Rising Gas Prices Push EV Sales to Record Highs in Asia

When gas prices started climbing this spring, car buyers in Manila made a choice that's reshaping the auto industry.

One BYD dealership in the Philippines capital booked an entire month's worth of orders in just two weeks. Salespeople say customers are racing to replace their gas-guzzlers before fuel costs climb even higher.

"Clients are replacing units in favor of EVs because of the oil price hikes," says Dominique Poh, a salesman watching the shift happen in real time. His experience isn't unique.

About 1,100 miles away in Vietnam, a VinFast dealership had to hire extra staff after showroom visits quadrupled since tensions began rising in the Middle East. Lai The Manh Linh traded his Toyota for a VinFast EV5, explaining the math simply: "Switching to EV will help us significantly save money."

The numbers tell the whole story. Electric vehicles helped the world avoid using 1.7 million barrels of oil per day last year, according to UK research group Ember. That's roughly 70% of what Iran exports through the Strait of Hormuz, where about 40% of Asia's oil imports pass through.

BYD, which stopped making gas-only cars in 2022, has become the world's largest EV maker. The company sold over 4.6 million electric and plug-in hybrid vehicles in 2025, jumping to sixth in global sales and surpassing Ford for the first time.

Countries are responding fast. Laos is slashing EV registration fees while raising them on gas cars. Thailand's auto industry spokesman Surapong Paisitpatnapong admits they'd been worried about lower subsidies hurting EV demand, but now says "if oil prices stay at current levels or rise further, we expect a significant increase in EV demand."

The Ripple Effect

The shift is spreading beyond Asia. Shopping data from Edmunds shows that in the first week of March alone, interest in electric vehicles jumped more than 20% in the United States. Battery electric vehicles led the surge as national gas prices climbed toward $4 per gallon.

In China, BYD is doubling down with an offer of free charging for 18 months on select models. The message is clear: electric isn't just about the environment anymore. It's about protecting your wallet from global oil shocks.

Thailand previously worried that reduced subsidies would slow EV adoption, but rising oil prices have flipped the equation entirely. What seemed like a tough sell weeks ago now looks like the obvious choice to drivers watching their fuel costs spike.

The timing couldn't be better for energy independence, as buyers realize that plugging in at home beats depending on oil shipped through unstable regions.