Press Association<\/a> that the war and related spike in fuel prices has \u201creduced demand for diesel cars\u201d, while demand for electric cars has risen.<\/p>\nDiesel prices have risen by more than 31%, to an average of 187.48 pence per litre, since the conflict began in late February.<\/p>\n
He added that supply of motor oil used in its servicing operations, which typically comes from Qatar, has also been impacted by the conflict.<\/p>\n
\u201cWe have built up a strong central stock of motor oil, but we did have some orders knocked back because there is a large dislocation in supply in the region,\u201d Mr Forrester said.<\/p>\n
The company also highlighted strong demand for older vehicles, pointing towards particular sales growth for cars which are \u201cseven years or older\u201d due to pressure on consumer finances.<\/p>\n
It came as Vertu said its finances came under pressure from the Government Zero Emission Vehicles (ZEV) mandate over the year to February.<\/p>\n
Government policy is seeking to ensure that 80% of new cars and 70% of new vans sold in Britain will be zero emission by 2030, increasing to 100% in 2035.<\/p>\n
The dealership said this is leading an oversupply which is bringing down the prices of electric vehicles and impacting profitability.<\/p>\n
Vertu reported that an adjusted pre-tax profit of \u00a324.5 million for the year, dropping from \u00a329.3 million a year earlier.<\/p>\n
It came despite revenues increasing to \u00a34.83 billion, compared with \u00a34.76 billion a year earlier.<\/p>\n","protected":false},"excerpt":{"rendered":"Vertu Motors has warned that a prolonger war in Iran could drive vehicle prices higher as it also…\n","protected":false},"author":2,"featured_media":112209,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[1990,19284,27099,38718,38716,34,38720,38719,38715,38717,38714],"class_list":{"0":"post-112208","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-iran","8":"tag-conflict-in-the-middle-east","9":"tag-diesel-prices","10":"tag-electric-cars","11":"tag-electric-vehicle","12":"tag-government-ev","13":"tag-iran","14":"tag-press-association","15":"tag-prolonged-war","16":"tag-robert-forrester","17":"tag-supply-concerns","18":"tag-vertu-motors"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@iran\/116568392008593614","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts\/112208","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/comments?post=112208"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts\/112208\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/media\/112209"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/media?parent=112208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/categories?post=112208"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/tags?post=112208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
![\"Vertu](\"https:\/\/www.europesays.com\/iran\/wp-content\/uploads\/2026\/05\/0ff1d6943ae37e014f4e265e5bdecfa2.jpeg\")
Vertu Motors has warned that a prolonger war in Iran could drive vehicle prices higher as it also stockpiled motor oil over supply concerns (Gareth Fuller\/PA) (PA Wire) <\/p>\n