Europe’s Record EV Month: Policy and Oil Drive 37% March Surge
Europe recorded its first 500,000-plus EV month in March 2026, with sales up 37% year-on-year driven by Germany‘s €3 billion subsidy programme and oil prices above $100 per barrel following the Iran war. Chinese domestic EV sales fell 21% in Q1 as Europe became the global growth engine, but the durability of demand once subsidies and oil tailwinds fade remains uncertain.
