US-Iran war boosts used electric vehicle sales
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 10 April 2026
⏱️ 12 minutes
🧾️ Download transcript
Summary
Shipping through the Strait of Hormuz remains at a standstill, sales of used electric vehicles are surging in the US, and the International Monetary Fund is warning that the war’s shocks will be felt by the global economy for a while. Plus, the FT’s Marton Dunai gives a rundown of the upcoming Hungarian elections.
Mentioned in this podcast:
OECD urges governments to rapidly unwind costly fuel duty cuts
Refineries rush to secure oil cargoes as Iran maintains grip on Hormuz
Sales of used EVs surge in US as petrol prices pass $4 a gallon
Who is Péter Magyar, Viktor Orbán’s nemesis?
Donald Trump and JD Vance back Viktor Orbán ahead of Hungary’s election
Credit: AP Archive, C-SPAN, Reuters
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Today’s FT News Briefing was hosted by Victoria Craig, and produced by Saffeya Ahmed and Sonja Hutson. Our show was mixed by Sam Giovinco. Additional help from Gavin Kallmann. Our executive producer is Topher Forhecz. Cheryl Brumley is the FT’s Global Head of Audio. The show’s theme music is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | Good morning from the Financial Times. Today is Friday, April 10th, and this is your FT News briefing. |
| 0:09.8 | Hopes are fading fast that a U.S.-Iran ceasefire will reopen the Strait of Hormuz, and the war is making electric vehicles more attractive to consumers. |
| 0:19.9 | Plus, Hungarian voters could oust their longtime leader this weekend. |
| 0:24.6 | Orbán turned hungry inside out in those 16 years that has been in power. |
| 0:29.3 | So now Orbán very much finds himself cornered and isolated. |
| 0:34.2 | I'm Victoria Craig, and here's the news you need to start your day. |
| 0:49.4 | Thank you. I'm Victoria Craig, and here's the news you need to start your day. Shipping through the Strait of Hormuz remains at a standstill. |
| 0:52.4 | That's despite a U.S.-Iran ceasefire |
| 0:55.1 | that was meant to reopen one of the world's busiest waterways. Iran effectively closed it |
| 1:00.8 | when the conflict started. But yesterday, NATO Secretary General Mark Ruta said the alliance |
| 1:05.9 | could play a role in helping to get ships moving again. |
| 1:09.7 | If NATO can help, obviously NATO is there. |
| 1:12.8 | There's no reason not to be helpful. |
| 1:16.3 | Obviously, we will. |
| 1:17.6 | Oil supplies remain extremely tight, and more cracks in the market are starting to show. |
| 1:23.2 | Prices of North Sea oil for immediate delivery rose to record highs yesterday, |
| 1:27.4 | and traders were |
| 1:28.4 | unable to buy some Brent crude contracts. |
| 1:37.2 | Since the start of the war, governments around the world have rushed to cut fuel taxes. |
| 1:42.2 | It was a way to shield consumers from the energy price shock. |
| 1:45.6 | Now, the OECD's new chief tells the FT that those tax cuts could fuel inflation and they should |
| 1:51.5 | be phased out. Good thing, then, that some consumers have been finding their own ways to protect |
... |
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