Fuel shortage in Ukraine provokes a boom in demand for electric cars

19 May, 06:10 PM
Electric cars in Ukraine are in great demand (Photo:macor/Depositphotos)

Electric cars in Ukraine are in great demand (Photo:macor/Depositphotos)

Queues at the country’s gas stations and rising fuel prices have made Ukrainians more interested in electric cars, with experts saying that demand for them has increased by 15 times.

Russia's war against Ukraine - the main events of May 19

According to experts, gasoline and diesel at gas stations are about to reappear in the country. But the problems will not end there, as the deficit is to be overcome by suspending state regulation of fuel prices. This means that drivers of cars with internal combustion engines will have to spend more money on fuel.

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But many foresaw the shortage of fuel during the war in advance, and therefore became interested in electric cars. This applies to both new and used electric cars. In the latter segment, demand has increased as much as 15 times, the head of the OLX.Auto advertising service Andriy Kotsyna said to LIGA.

The boom is quite understandable, since used cars are a great alternative to the expensive salon option. Ukrainians are most interested in models priced at $5,000-6,000, but such options are selling like hotcakes. In general, the minimum price of a used electric car in Ukraine is now $8,000-10,000.

The market has already responded to the increase in demand, hastening to provide buyers with more offers. Despite the Ukrainian ports being blocked by the Russians, there are no problems with the supply of electric cars – American models are transported through Lithuanian ports, as before, and European ones through Ukraine's western borders.

“Over the past month and a half, OLX.Avto posted 1,900 ads for the sale of electric cars and 1,300 for the sale of hybrids, that is, about 1,000 car offers per month compared to 120 last year during this period,” Kotsyna says.

The new electric car market is also recovering. Some brands sell them even more of them than cars with internal combustion engines – for example, 70%of Volvo's sales now come from electric cars and plug-in hybrids.

Currently, the electric car market is experiencing a real boom after the March and April lull. In the future, sales of electric cars will certainly grow even more, because in addition to the environmental friendliness of this solution, electric cars can also boast of great cost-efficiency.

Even now, charging a car from a power outlet costs its owner ten times less than buying fuel. And in future, this difference will be even greater, as fuel prices are likely to rise.

In addition, the owners of electric cars don’t waste time and fray their nerveswaiting in line at gas stations.

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