At a glance:
- Rising fuel prices linked to Iran conflict boost interest in EVs in March
- Dealer Auction sees a 78% sales increase for EVs
- The average retail margin for alternative fuel vehicles (AFVs) rises to one of the highest monthly figures recorded on the platform
- Tesla Model X tops CAP Clean performance for March and Q1 2026
- All-electric Jaguar I-PACE breaks into the top 10 for retail margin for the first time
The latest data from Dealer Auction’s EV Performance Report (EVPR) for March reveals a strong month for trade alternative fuel vehicles (AFVs). The average retail margin saw a substantial uplift, increasing from £2,829 in February to £3,320 in March – one of the highest monthly figures recorded on Dealer Auction. Even more encouraging are the quarterly numbers, which show a 26% lift in average margin for Q1 year-on-year.
March proved to be a particularly strong month for EVs, with their sales share rising by an impressive 78%. Despite remaining a small proportion of the overall sales share, buyer intent is clear.
Following recent news of significant UK investment in EV infrastructure and equipment, a further notable development has emerged: rising fuel prices linked to the ongoing Iran conflict appear to be accelerating consumer interest in EVs. In a roundup piece, The Independent cited figures from Octopus Electric Vehicles – which saw enquiries for EV leasing jump by 36% since the start of the conflict in the Middle East – and Autotrader, which saw new EV leads up 28% in less than a month and used EV enquiries rising by 15%.1 While some of the statistics clearly relate to new vehicles, it will be interesting to see how this filters down to used vehicles.
Dealer Auction Marketplace Director Kieran TeeBoon commented: “The increase in both interest and sales for EVs suggests that the Iran conflict – while a contributing factor – is not simply driving a short-term panic response. Instead, the data points to a shift in buyer behaviour, as consumers consider both the long-term transition to net zero and the immediate impact of rising fuel costs when choosing their next vehicle.”
Elsewhere on the Dealer Auction platform review, the average age of AFVs remained below five years, mirroring Q1 2026’s average of 4.9 years. Although the average increased slightly from 33,495 to 33,868 miles, it continues to reflect a clear preference for newer, lower-mileage vehicles.
Turning to model performance, March painted a more balanced picture after February’s hybrid-dominated charts. Notably, EVs secured three positions in the top 10 retail margin rankings: the Tesla Model X (third), Volkswagen ID.3 (sixth) and a first-time entry for the Jaguar I-PACE (ninth). The hybrid Volvo XC60 topped the retail margin charts for both the month and the quarter, demonstrating consistent performance.
The Tesla Model X proved competitively priced, leading the top 10 for CAP Clean performance, plus a standout profit margin. It also ranked as a top performer across the quarter. The electric Renault Scenic E-Tech secured fifth place for CAP Clean EVs and also performed well in terms of sales volume. The Nissan LEAF and Tesla Model Y ranked third and ninth respectively.
Overall, hybrids continued to dominate, with Lexus in particular enjoying a strong showing – with three models appearing in the CAP clean chart and two models in the retail margin top 10.
Across Q1, several standout models emerged. The hybrid Hyundai Tucson achieved the second-highest sales volume and secured a top 10 CAP performance position in March. The Tesla Model X maintained strong momentum, ranking in the top 10 for retail margin across the quarter, while the Volvo XC60 consistently led the retail margin charts.
TeeBoon concluded: “Data from both this month and across the first quarter highlights a strong foundation in the EV market, with growing interest increasingly converting into sales. It will be interesting to see how these patterns evolve in the coming months, particularly in light of ongoing geopolitical developments and continued growth in the AFV sector.”
Make sure to check out last month’s EV performance review for more insights.
Sources
1The Independent (2026). Electric car interest jumps as fuel prices soar. Available at: Fuel price fears push drivers towards EVs | The Independent (Accessed 7 April 2026).
About Dealer Auction
Dealer Auction is the UK’s leading digital remarketing platform. We give buyers and sellers more choice, better insight and greater margins. Dealer Auction is an independent company, created through a joint venture between Cox Automotive and Autotrader. For more information, visit www.dealerauction.co.uk.
Launched in May 2024, Dealer Auction’s EV Performance Review (EVPR) is a monthly feature that tracks the performance and trends of EV and hybrid vehicles on the UK’s leading digital remarketing platform.
