Aus government extends EV discount
The Australian government has extended its Electric Vehicle Discount, a tax perk driving EV sales, despite criticism over its cost. The policy will be gradually reduced from 2027, limiting the number of eligible electric cars.
The Australian government's Electric Vehicle Discount has been extended, boosting EV sales. The policy makes electric cars cheaper to lease by waiving Fringe Benefits Tax. In April, electric cars represented one in six new cars sold, with BYD's Sealion 7 being the best-selling EV. BYD has become Australia's second-largest car brand, surpassing Ford, Mazda, and Hyundai. The government's decision comes amid pressure from critics who say the incentive costs too much. From 2027, the policy will be limited to cars priced under $75,000, affecting prestige brands like Audi and BMW. EVs priced between $75,000 and the luxury car tax threshold will be subject to 75% of the FBT from 2027 to 2029.
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