EV Car Stats Australia – Essential Electric Vehicle Statistics
There’s no doubt about it – the electric vehicle (EV) industry in Australia has undergone an enormous shift in both growth and adoption in recent years, influenced by factors such as rising support for environmental sustainability, governmental subsidies, and changing consumer perceptions.
At Credit One, we recognise these are the budding signs of a potential sustainability revolution that the EV market will play a big part in. Whether you’re considering financing your next electric vehicle or exploring the EV market, it’s important to have a good understanding of the current dynamics of electric vehicle ownership in Australia.
In this article, we will highlight key statistics surrounding the overall state of the EV car market, state-specific numbers for EV support policies and infrastructure, as well as the costs and ownership trends for 2023/2024.
Table of Contents
- Electric Vehicles Market Statistics
- State Statistics for EV Support
- EV Car Ownership Statistics
- EV Car Costs Statistics
Electric Vehicles Market Statistics Australia
Sales of EV cars in Australia have skyrocketed.
The total volume of sales of EV cars in the first half of 2023 far surpassed the total sales for 2022. As of the end of June 2023, 46,624 EVs had been sold in Australia— this is almost 3 times higher than the same period in 2022 (a 269% increase).
7.2% of all new cars sold in Australia are EV cars.
Of the 1,216,780 vehicles that were registered in 2023, 87,217 of them were EVs. Despite the seemingly small percentage, this number of EV car registrations is a 161% increase over all of 2022.
The most popular EV car model in Australia is the Tesla Model Y.
Australia’s EV sales so far in 2023 have been dominated by 3 models, with the Tesla Model Y, Tesla Model 3, and BYD Atto 3. These three models represent a whopping 68.1% of Australia’s EV car market.
The number of EV car models has increased by 56% compared to last year.
According to the Electric Vehicle Council (EVC), there were 91 light electric vehicle models and 148 variants of these models available in Australia in 2023. While this increase is encouraging for the Australian EV market, it is still limited by the lack of a nationwide New Vehicle Efficiency Standard to ensure that car manufacturers can increase the supply of EVs.
State Statistics for EV Support
The Australian Capital Territory has the highest proportion of new EV car sales.
A study from the EVC showed that the ACT remains the country’s leading source of EV sales at 21.8%. Other states and territories have a significantly smaller proportion of sales with Tasmania at 9.0%, New South Wales at 9.0%, Victoria at 8.5%, Queensland at 7.7%, Western Australia at 7.5%, South Australia at 6.5%, and finally Northern Territory at 2.4%.
Queensland offers the highest amount of rebate for EV car purchases.
As part of its Zero Emission Rebate Scheme, Queensland doubled its EV rebate from $3,000 to $6,000, making it the state that offers the highest rebate for EV purchases. It also increased the eligibility from $58,000 to EVs that cost under $68,000, making the rebate more accessible to higher-priced models.
In contrast, the next highest rebate is offered by Western Australia, which is at $3500 for EVs under $70,000 for the first 10,000 buyers.
Australia currently has over 2,000 EV public charging points across all states.
NSW has the most charging stations at 715, with VIC as the runner-up with 475. Each state is making efforts to extend and improve Australia’s electric charging network to provide more stability and less range anxiety for electric vehicle drivers.
NSW has pledged a $149 million investment for developing a state-of-the-art charging network.
The state expects to implement approximately 250 additional fast and ultra-fast charging stations across its roads in the coming years. According to the project’s goals, there will be at least 4 fast or ultra-fast chargers per station every 5 km in metropolitan areas and at 100 km intervals across all major NSW highways.
EV Car Ownership Statistics
The majority of Australians that would consider purchasing an EV car are between the ages of 30-44.
EVC’s research found that electric vehicle consideration is highest among the age range of 30-44 years old, which makes up 60% across all ages of Aussies who would consider buying an EV. This also overlaps with this group being one of the largest consumers with purchasing power.
Price is the biggest concern when it comes to buying an EV.
87% of respondents indicated that the upfront purchase price of an EV was the main barrier that discouraged them from buying one. Increasing focus on state policies that offer rebates and exemptions from stamp duty may help to shift this perception in the following years.
Overall, EV cars are cheaper to power and maintain when compared to internal combustion engine (ICE) vehicles.
Due to the relative stability of electricity costs compared to fuel costs, powering an EV is around 70% cheaper compared to regular cars. It was also found that EV owners save up to 50% more in maintenance costs than fuel-powered car owners.
EV Car Costs Statistics
The average cost of an EV car in Australia is $60,000
The recent emergence of cheap China EV car models that start from around $40,000 has pushed this average down. In reality, most models fall between the $60,000 to $90,000 range.
The most expensive EV car model is the Porsche Taycan Turbo S Sedan at $363,800.
The EV boasts an incredible 560kW and 1050Nm from the car’s twin electric motors, along with a distance claim of 405km from the 93kWh battery and a 225kW fast charging capability.
Victoria is the cheapest state for home electric car charging.
At an electricity rate of 24.444 cents/kWh, it will only cost $14.67 to fully charge a standard 60 kWh EV battery in VIC.
Public electric car charging across Australia on the other hand can cost up to 63 cents/kWh. This cost is dependent on the charging speed that the public charging station can deliver, with higher charging speeds commanding higher prices.
Future EV ownership in Australia
The rapid uptake of EV cars in 2023 is a sign that our roads may be populated with more sustainable vehicles in the coming years. Future EV owners can look forward to better infrastructure support in the form of more available and faster charging stations, as well as more flexible subsidies that bring down the cost of purchasing an EV.
Whether you’re looking to buy an EV car as your first vehicle, or are thinking of making the switch to a more sustainable personal transport, contact our helpful team of EV car loan experts at Credit One. We’ll be able to help you secure the best rates so that you can focus on enjoying your new EV car without worrying about your finances.
