EV leasing orders jump 89% as more drivers switch to electric

We’ve seen a huge jump in demand for electric cars, with orders through Octopus Electric Vehicles rising 89% in March compared to February.

It’s a clear sign that more drivers are moving away from petrol and diesel – and it’s not hard to see why. Fuel prices are climbing again, hitting around £1.58 per litre for petrol and £1.91 for diesel (and often more on motorways), making it harder for households to keep costs under control.

Electric driving offers a different kind of experience. With EVs, running costs are far more predictable – especially when you combine them with smart energy tariffs that let you charge for less overnight. For a lot of people, that added certainty is becoming a big reason to switch.

As our CEO, Gurjeet Grewal, puts it:

“Drivers are making the switch to electric faster than ever. An 89% jump in orders in a single month shows this isn’t a gradual shift anymore – it’s a tipping point."

“People want more control over what they spend on driving. EVs give them that. With simple leasing and smart charging, it’s easier than ever to avoid the ups and downs of fuel prices and move to a cleaner, more affordable way to drive.”

We’re also seeing this shift happen more broadly in the home. Across Octopus Energy, more customers are investing in technologies that cut costs and reduce reliance on fossil fuels – from heat pumps to solar – as part of a wider move towards electrification.

When it comes to the cars themselves, demand is coming from a mix of well-known favourites and newer brands entering the market. Our most popular EVs in Q1 2026 show just how quickly things are evolving:

Top 5 most popular EVs (Q1 2026):

• Tesla Model Y
• JAECOO 5
• OMODA E5
• MG4
• Škoda Elroq

While the Tesla Model Y continues to lead the way, we’re seeing growing interest in newer, high-spec alternatives like the JAECOO 5 and OMODA E5. At the same time, more affordable options like the MG4 remain key to helping more people make the switch.

All in all, it’s clear that electric driving is no longer a niche choice – it’s quickly becoming the default.