"In May, EV-related searches on Pickles remained approximately 46% higher than February levels, while EV clearance rates continued to sit around the 70% mark despite increased market supply."
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Pickles data also showed the second-hand EV market is rapidly diversifying, with more than 60 different models sold in the past six months.
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Mr Ticehurst said it's encouraging to see growing confidence in the second-hand market, explaining that: "The introduction of independent battery testing, alongside increased awareness of battery safety and improved longevity, is helping to remove uncertainty for buyers."
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The trend marks a notable shift from two years ago when NRMA Insurance's Changing Gears report found only 20% of Australians planning to buy a car in the next five years were considering an EV, with upfront costs, range anxiety and charging times key barriers.
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IAG is the country's largest general insurer with brands including NRMA Insurance, RACQ, RACV, WFI, CGU and ROLLiN'. EVs make up around 2% of IAG's motor policies, with expectations the share will rise to 10% by 2030 as adoption increases.
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Of the battery EVs insured by IAG, Teslas represent 60%, but there is rapid growth among other brands including BYD, MG, Hyundai and BMW.
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CSIRO modelling suggests that by 2050, most vehicles in Australia will be electric.
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Growing confidence in the used EV market
General Manager Motor Vehicles at Pickles, Australia's largest online vehicle auction platform, Chris Shaw said: "Following a strong uplift in March - including a 163% surge in EV-related searches and peak auction clearance rates of 100% - the used EV market continued to show sustained buyer demand through April and May.
"In May, EV-related searches on Pickles remained approximately 46% higher than February levels, while EV clearance rates continued to sit around the 70% mark despite increased market supply."
Pickles data also showed the second-hand EV market is rapidly diversifying, with more than 60 different models sold in the past six months.
Mr Ticehurst said it's encouraging to see growing confidence in the second-hand market, explaining that: "The introduction of independent battery testing, alongside increased awareness of battery safety and improved longevity, is helping to remove uncertainty for buyers."
The trend marks a notable shift from two years ago when NRMA Insurance's Changing Gears report found only 20% of Australians planning to buy a car in the next five years were considering an EV, with upfront costs, range anxiety and charging times key barriers.
IAG is the country's largest general insurer with brands including NRMA Insurance, RACQ, RACV, WFI, CGU and ROLLiN'. EVs make up around 2% of IAG's motor policies, with expectations the share will rise to 10% by 2030 as adoption increases.
Of the battery EVs insured by IAG, Teslas represent 60%, but there is rapid growth among other brands including BYD, MG, Hyundai and BMW.
CSIRO modelling suggests that by 2050, most vehicles in Australia will be electric.
