NRMA insurance reveals the key to absorption of EV
The high cost is another barrier, with only one handful of models lower than $ 40,000 and a limited market that makes electric vehicles less accessible for buyers attentive to the budget. Despite the highest initial purchase price, many consumers are not aware of the fact that lower management and maintenance costs make electric vehicles more convenient during their lives. An average car that leads 13,700 kilometers per year could save $ 1000 per year in fuel, or $ 1200 with top -up charging during the night. As battery technology improves and production stairs, initial costs are expected to decrease, making EV more competitive.
Australia’s EV Future: guiding the charge
The report also illustrates the rapid growth of electric vehicles in Australia and provides that the future expansion will probably be guided by younger drivers. Electric vehicles, which made up less than 1 % of new cars sales in 2020, have constantly increased their market share every year, reaching 8 % of light vehicles sales in 2024.
It is not surprising that the increase in the adoption of EV is more pronounced among drivers with family income of over $ 200,000, families with children and residents in capital, with many cited racing costs and lower sustainability as key reasons for their purchase.
“To capitalize this momentum, we need policies and incentives to support the second -hand EV market, which will help make these vehicles more accessible, especially among some buyers who could be discouraged by the initial cost of a new EV”, says Batch of the data on growth.
View the report on gears and its recommendations on The NRM insurance website.
