Electric vehicle (EV) sales in Australia are on track to flatline by the end of 2024 – and may fail to grow year-on-year for the first time since 2016 – amid a cooldown in demand for battery-powered cars.
It is despite more choice in the electric car market than ever before – and drastic price cuts that have seen the most affordable models limbo beneath $35,000 drive-away for the first time.
Deliveries of electric cars declined for the fourth month in a row in September 2024, as the popularity of hybrid vehicles booms amid concerns around driving range and accessibility of EV charging stations.
The sum is $8,000 lower than its recommend price in August and comes despite strong sales for the vehicle in Australia.
The price cut makes the MG4 Australia’s cheapest electric car, followed by the MG SZ EV ($34,990) that had a price reduction in August, and the GWM Ora hatchback that held the title after a price cut in April ($35,990).
The MG Motor Australia chief commercial officer, Giles Belcher, said the lower price was designed to encourage motorists on the fence about buying an electric car to make the move.
“We know that people may have been considering an EV but potentially have held off due to the cost,” he said.
ensures all buyers who had been thinking of making the switch to an EV now can thanks to the lower entry point.”
