Car Yards Empty As EV Sales Surge in Australia
Why it matters: Australian consumers are rapidly adopting EVs, leading to a four-month wait for new Tesla Model Ys and sold-out inventory at BYD and Hyundai dealerships.
- EV sales are surging in Australia and New Zealand due to rising petrol and diesel costs and uncertainty about future price peaks, with search numbers doubling weekly.
- Car sale yards are being emptied of electrified vehicles, and waiting lists are growing longer, while prices for second-hand EVs have also increased, according to mainstream media and anecdotal reports.
- BYD dealerships are experiencing massive demand, with one selling 31 cars in a single morning and another reporting sales of up to 800 cars per day in Queensland, prompting orders for 30,000 extra units.
- Hyundai dealerships have also "cleaned out their yard of hybrids and EVs," as reported by former employees, reflecting a broad industry trend.
- Tesla's Model Y now has a four-month waiting list for delivery in Australia, with delivery centers packed and staff overwhelmed by demand.
- Petrol prices in Australia sit around AU$2.30 per litre, and diesel at AU$3, even after a federal government reduction of 26 cents per litre on excise, fueling the shift to EVs.
Australia is experiencing an unprecedented surge in Electric Vehicle (EV) sales, driven by escalating petrol and diesel prices, leading to empty car yards, growing waiting lists, and increased prices for second-hand EVs. Dealerships across various brands like BYD, Hyundai, and Tesla are reporting sold-out stock and significant order backlogs, with some selling hundreds of cars daily.
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