10:45 am, October 1, 2026
Soaring fuel prices are resulting in more motorists considering making the switch to electric cars – but specialist EV dealers say they are increasingly reluctant to take their diesels in part-exchange.
Yesterday, Autotrader told Car Dealer that it had seen used electric enquiries now accounting for one-in-four of all leads sent to dealers in September.
Along with increased leads, used diesels were taking nearly a week longer to shift from dealer forecourts at an average of 34 days to sell – three days slower than a year ago.
Now, Car Dealer has spoken to three EV specialists who all said they had seen a spike in interest in electric cars since the outbreak of the war in the Middle East, with one saying they are declining diesel part-exchanges rather than risk being left with unwanted stock.
Richard Symons, of EV specialist R Symons, said his business had been ‘very busy’ this week but had noticed a particularly sharp rise in the number of customers trying to trade in diesels.
He told Car Dealer: ‘We have been very busy this week especially, but the trouble is we have had a LOT of people asking to part exchange their diesels this week – that’s been very noticeable.
‘We don’t want them either, so I’m afraid we are simply saying we cannot accommodate their part-exchange request at this time. There is no point us even pricing them up.’
Symons added: ‘If we took them all we would be stuck with a warehouse full of diesels, so in the nicest possible way are having to simply decline.
‘They will have to sell on Motorway, Carwow, We Buy A Car instead. Prices there seem to be plummeting too of course, as demand falls further and stock increases.’
Fuel prices giving buyers the ‘final nudge’
Richard Norris, founder of used EV specialist Drive Green, has seen a similar jump in demand.
He says enquiries began rising after the conflict in the Middle East started and have accelerated further as fuel prices passed £2 per litre.
‘Since the war in the Middle East began demand has increased notably, and right now, as prices have gone over £2 per litre. As the cost of fuel is getting so much media coverage, demand [for EVs] is incredibly high,’ he told Car Dealer.
Norris said many customers were already considering an EV but the increase in running costs had brought their purchase forward.
‘The cost of fuel is regularly mentioned by our customers for the reason they have finally decided to make the switch,’ he said.
‘Naturally a lot of our customers were already planning to buy an EV for their next car, and this has just given them the final nudge to do it sooner rather than later.
‘But also there are lots of customers who previously had little intention of making the switch anytime soon, who have now been encouraged to do so by the cost of fuel.’
Norris expects the impact to continue even if fuel prices eventually begin to fall.
‘I feel confident that demand is going to remain strong for the rest of the year and probably beyond,’ he said.
‘The situation in the Middle East is set to continue, plus even if the war ended soon, it will take quite some time before prices fall back down.
‘And even when things are all over, the echos of this will continue for quite some time, and will sustain demand for some time to come yet.’
EV Experts’ Estelle Miller
EV margins under pressure as trade prices rise
Strong retail demand is not necessarily translating into easy profits for dealers, however.
Norris said competition for used EV stock has intensified at trade level, pushing up acquisition costs and squeezing margins.
He added: ‘However, demand is only part of the picture for dealers trying to take advantage of this surge towards EV, as margins are under great pressure as trade demand has similarly gone through the roof, so making money selling EVs is not without challenges still.’
Estelle Miller, of EV Experts, has also seen fuel costs crop up increasingly frequently in conversations with customers.
Asked whether higher pump prices were driving EV demand, she told Car Dealer: ‘The short answer is YES! Lots of people are very stressed about the price of diesel on the forecourt with it cropping up in most conversations.
‘The other thing we have seen in the last couple of weeks is customers shocked about how much their diesels have dropped in value and this is affecting their next car aspirations.’
Miller said there had been a noticeable change in the types of cars customers were trading in.
Previously, buyers would often swap a petrol car for an EV while retaining a diesel for longer journeys.
That behaviour has shifted significantly in recent months.
‘There has been a marked change in this behaviour since early summer, which is directly attributable to the price of diesel going up and the realisation that EVs can go the distance with a rapid charging network around the UK that is extensive and easily accessible,’ she said.
‘In September, most of our part exchanges were diesels although conversations have been difficult with these buyers particularly if they first enquired in the summer.
‘Since then their diesels have plummeted in value whilst the EVs they liked have higher pricetags.’
Unlike Norris, Miller believes the current shortage of desirable used EV stock means dealers have an opportunity to protect – and potentially improve – their margins.
She added: ‘Supply of used EVs is still short and dealers should look carefully at their pricing and check they are enjoying the margins achievable in these market conditions – make hay while the sun shines!’