Asian countries have been particularly affected due to their heavy reliance on crude oil imports and limited alternatives to replace them, News.Az reports, citing AFP.
At the same time, the energy shock has become a windfall for Vietnam’s leading electric vehicle maker VinFast as well as Chinese automakers.
Vietnamese office worker Do Thi Lan described the simple economics behind the shift at a VinFast showroom in Hanoi, saying: “We have to calculate our monthly expenses, as the money we spend on petroleum has been on the rise.”
She added that although her family already owns a petrol car, they are now considering purchasing an electric vehicle to reduce costs.
Another customer, Dao Thi Hue, a school teacher also visiting the showroom, said she was similarly looking to switch to electric.
“Driving an EV is so much better than driving a petroleum vehicle, in terms of costs and also in terms of saving fuel, queuing to fill up,” she said.
Crude oil prices have risen by around 50 percent since the start of the Middle East war and briefly exceeded $100 per barrel on Monday, pushing up fuel costs at the pump.
VinFast, which is listed on the NASDAQ, reported a 127 percent increase in annual sales in Vietnam in March, reaching 27,600 vehicles.
Around 40 percent of cars sold in Vietnam in 2025 were electric, with the trend continuing to accelerate.
“At this point in time, clients consider fuel costs a lot when making a decision on which cars to buy,” said Pham Minh Hai, deputy head of sales at a VinFast showroom.
“In March we sold 300–400 cars,” he added, noting that the showroom typically sells between 200 and 250 cars per month.
Hai said more than half of his customers shifted from petrol vehicles to electric cars last month, while overall showroom traffic increased by about 30 percent, forcing extended opening hours to meet demand.
Beyond Vietnam, Chinese electric vehicle manufacturers — particularly BYD — are also experiencing strong growth amid the regional shift toward electric mobility.
