Drive.com
AUSTRALIA’S electric vehicle market has hit a new high, with record monthly sales underscoring how rising fuel costs and government incentives are accelerating the shift away from petrol cars.
New data from the Federal Chamber of Automotive Industries and the Electric Vehicle Council shows 15,839 battery electric vehicles (BEVs) were sold in March – the highest number recorded in a single month.
That figure represents 14.6 per cent of all new car sales, nearly double the share seen in the same month last year, with EVs making up 11.8 per cent of total sales so far this year.
According to the National Automotive Leasing and Salary Packaging Association (NALSPA), the spike reflects a convergence of cost pressures and policy incentives pushing more Australians to consider electric options.
NALSPA chief executive Rohan Martin said soaring fuel prices have sparked widespread interest, but it is the Federal Government’s Electric Car Discount that is converting that interest into actual purchases.
“The fuel crisis has undoubtedly sparked unprecedented new interest in both new and used EVs, but it’s the Albanese Government’s Electric Car Discount that’s actually getting many Australians into one,” Mr Martin said.
He said novated leasing providers experienced a surge in demand throughout March, with many reporting their strongest month on record for EV orders.
In some cases, battery electric vehicles accounted for the majority of leases – a significant jump from the typical share of around half.
The trend is not limited to higher-income earners, with growing uptake among essential workers and those on average and below-average incomes.
“EV drivers generally save about $3000 a year on running costs, and when combined with a novated lease and the Electric Car Discount, the savings become even more compelling,” Mr Martin said.
He said while Australia still lags behind global EV adoption rates, the recent fuel price shocks have accelerated a shift that was already underway.
“For many Australians, curiosity has turned into commitment once they understand the support available to reduce upfront costs.”
