EV Sales Surge in March Amid Fuel Crisis, Discounts

Australia has seen more electric vehicles sold in a single month than ever before, as rising fuel costs and the Electric Car Discount converge to drive Australians toward cleaner transport, the nation's peak body for novated leasing said. Figures from the Federal Chamber of Automotive Industries (FCAI) and the Electric Vehicle Council combined show 15,839 battery electric vehicles (BEV) were sold in March. BEVs represented 14.6% of new car sales in March - nearly double the share in the same month last year - and 11.8% for the year to date. "The fuel crisis has undoubtedly sparked unprecedented new interest in both new and used EVs, but it's the Albanese Government's Electric Car Discount that's actually getting many Australians into one," National Automotive Leasing and Salary Packaging Association (NALSPA) CEO Rohan Martin said. "Since early March, our members have been inundated with inquiries about novated leasing and the Electric Car Discount. They're telling us that March was their strongest month for battery electric vehicle orders, and for many, BEVs made up the majority of leases, compared to around half in a typical month. "They are also seeing a sharp rise in customers who are essential workers and employees on average and below incomes looking to make the switch to EVs. "Our members have witnessed heightened demand for used EVs and from workers living in outer and regional areas. These workers often face longer commutes and are among those hardest hit by rising fuel costs, making the case for an EV, and the savings that come with it, all the more compelling. "EV drivers generally save $3,000 every year on running costs and when combined with a novated lease and the Electric Car Discount, total savings rise significantly, making EVs one of the most compelling levers for many households during the sustained cost-of-living crunch. "Whilst Australia is still well behind global benchmarks and has a long way to go to achieve our emissions targets, EV uptake had been gradually climbing before Australians were hit with fuel shortages and price shocks. But for many Australians, the fuel crisis, at least for the short term, has turned curiosity into commitment once they understand that the EV Discount is available to help them afford the upfront cost. "Buying a car is one of the biggest financial commitments a typical household makes. But with the cost of living rising, EVs still carrying a price premium over petrol vehicles, and other barriers to the EV transition remaining, many households simply couldn't make the switch without the Electric Car Discount. "The Electric Car Discount makes EVs affordable and within reach for workers today with no upfront cost and payments deducted directly from pre-tax salary - creating immediate cost-of-living relief and long-term savings."