Australia’s electric vehicle market is heating up with the recent fuel price rise.

Fuel Prices

The war in Ukraine has had global impacts on oil production and supply have hit the Australian petrol prices hard. 

From a price just over $1.60 Litre less than a month ago, to over $2.20 Litre now has hit the hip pocket of all Australians with Internal Combustion Engine (ICE) vehicles. 

It is hard to fathom paying over $100 dollars a tank of fuel for your average car.

Tipping point

I have spoken of the tipping point in a few blogs in the past one like “EV Opportunities for Australia“. It has always been looking when that tipping point might be.

There is no doubt anymore that the tipping point has passed. Now with the added pressure of the increased fuel prices, the demand for electric vehicles has hit new heights. 

EV ordering Today

To give you some idea here is the availability of vehicles in the Australian marketplace if you ordered today. 

• Tesla 
  • Model 3 – delivers in 6 – 9 months
  • Model S – delivers in Jul – Sept 2022(3 – 6 months)
  • Model X – delivers in Dec 2022 – Mar 2023 (7 – 10 months) (https://www.tesla.com)
• Nissan Leaf 
  • Leaf – Delivers in – 117 days ( https://pricemycar.com.au/delivery-dates/nissan/leaf)
• BYD
  • ATTO 3 – delivers in August 2022 (5 months) (https://evdirect.com.au/configurator/yumq_IJ_NC20jiX_Dh6dE9JxPZalUyvl5f9kcHfZLlqpgUhr2lIeNFTT0Mw6HeMr?ref=website)
• Volvo 
  • XC40 – Deliveries February 2023 (10 months) ( https://www.carexpert.com.au/car-news/volvo-xc40-recharge-pure-electric-sold-out-until-2022)
• Hyundai
  • Ioniq 5 – Delivery in 3-6 months ( https://www.drive.com.au/news/electric-car-wait-times-in-australia/)
• KIA
  • EV6 – delivery 2025 ( https://www.drive.com.au/news/electric-car-wait-times-in-australia/)

With the limited supply in Australia and ordering times taking many months even years is it any wonder that the prices of the used car market for electric vehicles have jumped significantly. 

Hope

But don’t lose hope. Electric vehicles are proving they have a future far greater than the ICE cousins. They will only increase in demand until the market has enough supply for the demand. 

Companies like Tesla are increasing their manufacturing volume to meet this demand. With Giga Factories in Berlin, Germany and Austin, Texas USA out of which will be produced, initially, the Model Y Tesla is doubling down on supply. 

The Model Y is not yet available in the Australian market but once it is able to be ordered it will undoubtedly become the most sort after vehicle. 

Next time

One of the greatest challenges for purchasing an electric vehicle is the price. Check out my next blog where I talk price and how the government is attempting to help. 

Dave