Soaring EV sales in Australia, why the EV market continues to boom

13 March 2023

In February, EV sales in Australia hit a new high, with a record share of 6.8% of all new car sales (passenger SUV, and light commercial), according to data from vFacts on behalf of the Federated Chamber of Automotive Industries. 

Of the 88,878 vehicles sold, 5,932 were electric vehicles with Tesla contributing significantly to this number. Here is a quick overview of how Tesla performed:

  • – Tesla accounted for 60% of EV sales, selling 3,516 vehicles.
  • – Tesla made up 4% of total vehicle sales.
  • Tesla Model 3 accounted for 16.3% of the total passenger market, with 2,671 sales in the month.
  • Tesla Model Y had 845 sales and captured 30% of the Medium SUV, over $60k market.
  • – The Tesla Model 3 was the third best-selling vehicle in Australia, following the Ford Ranger and Toyota Hilux.

Electric vehicles also made up 75% of the medium passenger market.

Tesla 3 leading the growth of EV sales in Australia

Top-selling EVs in Australia for the February 2023

The top-selling EVs for the February 2023 were:

  1. Tesla Model 3 (2,671)
  2. Tesla Model Y (845)
  3. BYD Atto 3 (770)
  4. MG ZS EV (387)
  5. Polestar 2 (172)

What are the factors behind the surge in electric vehicle sales in Australia?

There are several factors contributing to the growth of EV sales in Australia:

  1. Increasing awareness: More people are becoming aware of the benefits of electric vehicles, such as their lower operating costs, reduced environmental impact, and better performance compared to traditional petrol or diesel vehicles.
  2. Improving technology: Electric vehicle technology is rapidly advancing, with improvements in battery technology, range, and charging infrastructure. As a result, electric vehicles are becoming more practical and convenient for everyday use.
  3. Environmental concerns: With increasing concern about climate change and air pollution, many consumers are looking for more environmentally friendly alternatives to traditional vehicles. Electric vehicles produce zero emissions, making them a popular choice for eco-conscious consumers.
  4. Lower running costs: Electric vehicles have lower operating costs compared to traditional petrol or diesel vehicles, as they require less maintenance and have lower fuel costs. This makes them a more attractive option for cost-conscious consumers.
  5. Government incentives: The Australian government offers incentives such as tax credits, rebates, and grants to encourage the adoption of electric vehicles. These incentives can reduce the upfront cost of purchasing an electric vehicle, making them more affordable.

Overall, these factors are driving the increasing sales of electric vehicles in Australia, and this trend is likely to continue as technology improves and awareness of the benefits of electric vehicles grows.

MG ZS EV the fourth best selling EV now available on subscription

Trial an electric vehicle before you buy

Purchasing an EV can be a significant financial commitment, especially if you are unsure if an EV is right for your lifestyle. This is where Karmo EV car subscriptions come in. EV car subscriptions allow drivers to access the benefits of driving an electric vehicle without the upfront cost of purchasing one.

What is an Electric Vehicle Subscription? 

An EV car subscription is an alternative way of allowing  drivers to access an electric vehicle for a shorter fixed period of time. The subscription fee covers the cost of the vehicle, registration, roadside assistance, insurance, and maintenance. Drivers can choose the subscription term period that best suits their needs, typically four or six months, with the flexibility to cancel or to continue the subscription upon term completion.  At the end of the four or six month term, we will replace your EV with a brand new one. This allows you to upgrade or swap your EV as they are made available without taking on any risk.

EV Subscriptions Brisbane, Sydney, Melbourne, Adelaide, Perth

If you want to get behind the wheel of an EV with a risk free car subscription, enquire with Karmo today. Alternatively, you can learn more about Karmo Car Subscriptions or browse our great range of vehicles

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