Electric vehicles are moving from niche to mainstream, with a record number of Australians choosing electrified cars.
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According to VFACTS data, 20% of all new vehicles sold in May were battery electric vehicles, while 46% were electrified vehicles when hybrids and plug-in hybrids are included.
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That’s the highest share on record.
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Rising fuel costs, expanding model choice and government incentives have all helped push EV adoption higher.
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The cost equation is changing
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Generally:
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EVs cost more upfront – but often cost less to run and maintain.
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Traditional vehicles are usually cheaper to buy – but often have higher ongoing fuel costs.
The right option depends on how long you expect to keep the vehicle and how much you drive.
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Questions worth asking
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Before making a decision, consider:
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Your budget.
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Charging availability.
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Expected annual kilometres.
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Servicing and running costs.
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Resale value.
For some households, an EV may save money over the long term. For others, a traditional vehicle may still be the better fit.
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Awesome can help you compare the financing costs of different vehicle options and understand how they fit into your broader budget.