Car buyers found solace in electric vehicles during March amid the inflationary chaos of Donald Trump’s attacks on Iran and war in the Middle East, with the highest month ever recorded for EV sales. 

The latest figures for March 2026 have been released by car industry body the Society of Motor Manufacturers and Traders, and what is normally a busy month with registration plate changes turned into a bonanza with over 86,000 EVs sold – the highest month ever recorded in the UK. 

That figure was up almost a quarter on the previous year, with sales of plug-in hybrid cars up nearly 50%. Petrol and diesel engined cars suffered a fall in the month, with overall numbers up 6.6% on March 2025. 

It was the best March performance for the new car market since the COVID-19 pandemic hit in 2020, but sales remain significantly down on the years leading up to the global health crisis. 

Despite the good news for EVs, the car industry is still complaining about having to meet sales targets for EVs, with the SMMT saying that the 22% market share for electric cars remains well below what the government has mandated for 2026. 

While true at first glance, the statement ignores the various mechanisms that reduce individual carmakers’ sales requirements and the fact that manufacturers that sell higher numbers of electric cars can pool their resources with rivals who are selling too many combustion engined vehicles, reducing the impact of the government's 'ZEV mandate'. 

SMMT CEO Mike Hawes has also sounded some cautionary notes about the ongoing impact of the attacks on Iran and potential energy crisis. “Much of March’s performance will be from orders placed before the start of the Iran conflict, which threatens to raise the cost of living, undermining consumer confidence. Against this backdrop, and with the EV market falling further away from mandated levels despite record levels of incentives, an urgent review of the transition is required to secure a sustainable market, economic growth and the UK’s net zero ambitions.”