Oil Price Shock Drives 140% Surge in China's EV Exports to Record High
Why it matters: China's EV exporters will ship 349,000 vehicles in March, reshaping global auto supply chains.
- China Passenger Car Association reports a 140% jump to 349,000 EV exports in March, the highest monthly total on record (Bloomberg).
- BYD sees its popular Sealion 7 and Atto 2 models’ wait times expand to 2‑3 months from weeks, reflecting soaring demand in Australia (Australian Financial Review).
- Autotrader notes a sharp rise in new and used EV leads in the UK after the Iran‑Israel conflict began, with used‑EV enquiries hitting record levels (Ian Plummer, Chief Customer Officer).
- Morgan Stanley predicts sustained US EV sales only after six consecutive months of high gasoline prices, despite current $4‑plus per gallon pumps.
A Middle‑East oil price shock pushed gasoline above $100 a barrel, sparking a global rush to electric cars. China’s EV shipments surged 140% in March to a record 349,000 units, while waiting lists and online enquiries spiked across Australia, the UK and the US.
