During the past six months, used electric vehicles are taking on average 36 days to sell, while used petrol vehicles are taking nearly double the time at 57 days, says Cars For Sale founder Kadir Gunduz.
“Used car dealers are buying more used electric vehicles than ever before. Used EVs are hot right now and hard to find,” he adds.
Cars for Sale has more than 600 dealerships nationwide.
“In the first three months of 2022, used car dealers on average have bought as many used EVs as they did in the whole of 2021.”
Toyota and Lexus are the clear leaders in used hybrid vehicle sales.
“We’re seeing EVs from Tesla making their way through the used car cycle and they’re selling very quickly compared to other vehicles in their price range,” Gunduz explains.
“Chinese made EVs are rapidly expanding in Australia – Teslas are also coming from China, for example. With BYD Auto launching in February and deliveries starting in July, we’re going to see even more Chinese brands on the road very soon.”
Actual delivery dates and wait times are long and in some cases indefinite, says Gunduz.
“Right now, it’s extremely hard to get a new ICE vehicle and even more difficult to get an EV.”
Gunduz says a fuel excise cut in this year’s federal budget measures will deliver immediate relief, but it won’t deliver long term relief.
High fuel prices, high used car prices, and long wait times on new cars all give consumers many reasons to switch to an EV, he believes.
“Long wait times are also giving consumers as much time as they need to think and save. For example, you might want to buy a new petrol vehicle now but decide that waiting six to 12 months isn’t worth it when you could just go electric.
“We’re seeing state governments take up the responsibility of incentivising EVs for consumers while the federal government is making it pretty clear they won’t be paying for manufacturers to do the ‘right thing’.
“If manufacturers don’t pick up their own game in the coming years, I expect the Australian Government will implement taxes as an incentive for manufacturers to get it right.”
Asked whether some EV manufacturers are not coming to Australia yet because of the federal government’s stance and lack of emissions strategy, Gunduz believes that’s probably those EV manufacturers just coming up with excuses to divert from their own shortcomings.
“You’ll find anyone not bringing their EV here probably can’t affordably produce them yet or they have difficulties with mass production – all ultimately leaving them to focus on their core markets first before they take the leap in Australia.
“This has nothing to do with incentives and everything to do with capacity. The potential for growth of EVs in Australia is very positive.”
Cars For Sale expects new and used EV sales in Australia to keep accelerating as existing on-road EVs are traded-in for new ones, and as brands deliver more affordable EV options to consumers.
“Infrastructure for EVs is what will get them mainstream,” adds Gunduz who has more than 20 years’ experience in the automotive industry.
“Society is ready to go back to the drive-in movies again, but this time they’ll be charging their EV at the same time.”
He expects social activities around cars will return while drivers wait for them to charge and grab a bite to eat.
“Things are going to change rapidly and the longer the consumer waits, the more options they’ll have and the better the infrastructure will be.”
Click here for a list of EVs available in Australia.
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