Electric vehicles (EVs) are becoming increasingly popular around the world, but Australia is lagging in terms of adoption. According to recent research, most potential buyers in Australia find the high price barrier a significant disincentive to purchasing and making the switch from petrol engines.
In addition, Australia currently only has 30 out of 300 EVs available worldwide, which limits consumer choice and keeps prices high in the Australian market.
To encourage more people to switch to EVs, better government incentives are required. One example of such incentives is the recent announcement by the Queensland government, which has introduced Australia’s biggest electric-car subsidy. Eligible motorists in Queensland can now apply for a $6000 rebate on the purchase of any new sub-$68,000 electric car. This is the most generous subsidy of any Australian state or territory, and it is hoped that other states will follow suit.
Last year, the Federal Government announced Fringe Benefits Tax Incentives to aid purchasing EVs will have a broader positive affect for EV take up and are not limited by State borders.
Despite these initiatives, a recent survey of Australian consumers shows that in the next 10 years, only 25% would consider buying a new EV option, compared to the hybrid and petrol car alternatives. This is a concerning trend given the importance of reducing emissions and Australia’s commitment to the Paris Agreement.
One reason for this lack of interest in EVs is the high cost of the vehicles. In addition, there is still a perception that EVs have limited driving range and are not suitable for long journeys. However, advances in technology mean that many EVs now have a range of up to 500 km on a single charge, making them a viable option for many Australians.
Another challenge for the EV market in Australia is the limited infrastructure for charging. Although the number of public charging stations is increasing, there are still relatively few compared to petrol stations. This can be a concern for people who worry about running out of power on long journeys.
Not all roads to EV’s are the same. Yes, we are behind Europe in EV take up but we are not the same as Europe. We are geographically different, our driving habits and distances we drive are different. Our infrastructure investment and government incentives are low. Currently, with high EV pricing for the average new car buyer there are still significant barriers to EV adoption.
More EV choices, more competition from existing manufactures and new EV entrants will increase volume coming into the Australian market. This will enable a shift in EV prices, providing lower cost options that will make them more affordable for buyers. More demand will accelerate more investment into infrastructure and hopefully more government incentives to make the switch to an EV future as we work towards zero emissions.
So buying a new Electric Vehicle can be an overwhelming experience. Making the decision to transition from a petrol car to an EV presents a lot unfamiliar factors and there are a lot of important things to consider. It can also be a very time-consuming experience. However, there is still a right EV for your budget and needs.
Consider “My Next Car Buying Advocacy” for assistance with your EV -car buying advocacy services. We can take all of the hard work out of buying your next car so you can focus on the things most important to you. Feel free to contact us for a free quote on 0402 386 176!