Australia saw a continued increase in electric vehicle (EV) sales in 2024, reaching 91,292 units. Despite this growth, the rate of increase slowed compared to 2023. Tesla, while still dominating the market, faced increased competition, with BYD making significant strides.
Australians bought 91,292 electric vehicles (EVs) in 2024, up 4.7 per cent on the previous year. That saw them account for 7.4 per cent of the overall market, a slight increase again on 2023 where they held a 7.0 per cent market share . Include the handful of electric trucks from Foton Mobility and SEA Electric, and the tally grows to 91,495. These figures are based on data collated by the Federal Chamber of Automotive Industries (FCAI) and the Electric Vehicle Council.
But while EV sales still grew in 2024, they didn’t grow as much as they did in 2023. In that year, EV sales were up by 160 per cent over 2022’s tally. While EV sales went in the opposite direction to sales of petrol-powered vehicles (down 10.1 per cent) and diesels (down 2.5 per cent), their growth was outpaced by that of hybrids (up 76 per cent) and plug-in hybrids (up 100.2 per cent). Though it was the brand that lost the most volume between 2023 and 2024, Tesla still dominated the EV market with 42 per cent market share. However, this was down significantly from its 53 per cent share in 2023, as sales of its Model Y – still one of Australia’s most popular vehicles – declined significantly amid a surge in competition. Tesla deliveries were down by 16.9 per cent while second-place BYD was up by 64.5 per cent, though this was driven in part by the launch of its first plug-in hybrid (PHEV) in Australia. MG once again took the bronze, with its EV sales up by 39 per cent, but BMW took fourth position in the EV sales race in 2024. In 2023, it sat in seventh position. BMW’s EV sales were up by 160 per cent, while Volvo’s slid by 2.2 per cent despite the launch of the new EX30. The top 10 was rounded out by Kia (up 18.8 per cent), Hyundai (up 11.3 per cent), Mercedes-Benz (down 18.4 per cent), Polestar (down 30.3 per cent), and GWM (up 132.9 per cent
ELECTRIC VEHICLES AUSTRALIA SALES TESLA BYD MARKET SHARE COMPETITION AUTOMOTIVE INDUSTRY
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