In February 2023, fully battery electric vehicles accounted for 6.8% of Australia’s overall new car market.
The Driven reveals, citing FCAI’s latest data, that there are a few interesting trends as total EVs on Australian roads approach 80,000.
EV adoption has surpassed 78,000 vehicles in Australia
The year began with EV adoption accounting for 5.7% of all vehicles sold in January. In February, EVs accounted for 6.8% of all sales, with 5,932 EVs sold during the month. The calculation is based on a total of 88,878 vehicles.
The report noted that the total EV fleet now stands at 78,479 battery electric vehicles, with 10,784 EVs sold in 2023 because of the increased demand for EVs.
Tesla continues to lead the market
Again, Tesla dominated the market, selling 3,516 EVs in February, accounting for 60% of all battery electric vehicles sold in February.
To put things in perspective, Tesla has sold 63% of all EVs this year. Tesla sold 6,829 EVs out of the 10,784 sold in 2023.
Breaking down Tesla’s models further, the Tesla Model 3 has accounted for 82% of sales in Australia this year.
According to carloop’s analysis of delivery trends data, some of these vehicles delivered in 2023 thus far were consumer orders from as far back as March 2022.
The numbers change as Tesla works through the massive backlog of customer orders.
Last year, the Tesla Model 3 outsold the Toyota Camry. For both months this year, it has been the third-best-selling vehicle in the country.
For those interested in driving a Tesla Model 3, numerous examples of new Tesla EVs are ready for immediate shipment in most states and territories.
The Tesla Model Y sold 845 units during the month, an increase of 119% monthly. This shift is also expected to occur as more Tesla Model Ys enter the market in the coming months.
BYD sales are increasing by 177%
BYD had strong sales in February, with a 177% month-over-month increase after selling 770 Atto 3 electric SUVs.
The sales accounted for 13% of total battery-electric vehicle sales during the month. It also represents an increase from just 267 unit sales in January. Per calculation, it brings the year’s total to 1,037 sales.
These sales are expected to increase as BYD exports more pure EVs to global markets such as Australia.
Another all-electric hatchback test vehicle, the BYD Dolphin, was spotted in February. It is a different vehicle than the one noticed late last year in Sydney. The new EV bodes well for the brand’s future sales when it arrives in Australia later this year.
Furthermore, it is anticipated to be more affordable than the Atto 3 currently on sale in Australia, so more Australians can switch to an EV by 2023.
Hyundai Ioniq 5 sales are approaching a fourfold increase
Following an eventful month for the Hyundai brand, which saw the launch of the Ioniq 6 “streamliner” sedan in Australia, the Ioniq 5 saw a significant increase in sales.
As per the report, 146 Ioniq 5 electric SUVs were sold during the month, representing a 387% increase over January sales.
The results gave Ioniq 5 a market share of 2.5%, which was more than three times that of the Kia EV6. Both of these vehicles share the Hyundai-Kia e-GMP platform.
In February, Hyundai experienced technical difficulties that hampered the successful release of 170 Ioniq 5 vehicles in the third week of the month.
Regardless, the popularity of Hyundai’s all-electric Ioniq sub-brand in Australia means the company can sell as many as possible.
With Tesla lowering prices across its lineup significantly in January, the impact of these price cuts may be felt across EVs like the Ioniq 5, which compete with the extremely popular Model Y.
If the Ioniq 5’s supply increases, prices must fall for the Ioniq 5 to compete with Tesla’s aggressive growth strategy in Australia.
After a slow start, the Porsche Taycan has made a comeback
Porsche saw a significant increase in Taycan sales in February, with 48 vehicles sold during the month. It represents a 500% increase from the previous month when only eight Taycans were sold.
The figures are still a good sign for Porsche in Australia, where the Taycan was the most popular four-door sedan, outselling the Panamera.
Interestingly, a tri-motor version of the forthcoming 2024 Porsche Taycan was spotted during winter testing in Europe in January.
That said, Porsche may still be working on the all-electric Taycan platform to nudge the refreshed Tesla Model S, which will be available in the United States in 2021.
It will be fascinating to see Taycan’s sales trends for the rest of 2023 as economic uncertainty grows and demand for luxury sports cars stagnates.
There is also a chance that Tesla will deliver a refreshed Tesla Model S by the end of the year, which could eat into Taycan sales.
With the MG 4 launch just days away, affordable EVs have arrived
The models that are accessible and affordable will drive EV adoption. The February uptake serves as a reminder that EV demand is only growing.
Low-cost models are coming, allowing many prospective Australian customers to switch to an EV.
That’s about to change with the introduction of the MG 4, unveiled this weekend at Fully Charged Live in Sydney. The MG electric hatchback will be a completely new EV with a price tag of around $40,000.
Given its success in markets such as the United Kingdom, it has already piqued the interest of Australian drivers, which will help to accelerate EV adoption.
With EV adoption at 6.2% this year, it’s already more than double the 3.1% seen in 2022. More affordable options like the MG 4 and BYD Dolphin enter our market. Therefore, the rapid growth rate will make many people ignore the slow uptake we have seen in recent years.
