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Transportation

Surging EV Interest Due To Rising Gas Prices From Iran Conflict

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Automotive retail analyst and EV authority Justin Fischer notes early data from CarEdge showing EV sales are trending up, but not yet to the extent that search volume has. Although searches for electric models are up 20% on CarEdge Car Search, the latest data on EV sales suggests that new EV sales are up 18% (excluding direct-to-consumer brands Tesla, Rivian, and Lucid), and used EV sales across all makes and models is up 10%. We’ll have a clearer picture in early April when March sales data arrives.

Data For the Post-Iran War Market

CarEdge estimates new and used car sales in the most recent 45-day window by tracking when listings appear and disappear from dealership websites. With the oil price spike beginning just over two weeks ago, only part of the latest data reflects the post-Iran War market.



This quick turnaround in the EV market comes right after several legacy automakers announced billions of dollars in write downs for failed EV investments. Ford, General Motors, Honda, and others have all canceled models and backtracked on future plans for electrification. One exception is Toyota. Toyota played the long game, having delayed the rollout of their EV lineup until years after the competition. In 2026, Toyota unveiled three new EVs with competitive pricing and specs. Toyota also leads in hybrid sales, and recently made the best-selling RAV4 and Camry exclusively hybrid-powered.

With fuel costs now front of mind for consumers, it looks like yet again Toyota’s corporate strategy was a smart move.

Why does this matter?

These negative headlines and model cancellations create consumer hesitancy. EV shoppers are thinking twice about buying a soon-to-be discontinued electric model. This could benefit the likes of Tesla, Rivian, and Lucid, whose all-EV strategy is seen as a safer alternative. With Tesla’s extensive Supercharger network and Rivian’s launch of the more affordable R2 this spring, we may see a more pronounced bump in sales for these OEMs.

May 2022- Canada gas prices surged to all time high. Will prices continue to rise and surpass the record?



The headlines are full of “surging EV interest” due to the Iran conflict, but there is a massive data gap between search interest and actual showroom sales. While gas prices have shot up nearly $1.00 usd per gallon in a month (37.4 cents cad per liter in a month) , internal data shows that January EV sales were actually down 30% year-over-year. We are at a critical “reinvention cycle” where consumers are weighing $5.00usd/gallon diesel against a new $55,000 usd EV.

Interesting Choices

  • The Hybrid “First Responders”: Shoppers are flocking to hybrids like the Toyota RAV4 and Honda CR-V first, viewing them as a “hedge” against both gas spikes and EV charging anxiety.
  • The $2,700 Math: A jump to $4.50/gallon (already a reality in California/Oregon) adds $750 to the annual cost of a standard SUV , effectively wiping out the “savings” of recent gas-vehicle incentives.
  • The 0% APR Battle: Automakers are currently offering 0% financing on EVs (like the 2026 Tesla Model Y) to prevent inventory from rotting on lots, and how long those deals will last if gas stays high
  • Used EV “Sweet Spot”: The real surge isn’t in new EVs, but in the used $25,000 market where buyers can actually see an immediate ROI on fuel savings.

For the Silo, Justin Fischer.

Transportation

Porsche Commit Long Term To Gasoline Engines

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Change of Plans

There was a time, not terribly long ago, when it seemed like the automotive industry was on the fast track to total electrification.

Ahead of Their Time

Many of us think of hybrid or all-electric power as a relatively new technology. After all, Porsche just introduced its very first production EV, the Taycan. But in reality, electricity has been around in the automotive world for over a century. And Ferdinand Porsche was one of very first pioneers to embrace this technology. When Porsche was a teenager back in 1893, he installed an electric lighting system in his parents’ house. Even the very first vehicles he designed had electric drives. After toying around with a few different ideas, Porsche designed the world’s first functional hybrid car, the Semper Vivus (Latin for “always alive”), in 1900. But due to its modest power output, heavyweight, and lack of infrastructure, the idea was relegated to the back burner for many years. 

Amid concerns over global warming, governments around the globe began floating regulations that sought to ban ICE vehicles outright – but in recent months, with demand falling behind expected levels of growth, a lot has changed, and now, those same plans are being scaled back.

Up To and Beyond

While Porsche recently revealed that it continues to develop the all-electric version of its Cayenne crossover, it also plans to continue to offer hybrid and combustion engine-powered examples of that same model – “up to and beyond 2030,” in fact.

Keeping the V8

Interestingly, Porsche also noted that the currently, third generation of the Cayenne will be upgraded and will continue to be offered alongside the fourth, all-electric generation model. Engineers will focus on the Cayenne’s ICE powertrains, however, including its twin-turbocharged V8, which it will need to tweak to ensure that it meets increasingly stringent emissions standards.

Still Focused

This is obviously great news for fans of ICE powertrains and the V8 in general, but also note that Porsche remains focused on an electrified future, regardless. “Our product strategy could enable us to deliver more than 80 percent of our new cars fully electrified in 2030 – depending on the demand of our customers and the development of electromobility in the regions of the world.” Oliver Blume CEO Porsche AG.

As such, Porsche plans to continue making gas engines for some time, it seems.