Electric vehicles are moving from niche to mainstream, with a record number of Australians choosing electrified cars.
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.
That’s the highest share on record.
Rising fuel costs, expanding model choice and government incentives have all helped push EV adoption higher.
The cost equation is changing
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.
Questions worth asking
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.
Awesome can help you compare the financing costs of different vehicle options and understand how they fit into your broader budget.