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Utes dominate vehicles sales and push BYD past Tesla
Utes dominate vehicles sales and push BYD past Tesla

Perth Now

time03-07-2025

  • Automotive
  • Perth Now

Utes dominate vehicles sales and push BYD past Tesla

Dual-cab utes are driving Australia's automotive market, representing the top four best-selling vehicles in the nation and one in every four new models sold. But the popularity of one hybrid ute has also pushed low-emission vehicle brand BYD up the charts during June, helping it surpass long-time rival Tesla by a significant margin. The Federal Chamber of Automotive Industries revealed the trends in sales figures on Thursday, which showed motorists purchased more than 120,000 vehicles to recover from a sales slump earlier in 2025. Electric, hybrid and plug-in hybrid vehicles also continued to climb in popularity during the month, although sales of passenger cars, such as sedans and hatchbacks, fell again. While regularly ranking highly among Australia's bestsellers, utes claimed all four top places in June, with the Ford Ranger in pole position with more than 6200 sales. The Toyota HiLux, Isuzu D-Max and BYD Shark 6 utes filled the other top spots, which chamber chief executive Tony Weber said highlighted the enduring popularity of the workhorse vehicles. "In a market of more than 400 models, the top four utes made up 15.2 per cent of all sales during June," he said. "Australia remains one of the most open and competitive markets in the world, where consumers have a wide range of choice across all market segments." The figures also revealed a spike in popularity for BYD's Shark 6 plug-in hybrid electric ute, which was snapped up by almost 3000 motorists, representing more than double its sales in May. The boost lifted BYD to become Australia's fifth best-selling vehicle brand during June, surpassing long-time electric rival Tesla that ranked in tenth place. Electric vehicle sales also accelerated during June as motorists purchased more than 13,000 battery-powered cars, representing more than 10 per cent of all new vehicle sales. Figures from the Electric Vehicle Council showed sales of Tesla's Model Y improved compared to June 2024, although sales for the US car maker remained 38 per cent lower than last year. Hybrid vehicles continued their streak during June, with the number of plug-in hybrid electric car sales doubling during the month despite the removal of a fringe-benefits tax exemption in April. Hybrids also outsold electric cars during June, although the gap between the two vehicle types narrowed to a little over 3900 vehicles. Australians' appreciation for large vehicles also shone through in the chamber's figures, with SUV sales up by 9.4 per cent to represent 58 per cent of all sales, while light commercial vehicles such as utes made up 25 per cent. Passenger vehicles continued to fall in popularity with buyers, making up just over 15,000 sales or 12.3 per cent of all car sales.

How Anthony Albanese's latest laws will force countless Aussies to start driving electric cars - and the new rules begin within DAYS
How Anthony Albanese's latest laws will force countless Aussies to start driving electric cars - and the new rules begin within DAYS

Daily Mail​

time16-06-2025

  • Automotive
  • Daily Mail​

How Anthony Albanese's latest laws will force countless Aussies to start driving electric cars - and the new rules begin within DAYS

Anthony Albanese 's plan to force Australians to drive an electric car is set to drive up the price of new cars by thousands of dollars and cost dealers $2billion in revenue. Labor's New Vehicle Efficiency Standard comes into force on July 1 - with new penalties included for manufacturers that sell non-EV models. The federal government's plan to reduce carbon emissions by 59 per cent over four years could substantially hurt Australia's 3,700 car dealers if the penalties are passed on to them. A Centre for International Economics report for the Australian Automotive Dealer Association estimates Labor's plan could cost the industry between $1.1billion and $2.1billion from 2025 to 2029, with the potential to affect 68,493 jobs. 'Costs are likely to at least in part be passed on to dealers and customers,' the report said. 'Across all scenarios, dealers are expected to see a decline in profits from new car sales, primarily due to penalties for non-compliance and price drops in the case of full compliance.' The government's NVES scheme would see credits given to car companies that sold more EVs but penalties imposed on manufacturers that sold a higher proportion of larger petrol and diesel utes and SUVs. The Federal Chamber of Automotive Industries estimated Labor's new laws would add $6,150 to the price of a Ford Ranger and $2,720 to a petrol-powered Toyota RAV4 SUV, but also reduce the price of a Tesla Model Y by $15,390. The group's chief executive Tony Weber told Daily Mail Australia that motorists would end up paying more for petrol and diesel cars over the next four years. 'The regulation is designed to distort the market to get people to buy more efficient vehicles and if you don't buy that more efficient vehicle there's going to be penalties in the system,' he said. 'Those penalties will be borne by someone, most likely the consumer. 'We can safely assume - in the whole scheme of things - the increases in prices throughout the system ultimately will come to be borne by the motorist.' The prospect of new rules, designed to encourage Australians to buy more fully-electric cars, is yet to translate into stronger EV sales. The number of Tesla and Polestar EVs sold in Australia plunged by 45.4 per cent this year, when sales for January to May 2025 were compared with the first five months of 2024. The data from the Electric Vehicle Council also showed 70.2 per cent plunge in year-to-data sales of the Tesla Model 3 with just 317 leaving the showroom last month. That's only a fraction of the 1,958 sold in May 2024 and a far cry from 3,593 in February 2024 when the Model 3 was Australia's third most popular car behind the Ford Ranger and Toyota HiLux utes. By comparison, 4,952 HiLuxes were sold last month, compared with 4,761 Rangers, even though these diesel utes both emit 200 grams of carbon per kilometre, making them targets under Labor's new emission-reduction laws. Ford has this year introduced a plug-in hybrid Ranger ute that can tow 3.5 tonnes like a regular diesel model. Chinese carmaker BYD is now the world's biggest producer of electric vehicles. But it's yet to make the top ten list of Australian car brands. Eight of the top ten marques on the Federal Chamber of Automotive Industries sales chart offer a fully-electric car, including Toyota, Mazda, Ford, Kia, Hyundai, GWM, MG and Nissan. Mitsubishi has plug-in hybrid SUVs while only Isuzu, the seller of the diesel-powered D-Max offers no fully electric vehicle in 2025, but an electric version of that ute is coming to Australia next year, as Toyota starts selling a fully-electric HiLux.

Expert Insights: Q&A with FCAI chief executive Tony Weber
Expert Insights: Q&A with FCAI chief executive Tony Weber

Perth Now

time07-06-2025

  • Automotive
  • Perth Now

Expert Insights: Q&A with FCAI chief executive Tony Weber

Australia's first federally mandated automotive emissions legislation, known as the New Vehicle Efficiency Standard (NVES), is now upon us. The NVES officially began on January 1 and there's now less than a month to go before auto brands start accruing financial penalties for exceeding increasingly stringent CO2 limits determined by vehicle type from July 1. Intended to reduce the CO2 emissions of Australia's new-vehicle market overall by incentivising the uptake of more efficient vehicles, the scheme will also award credits to automakers that sell zero- and low-emissions vehicles, creating somewhat of a carbon trading system for the local auto industry. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. Supplied Credit: CarExpert Needless to say this has caused significant friction in the industry, between brands that sell only electric vehicles (EVs) such as Tesla and Polestar, which are members of the Electric Vehicle Council (EVC), and brands that do not. In this exclusive interview with the chief executive of the Federal Chamber of Automotive Industries (FCAI), Tony Weber, the head of the organisation that represents most auto brands in Australia, outlines several problems with the NVES. These include the potential for higher prices for some new vehicles, which the FCAI says could throttle sales, force owners to keep their existing vehicles for longer and slow the total emissions reduction of the 'carpark' of vehicles currently on our roads. The NVES is a policy that aims to reduce emissions from Australia's light vehicle fleet by setting emissions targets for new vehicle sales. Manufacturers that exceed the targets must pay penalties or adjust their model mix to meet future targets. The FCAI has long advocated for an emissions reduction scheme that is ambitious in scope. The scheme must recognise current and projected consumer demand, as well as the unpredictable nature of future technological breakthroughs. Supplied Credit: CarExpert The NVES provides the impetus to supply low-emission vehicles to the Australian market. The great unknown is consumer demand for these products. But the NVES, an extremely ambitious scheme, could result in a lower-than-anticipated uptake of low-emission technologies, which could encourage consumers to hold onto older vehicles for longer. This could have the opposite effect of increasing emissions rather than achieving the policy objective of reducing emissions, while making new cars more expensive. The NVES has already led to the withdrawal of certain internal combustion engine (ICE) models. At the same time, several new market entrants have entered the market in 2024 and 2025, lifting the number of EV models to more than 90. Supplied Credit: CarExpert We expect brands to continue reviewing their product lineups in light of NVES targets and consumer demand. Brands will consider the most efficient mix of low-emissions technologies, including hybrid, plug-in hybrid (PHEV), and battery electric vehicle (EV) offerings. Most important is the Australian consumer's ability to continue accessing the vehicle models and powertrains they want at prices they can afford. It will be up to individual OEMs [automakers] to make decisions on how they manage the cost of compliance across their fleets. This includes adjusting their model mix, purchasing credits, or factoring in the risk of penalties. Many consumers rely on vehicle segments that lack practical EV options and will hold onto their existing vehicles for longer. The large commercial vehicle, large SUV and small vehicle segments are examples where the range of pure battery-electric or plug-in hybrid versions is still limited. The model was produced as an indication of the potential impact of the proposed NVES at that time in 2024. It assumed that if 2023 sales were replicated in 2025 and the out years under the proposed government scenario, there was the potential for significant penalties to apply. Supplied Credit: CarExpert Since that model was produced, legislation was changed and passed in May 2024. OEMs are responding to the NVES by increasing the number of zero- and low-emission vehicles in the market. Given the current level of consumer demand for EVs and their limited availability in a number of vehicle segments, we are concerned about upward price pressures on vehicles as fines accrue under the NVES. Price is just one element buyers consider when purchasing a vehicle. Buyers correctly examine the total cost of ownership (TCO) when buying a car. The TCO includes purchase price, fuel costs, insurance, maintenance and resale residuals. As the scheme commences on July 1, 2025, the need for modelling will be offset by sales data, which will provide real-time information about the scheme, including the accrual of credits and fines. EV ownership costs are predicated on several factors, including fuel costs, purchase price, residual value, insurance costs, and maintenance. Focusing solely on potential savings from fuel costs is misleading. It's too early to predict how credit trading will impact the market, as the decisions of individual OEMs will ultimately drive it. However, given the current demand for EVs among consumers, it's unlikely that sufficient credits will be generated to offset the accumulated debits over the years of the scheme from 2025 to 2029. While there's an increasing number of EV models available in Australia, several segments including large SUVs, LCVs and some small vehicles still have limited EV options. Supplied Credit: CarExpert Without suitable models, consumers may hold onto older vehicles longer, delaying overall emissions reductions. A more balanced transition is necessary to allow technology to catch up, ideally incorporating all forms of zero and low-emission vehicle options. Recent sales data indicate that consumers are increasingly turning to hybrid and plug-in hybrid vehicles as a transitional step toward full battery electric vehicles. Still, these vehicles are unlikely to meet NVES targets after the initial stages of the scheme. In general, the FCAI advocates a technology-neutral approach to transport sector decarbonisation, allowing the market to determine the most efficient and effective method of achieving the government's ambitious carbon dioxide reduction goals. Emissions reduction targets should be approached by engaging all forms of emissions reduction technology. Based on prior analysis by our independent global expert, we expected EVs to account for around 11 per cent of new vehicle sales in 2024. However, the actual result was around 7.0 per cent. Despite the increased availability of EVs, this level of EV penetration is not likely to meet the NVES targets. Many Australians remain unconvinced about the suitability of EVs due to range limitations, charging concerns, and concerns about the total cost of ownership. Supplied Credit: CarExpert Australia's public charging network is underdeveloped, particularly in regional areas, creating range anxiety. In general, EVs remain more expensive than ICE vehicles. There are few options in key segments like utes, 4WDs and small vehicles. There is pressure on residual values, which can be a significant concern for private and fleet buyers. This might be a positive for potential buyers of second-hand EVs but an issue for buyers of new cars, which in turn reduces the number of vehicles entering the Australian market. Increased EV adoption will require significant [electricity grid] upgrades to ensure sustainability. High interest rates and cost-of-living pressures limit consumer purchasing power. Inconsistent federal and state policies create uncertainty for manufacturers. MORE: Australian Government set to make crucial change to emissions regulationsMORE: EV brand urges Australian Government to 'stay the course' on new emissions rules MORE: Customers to wear the cost of new emissions laws

Expert Insights: Q&A with FCAI chief executive Tony Weber
Expert Insights: Q&A with FCAI chief executive Tony Weber

West Australian

time07-06-2025

  • Automotive
  • West Australian

Expert Insights: Q&A with FCAI chief executive Tony Weber

Australia's first federally mandated automotive emissions legislation, known as the New Vehicle Efficiency Standard (NVES), is now upon us. The NVES officially began on January 1 and there's now less than a month to go before auto brands start accruing financial penalties for exceeding increasingly stringent CO2 limits determined by vehicle type from July 1. Intended to reduce the CO2 emissions of Australia's new-vehicle market overall by incentivising the uptake of more efficient vehicles, the scheme will also award credits to automakers that sell zero- and low-emissions vehicles, creating somewhat of a carbon trading system for the local auto industry. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now . Needless to say this has caused significant friction in the industry, between brands that sell only electric vehicles (EVs) such as Tesla and Polestar, which are members of the Electric Vehicle Council (EVC), and brands that do not. In this exclusive interview with the chief executive of the Federal Chamber of Automotive Industries (FCAI), Tony Weber, the head of the organisation that represents most auto brands in Australia, outlines several problems with the NVES. These include the potential for higher prices for some new vehicles, which the FCAI says could throttle sales, force owners to keep their existing vehicles for longer and slow the total emissions reduction of the 'carpark' of vehicles currently on our roads. The NVES is a policy that aims to reduce emissions from Australia's light vehicle fleet by setting emissions targets for new vehicle sales. Manufacturers that exceed the targets must pay penalties or adjust their model mix to meet future targets. The FCAI has long advocated for an emissions reduction scheme that is ambitious in scope. The scheme must recognise current and projected consumer demand, as well as the unpredictable nature of future technological breakthroughs. The NVES provides the impetus to supply low-emission vehicles to the Australian market. The great unknown is consumer demand for these products. But the NVES, an extremely ambitious scheme, could result in a lower-than-anticipated uptake of low-emission technologies, which could encourage consumers to hold onto older vehicles for longer. This could have the opposite effect of increasing emissions rather than achieving the policy objective of reducing emissions, while making new cars more expensive. The NVES has already led to the withdrawal of certain internal combustion engine (ICE) models. At the same time, several new market entrants have entered the market in 2024 and 2025, lifting the number of EV models to more than 90. We expect brands to continue reviewing their product lineups in light of NVES targets and consumer demand. Brands will consider the most efficient mix of low-emissions technologies, including hybrid, plug-in hybrid (PHEV), and battery electric vehicle (EV) offerings. Most important is the Australian consumer's ability to continue accessing the vehicle models and powertrains they want at prices they can afford. It will be up to individual OEMs [automakers] to make decisions on how they manage the cost of compliance across their fleets. This includes adjusting their model mix, purchasing credits, or factoring in the risk of penalties. Many consumers rely on vehicle segments that lack practical EV options and will hold onto their existing vehicles for longer. The large commercial vehicle, large SUV and small vehicle segments are examples where the range of pure battery-electric or plug-in hybrid versions is still limited. The model was produced as an indication of the potential impact of the proposed NVES at that time in 2024. It assumed that if 2023 sales were replicated in 2025 and the out years under the proposed government scenario, there was the potential for significant penalties to apply. Since that model was produced, legislation was changed and passed in May 2024. OEMs are responding to the NVES by increasing the number of zero- and low-emission vehicles in the market. Given the current level of consumer demand for EVs and their limited availability in a number of vehicle segments, we are concerned about upward price pressures on vehicles as fines accrue under the NVES. Price is just one element buyers consider when purchasing a vehicle. Buyers correctly examine the total cost of ownership (TCO) when buying a car. The TCO includes purchase price, fuel costs, insurance, maintenance and resale residuals. As the scheme commences on July 1, 2025, the need for modelling will be offset by sales data, which will provide real-time information about the scheme, including the accrual of credits and fines. EV ownership costs are predicated on several factors, including fuel costs, purchase price, residual value, insurance costs, and maintenance. Focusing solely on potential savings from fuel costs is misleading. It's too early to predict how credit trading will impact the market, as the decisions of individual OEMs will ultimately drive it. However, given the current demand for EVs among consumers, it's unlikely that sufficient credits will be generated to offset the accumulated debits over the years of the scheme from 2025 to 2029. While there's an increasing number of EV models available in Australia, several segments including large SUVs, LCVs and some small vehicles still have limited EV options. Without suitable models, consumers may hold onto older vehicles longer, delaying overall emissions reductions. A more balanced transition is necessary to allow technology to catch up, ideally incorporating all forms of zero and low-emission vehicle options. Recent sales data indicate that consumers are increasingly turning to hybrid and plug-in hybrid vehicles as a transitional step toward full battery electric vehicles. Still, these vehicles are unlikely to meet NVES targets after the initial stages of the scheme. In general, the FCAI advocates a technology-neutral approach to transport sector decarbonisation, allowing the market to determine the most efficient and effective method of achieving the government's ambitious carbon dioxide reduction goals. Emissions reduction targets should be approached by engaging all forms of emissions reduction technology. Based on prior analysis by our independent global expert, we expected EVs to account for around 11 per cent of new vehicle sales in 2024. However, the actual result was around 7.0 per cent. Despite the increased availability of EVs, this level of EV penetration is not likely to meet the NVES targets. Many Australians remain unconvinced about the suitability of EVs due to range limitations, charging concerns, and concerns about the total cost of ownership. Australia's public charging network is underdeveloped, particularly in regional areas, creating range anxiety. In general, EVs remain more expensive than ICE vehicles. There are few options in key segments like utes, 4WDs and small vehicles. There is pressure on residual values, which can be a significant concern for private and fleet buyers. This might be a positive for potential buyers of second-hand EVs but an issue for buyers of new cars, which in turn reduces the number of vehicles entering the Australian market. Increased EV adoption will require significant [electricity grid] upgrades to ensure sustainability. High interest rates and cost-of-living pressures limit consumer purchasing power. Inconsistent federal and state policies create uncertainty for manufacturers. MORE: Australian Government set to make crucial change to emissions regulations MORE: EV brand urges Australian Government to 'stay the course' on new emissions rules MORE: Customers to wear the cost of new emissions laws

Expert Insights: Q&A with FCAI chief executive Tony Weber
Expert Insights: Q&A with FCAI chief executive Tony Weber

7NEWS

time07-06-2025

  • Automotive
  • 7NEWS

Expert Insights: Q&A with FCAI chief executive Tony Weber

Australia's first federally mandated automotive emissions legislation, known as the New Vehicle Efficiency Standard (NVES), is now upon us. The NVES officially began on January 1 and there's now less than a month to go before auto brands start accruing financial penalties for exceeding increasingly stringent CO2 limits determined by vehicle type from July 1. Intended to reduce the CO2 emissions of Australia's new-vehicle market overall by incentivising the uptake of more efficient vehicles, the scheme will also award credits to automakers that sell zero- and low-emissions vehicles, creating somewhat of a carbon trading system for the local auto industry. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. Needless to say this has caused significant friction in the industry, between brands that sell only electric vehicles (EVs) such as Tesla and Polestar, which are members of the Electric Vehicle Council (EVC), and brands that do not. In this exclusive interview with the chief executive of the Federal Chamber of Automotive Industries (FCAI), Tony Weber, the head of the organisation that represents most auto brands in Australia, outlines several problems with the NVES. These include the potential for higher prices for some new vehicles, which the FCAI says could throttle sales, force owners to keep their existing vehicles for longer and slow the total emissions reduction of the 'carpark' of vehicles currently on our roads. What is the NVES in the simplest terms, according to the FCAI? The NVES is a policy that aims to reduce emissions from Australia's light vehicle fleet by setting emissions targets for new vehicle sales. Manufacturers that exceed the targets must pay penalties or adjust their model mix to meet future targets. What will the positive and negative outcomes of NVES be? The FCAI has long advocated for an emissions reduction scheme that is ambitious in scope. The scheme must recognise current and projected consumer demand, as well as the unpredictable nature of future technological breakthroughs. The NVES provides the impetus to supply low-emission vehicles to the Australian market. The great unknown is consumer demand for these products. But the NVES, an extremely ambitious scheme, could result in a lower-than-anticipated uptake of low-emission technologies, which could encourage consumers to hold onto older vehicles for longer. This could have the opposite effect of increasing emissions rather than achieving the policy objective of reducing emissions, while making new cars more expensive. How will the NVES impact the size and model mix of the Australian auto market? The NVES has already led to the withdrawal of certain internal combustion engine (ICE) models. At the same time, several new market entrants have entered the market in 2024 and 2025, lifting the number of EV models to more than 90. We expect brands to continue reviewing their product lineups in light of NVES targets and consumer demand. Brands will consider the most efficient mix of low-emissions technologies, including hybrid, plug-in hybrid (PHEV), and battery electric vehicle (EV) offerings. Most important is the Australian consumer's ability to continue accessing the vehicle models and powertrains they want at prices they can afford. What impact will the NVES have on new vehicle prices, specifically high-emitting utes? It will be up to individual OEMs [automakers] to make decisions on how they manage the cost of compliance across their fleets. This includes adjusting their model mix, purchasing credits, or factoring in the risk of penalties. Many consumers rely on vehicle segments that lack practical EV options and will hold onto their existing vehicles for longer. The large commercial vehicle, large SUV and small vehicle segments are examples where the range of pure battery-electric or plug-in hybrid versions is still limited. Does the FCAI stand by its vehicle price modelling, and will more modelling be undertaken? The model was produced as an indication of the potential impact of the proposed NVES at that time in 2024. It assumed that if 2023 sales were replicated in 2025 and the out years under the proposed government scenario, there was the potential for significant penalties to apply. Since that model was produced, legislation was changed and passed in May 2024. OEMs are responding to the NVES by increasing the number of zero- and low-emission vehicles in the market. Given the current level of consumer demand for EVs and their limited availability in a number of vehicle segments, we are concerned about upward price pressures on vehicles as fines accrue under the NVES. Price is just one element buyers consider when purchasing a vehicle. Buyers correctly examine the total cost of ownership (TCO) when buying a car. The TCO includes purchase price, fuel costs, insurance, maintenance and resale residuals. As the scheme commences on July 1, 2025, the need for modelling will be offset by sales data, which will provide real-time information about the scheme, including the accrual of credits and fines. Would middle-income Australians save up to $3000 annually by switching to EVs, as the EVC claims? EV ownership costs are predicated on several factors, including fuel costs, purchase price, residual value, insurance costs, and maintenance. Focusing solely on potential savings from fuel costs is misleading. How will the credit trading system impact the market? It's too early to predict how credit trading will impact the market, as the decisions of individual OEMs will ultimately drive it. However, given the current demand for EVs among consumers, it's unlikely that sufficient credits will be generated to offset the accumulated debits over the years of the scheme from 2025 to 2029. If the NVES raises ICE prices and drives EV sales, what about buyers without suitable EV options? While there's an increasing number of EV models available in Australia, several segments including large SUVs, LCVs and some small vehicles still have limited EV options. Without suitable models, consumers may hold onto older vehicles longer, delaying overall emissions reductions. A more balanced transition is necessary to allow technology to catch up, ideally incorporating all forms of zero and low-emission vehicle options. Recent sales data indicate that consumers are increasingly turning to hybrid and plug-in hybrid vehicles as a transitional step toward full battery electric vehicles. Still, these vehicles are unlikely to meet NVES targets after the initial stages of the scheme. Has Toyota's relatively slow approach to EVs been vindicated? In general, the FCAI advocates a technology-neutral approach to transport sector decarbonisation, allowing the market to determine the most efficient and effective method of achieving the government's ambitious carbon dioxide reduction goals. Emissions reduction targets should be approached by engaging all forms of emissions reduction technology. Based on prior analysis by our independent global expert, we expected EVs to account for around 11 per cent of new vehicle sales in 2024. However, the actual result was around 7.0 per cent. Despite the increased availability of EVs, this level of EV penetration is not likely to meet the NVES targets. What are the barriers to more widespread EV adoption? Many Australians remain unconvinced about the suitability of EVs due to range limitations, charging concerns, and concerns about the total cost of ownership. Australia's public charging network is underdeveloped, particularly in regional areas, creating range anxiety. In general, EVs remain more expensive than ICE vehicles. There are few options in key segments like utes, 4WDs and small vehicles. There is pressure on residual values, which can be a significant concern for private and fleet buyers. This might be a positive for potential buyers of second-hand EVs but an issue for buyers of new cars, which in turn reduces the number of vehicles entering the Australian market. Increased EV adoption will require significant [electricity grid] upgrades to ensure sustainability. High interest rates and cost-of-living pressures limit consumer purchasing power. Inconsistent federal and state policies create uncertainty for manufacturers.

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