Soaring oil prices spark electric vehicle buying surge

Rising oil prices above $140 per barrel are driving significant changes in Australian car buying patterns, with battery electric vehicle sales jumping 42% in March to nearly 16,000 units. EVs now represent approximately 15% of new car sales, double the figure from a year ago, while insurance quotes and online searches for electric and hybrid vehicles have surged by 40-80% as consumers seek to reduce exposure to fuel price volatility.See omnystudio.com/listener for privacy information.