybrids were the top choice of European consumers, accounting for 37 per cent of overall sales.
Plug-in hybrids accounted for another 10 per cent of market share.
READ ALSO: Tesla Reports Higher Profits, Confirms Hefty Spending Ahead
The market share of simple petrol motor vehicles slumped to 23 per cent in the quarter, down from 28 per cent a year earlier.
Fully electric vehicles accounted for just over 19 per cent of overall sales.
The ACEA noted the sales performance of electric vehicles varied strongly by country, with Italy, France, and Germany posting strong gains.
Petrol prices spiked throughout Europe after the United States and Israel attacked Iran on February 28, resulting in a near block on oil exports from the Gulf and leading Iran to retaliate by attacking energy facilities throughout the region.
READ ALSO: Eurozone Business Activity Falls On Mideast War
Meanwhile, sales in Belgium and the Netherlands fell.
