EVs are holding value better than expected – and it has a lot to do with Australia’s cost of living — SkimNews
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- Pickles auction in late March attracted thousands of bidders to 40 concrete-damaged but repairable BYD EVs, with general manager Brendon Green calling the resulting prices "incredible" amid fuel price spikes tied to the US-Israel war on Iran.
- Written-off EVs with pre-accident values up to $40,000 fetched 16% more than comparable combustion models when sold for parts and second-life batteries, while repairable write-offs commanded a 71% price premium.
- Pickles battery testing of more than 2,750 used EVs found five-year-old models retain 93% charge capacity, with former ride-share vehicles exceeding 230,000 km still rated at about 89%.
- Federal Chamber of Automotive Industries data shows more EVs than petrol-only cars were sold in September, supported by an influx of low-priced Chinese auto brands entering the Australian market.
- Turo Australia reported EV and hybrid bookings grew 28 times faster than petrol and diesel over the past year, prompting hosts to source secondhand EVs to meet surging customer demand.
- Electric Vehicle Council head of policy Aman Gaur said cost-of-living — not climate — now drives EV adoption, with high uptake in commuter hubs like Tarneit, 30km west of Melbourne.
Why it matters: Used combustion vehicles now face steeper depreciation risk as EVs retain 93% battery capacity at five years and command 71% premiums at auction — a dynamic the EV Council says is driven by household budgets rather than climate concern, with outer-suburban commuter hubs leading uptake.
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