Step into the dynamic realm of electric vehicles (EVs) as the Australian Electric Vehicle Council report released this month unveils the most significant EV events in 2023.
The report showed new electric vehicle (EV) purchases in Australia soared by over 100% in 2023 compared to the previous year, catapulting the total number of EVs on Australian roads to a staggering 180,000 and counting!
This surge marks yet another milestone in the EV market's meteoric rise, maintaining a trend of doubling in size each year since 2020. The Electric Vehicle Council report stated much of this growth can be attributed to the Australian EV industry, which has played a pivotal role by responding to these policies, making EVs more affordable, and expanding model options. Additionally, we have seen proactive measures undertaken by the Federal and some state governments to promote EV adoption as well as establishing the rollout of a national charging infrastructure.
As the EV market matures, EV sales volumes increase by 98,436 vehicles in 2023—inevitably, the exponential growth rate will gradually taper off. Nonetheless, with sustained policy backing, the Electric Vehicle Council report quotes it remains optimistic that the market can still achieve a remarkable 30-50% annual growth rate. Such growth is vital for meeting our climate targets and also for slashing fuel costs for Australian consumers.
Impressively, the Australian Capital Territory (ACT) stands out as a beacon of EV adoption, extending its lead by surpassing the 20% mark in EV market share—reaching an impressive 21.9% by the end of 2023. This milestone underscores the territory government's unwavering commitment to EV policies, paving the way for other regions to follow suit. Across the nation, every state and territory witnessed robust growth in EV sales. NSW secured second place with a 9.0% market share, closely followed by Queensland at 8.3%, Victoria at 8.0%, Tasmania and Western Australia at 7.8% each, South Australia at 6.8%, and the Northern Territory at 3.2%. Notably, the Northern Territory tripled its EV sales in 2023 compared to the previous year, demonstrating significant progress despite its unique challenges as a remote jurisdiction with a small population.
The Electric Vehicle Council report quotes the outstanding commitment the Queensland Government has made with its EV focus and extends its congratulations for its leadership in offering the country's largest EV rebate, encouraging further EV adoption.
However, whilst there are positives, it's crucial to address recent setbacks. The premature withdrawal of EV incentives by the governments of New South Wales, Victoria, and South Australia in 2023 is concerning, especially considering the distance we have yet to travel to meet our climate targets. While Victoria's abolishment of the EV tax provides some relief, the overall trend is worrying. The Electric Vehicle Council report urges all Australian governments to continue supporting EV uptake until at least 30% of new vehicle sales are EVs nationwide, after which incentives can be gradually phased out.
In conclusion, while there's much to celebrate, there's also work to be done. Let's keep driving towards a greener, more sustainable future—one electric kilometer at a time!
To review the Australian Electric Vehicle Industry Recap 2023 report in full, head to the Electric Vehicle Council website - https://electricvehiclecouncil.com.au
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