{"id":31780,"date":"2026-05-28T08:23:08","date_gmt":"2026-05-28T08:23:08","guid":{"rendered":"https:\/\/www.evolutionfunding.com\/public\/?page_id=31780"},"modified":"2026-07-08T07:10:07","modified_gmt":"2026-07-08T07:10:07","slug":"are-rising-fuel-costs-driving-more-ev-demand","status":"publish","type":"page","link":"https:\/\/www.evolutionfunding.com\/public\/ev-support-hub-for-dealers\/are-rising-fuel-costs-driving-more-ev-demand\/","title":{"rendered":"Are Rising Fuel Costs Driving More EV Demand"},"content":{"rendered":"\t\t
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Are rising fuel costs driving more EV demand?<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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\n\t\t\t\t\t\t\t\t\tMarch and April saw fuel prices rise sharply across the UK. During the same time period, used electric vehicles accounted for 9% of all our 2026 vehicle finance proposals.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\tThis was a 39% increase <\/strong>compared to January and February this year – suggesting more customers may be reconsidering EVs as fuel costs continue to rise.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t
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All data correct as of May 2026<\/em><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t

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How fuel costs have been rising<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
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Fuel prices continued to climb throughout early 2026, with average UK unleaded petrol prices rising from 132p per litre in January to 165p by April.<\/p>

As fuel costs increase, our data suggests more customers may be reconsidering EVs as a lower-cost alternative to petrol and diesel vehicles.<\/p>

Source: rac.co.uk\/drive\/fuel-watch\/<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t

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January 2026<\/div>\t\t\t
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February 2026<\/div>\t\t\t
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March 2026<\/div>\t\t\t
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April 2026<\/div>\t\t\t
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But the strongest-performing EVs are changing<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
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Our 2025 EV data showed that customers were choosing more established models like the Tesla Model 3, Nissan Leaf and BMW i3, with average vehicle ages ranging between 20-42\u00a0months.<\/strong><\/p>

Today, the electric vehicle sweet spot looks a bit different.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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\n\t\t\t\t\t\t\t\t\tGWM ORA Funky Cat Hatchback\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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61.9%<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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\n\t\t\t\t\t\t\t\t\tVehicle Age (months)\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t
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14<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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\n\t\t\t\t\t\t\t\t\tVolvo C4 Estate\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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\n\t\t\t\t\t\t\t\t\tConversion\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t
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51.7%<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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\n\t\t\t\t\t\t\t\t\tVehicle Age (months)\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t
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18<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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\n\t\t\t\t\t\t\t\t\tBYD Atto 3 Hatchback\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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\n\t\t\t\t\t\t\t\t\tConversion\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t
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42.9%<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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16<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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\n\t\t\t\t\t\t\t\t\tPolestar 2 Fastback\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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\n\t\t\t\t\t\t\t\t\tConversion\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t
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40.9%<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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22<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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\n\t\t\t\t\t\t\t\t\tMINI Electric Hatchback\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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\n\t\t\t\t\t\t\t\t\tConversion\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t
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40.2%<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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26<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\tModels like BYD, Polestar and GWM ORA are only now starting to enter the nearly-new market, giving customers access to newer EV technology without the cost of buying brand new.\t\t\t\t\t\t\t\t<\/div>\n\t\t
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What this means for dealers<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
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Customers don\u2019t just seem to be looking for the cheapest EV anymore. They\u2019re paying closer attention to range, technology and battery confidence too.<\/p>

Our strongest-converting EVs in 2026 are consistently between 14\u201326 months old, suggesting nearly-new stock is currently hitting the sweet spot between affordability and modern EV technology. Customers can access newer features, improved range and more confidence in battery performance, without the cost of buying brand new.<\/p>

For dealers, that could create an opportunity to stock newer-generation EVs before competition in the used market increases further.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Frequently asked questions<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\tAre rising fuel costs increasing demand for electric vehicles?<\/span>\t\t\t\t\t<\/div>\n\t\t\t\t\t
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Our 2026 EV finance data suggests they could be. Between January\u2013February and March\u2013April 2026, used EV proposals increased by 39% at the same time UK petrol prices rose from 132p to 165p per litre. As fuel costs rise, more customers may be reassessing the long-term cost of running petrol and diesel vehicles.<\/p><\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\tWhat type of used EVs are customers choosing in 2026?<\/span>\t\t\t\t\t<\/div>\n\t\t\t\t\t
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The strongest-performing EVs in our data are consistently between 14\u201326 months old. These nearly-new vehicles appear to offer the balance many customers are looking for between affordability, modern technology and improved battery range.<\/p><\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\tAre customers still choosing older EV models like the Nissan Leaf and BMW i3?<\/span>\t\t\t\t\t<\/div>\n\t\t\t\t\t
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Established EVs like the Tesla Model 3, Nissan Leaf and BMW i3 performed strongly in 2025, but customer demand is now shifting towards newer-generation EVs entering the used market. Brands like BYD, Polestar and GWM ORA are increasingly appearing in our finance proposals as customers look for newer technology without paying brand-new prices.<\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\tWhy are nearly-new electric vehicles becoming more popular?<\/span>\t\t\t\t\t<\/div>\n\t\t\t\t\t
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Nearly-new EVs often give customers access to better range, newer onboard technology and greater confidence in battery performance, while still being significantly cheaper than buying new. That combination appears to be resonating strongly with today\u2019s used EV buyer.<\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\tAre customers only choosing EVs because they\u2019re cheaper to run?<\/span>\t\t\t\t\t<\/div>\n\t\t\t\t\t
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Lower running costs are clearly part of the conversation, especially as fuel prices rise, but customers also appear to be paying closer attention to range, technology and overall practicality when choosing an EV.<\/p><\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Supporting your EV strategy<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\tWith the cost of fuel shooting up, dealers need to be prepared for more customers asking about EVs. That’s why we’re here to help.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\tGet in touch to learn how we can support your EV journey.\t\t\t\t\t\t\t\t<\/div>\n\t\t
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\n\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\tTalk to us<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\tGet started<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Are rising fuel costs driving more EV demand? March and April saw fuel prices rise sharply across the UK. During the same time period, used electric vehicles accounted for 9% of all our 2026 vehicle finance proposals.This was a 39% increase compared to January and February this year – suggesting more customers may be reconsidering […]<\/p>\n","protected":false},"author":3,"featured_media":25409,"parent":27392,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-31780","page","type-page","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"\nAre Rising Fuel Costs Driving More EV Demand?<\/title>\n<meta name=\"description\" content=\"Discover how rising fuel costs are driving EV demand, with real finance data and practical guidance for automotive retailers.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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