UAE petrol prices soar, electric car demand soars

IT House June 19 news, as gasoline becomes more and more expensive, the daily cost of oil vehicles is also getting higher and higher, and even domestic oil prices have reached a record high. Likewise, the UAE has seen a surge in demand for electric vehicles.

Given the high gasoline prices in the UAE, Belal Nasr, CEO of New Auto, stressed that electric vehicles are extremely cost-effective.

“Instead of spending Dh2,000 on gas, we can spend the same amount as a new electric car instalment,” he said. “Also, banks are offering very attractive interest rates for electric cars and the government is encouraging everyone to go electric. car.”

He said demand for electric vehicles had surged as oil prices rose; customers were concerned as prices remained high in the global market.

At present, in the UAE market, Volkswagen, Hyundai, Kia and other electric vehicle brands are all importers. Nasr noted that the UAE market is experiencing a scarcity of electric vehicles due to high demand in the local market.

A survey conducted by Audi Abu Dhabi shows that 52% of UAE residents plan to buy a hybrid or electric vehicle due to rising oil prices, while 25% are waiting for more electric vehicle alternatives before making a decision . In addition, 14% said they recently bought a gas car, but would rather have a hybrid/electric car.

IT Home has learned that in June this year, global oil prices soared, with oil prices in the UAE hitting a record high of nearly Dh4 per liter, up 56% from January 2022.

Mark Austin, general manager of Audi Abu Dhabi, said: “Over time, interest in electric vehicles started to grow naturally. However, rising gasoline prices may have accelerated consumer attitudes toward electric vehicles. “

New Auto managing director Amjad Nasr said EV charging is currently a free or relatively cheap option. “The cost of charging an electric car is much lower compared to the oil price. A regular car only costs Dh200-250 to fill up. So 8 to 10 refills per month means Dh2,000, while Owners can use the money to pay monthly instalments for electric vehicles.”

In the UAE, many malls and buildings now offer free charging and parking for electric vehicles. Owners of “eco-friendly vehicles” can also get a tax-free sticker when they register.

Amjad said the demand for trams in the UAE has been phenomenal, with an increase of almost 200% compared to last year.

“People are asking for electric vehicles because fuel prices are soaring. For example, one of our customers who drove a large 4×4 complained that the fuel cost of commuting between Dubai and Abu Dhabi was as high as Dh2,000+. Long-distance drivers opt for electric vehicles , which will save them a lot of money,” he said.