‘Flipped on its head’: Sticker price and running costs steer thousands of Aussies toward EVs
Australian electric vehicle sales have more than doubled in March due to rising fuel prices, with damaged EVs selling for the price of new diesel or petrol cars. The surge in demand has slashed the supply pipeline, with available stock falling 38% to 28 days.
Electric vehicle sales in Australia have surged, more than doubling in March to 7557 units, driven by rising global fuel prices. Damaged EVs are selling for the price of new diesel or petrol cars, with auction houses seeing strong demand. Chinese EV brands like BYD, MG, and Chery have reduced prices, making EVs more competitive. Analysts say the total cost of ownership for EVs is now favorable compared to petrol vehicles, with average EV drivers potentially saving up to $10,750 over a 10-year period. The surge in demand has depleted the supply pipeline, with available stock falling 38% to 28 days. As a result, buyers are moving quickly to purchase available EVs, particularly those with repair potential.
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