More car buyers appear to be considering EVs as gas prices continue to rise from the war in Iran, but it will take a few months to determine whether the conflict has a measurable impact on vehicle sales.
The details: A follow-up analysis by Edmunds indicates that while it’s too early to confirm a major shift in EV buying behavior, the data suggests higher gas prices could be “nudging” more shoppers to explore electrified options.
Electrified vehicle consideration (including hybrids, plug-in hybrids, and battery electric vehicles) reached 23.8% on Edmunds for the week of March 9-15, the highest weekly level so far in 2026.
That's up from 22.4% the previous week, and notably, the gain wasn't just hybrid-driven.
Per the report: “Most of that increase was driven by growing shopper interest in battery electric vehicles, which saw the largest gain among electrified powertrains during this time period."
By comparison, an Edmunds report for the week starting March 2 found electrified vehicles accounted for 22.4% of all vehicle research on its platform, up from 20.7% the previous week.
Still, any uptick in EV consideration is tempered by the reality of slowing EV purchases overall, with BEV lease penetration falling to 46.7% in February, the lowest level since June 2023, as shoppers weigh other factors such as vehicle pricing, inflation, and the broader economy.
What they’re saying: "High gas prices combined with elevated interest rates are a tough one-two punch for car shoppers,” said Jessica Caldwell, Head of Insights at Edmunds, per an emailed press statement...
OUTSMART THE CAR MARKET IN 5 MINUTES A WEEK
Get insights trusted by 55,000+ car dealers. Free, fast, and built for automotive leaders.
Why it matters: This is an early signal to watch shopper behavior more closely, not a reason to expect an immediate sales shift.
Rising fuel prices may drive more interest in EVs, but affordability concerns are likely to keep many buyers cautious, making inventory mix, payment-focused messaging, and fuel-savings conversations especially important on the showroom floor.
Zooming in: GM CFO Paul Jacobson said the automaker has not yet seen a major sales impact from the war in Iran and higher gas prices, Reuters reported.
He said lower inventory, especially of trucks, as GM prepares to launch new full-size models, and weather affected its first-quarter sales more than other factors.
Looking ahead: A report by S&P Global indicates that over the longer term, the war could raise vehicle manufacturing costs and, likely, prices, although those increases may not appear immediately.
"Usually it takes four to six months of sustained high oil prices before people start to think, 'Maybe I should go for less mileage, or maybe I should buy down,' I don't think we see that," said Jacobson, speaking at a Bank of America Conference.
Bottom line: Dealers may see more shoppers cross-shopping electrified models in the near term, but not necessarily a fast jump in EV sales, underscoring the importance of meeting rising interest in fuel-efficient vehicles while preparing for the possibility that higher production costs and pricing pressure could affect demand later in the year.
A quick word from our partner
Meet LotGPT, your AI Inventory Strategist built exclusively for car dealers.
Fluent in your dealership, your market, and your inventory, LotGPT analyzes live inventory, real-time market supply, and shopper demand to surface risk and opportunity - VIN by VIN.
It reveals competitive insights, shopper behavior, and pricing dynamics, and even flags underperforming VDPs with merchandising recommendations to help boost conversion without cutting price.
