Electric and hybrid vehicles reach 30 percent of Australian new car sales

Electric and plug-in hybrid vehicles accounted for 30 percent of new car sales in Australia in May, according to the Electric Vehicle Council. Tesla's Model Y was the top-selling model that month. Lower upfront prices and improved resale values have reduced previous obstacles. At least five electric models are now priced at or below $30,000, all from Chinese brands.

Market shifts Chinese manufacturers now hold more than half of Australia's electric vehicle market, Commonwealth Bank analysis shows. Brands including BYD and GWM-owned Haval have increased their share. Used electric vehicles are retaining more value. Three-year-old Tesla Model 3s that previously sold in the low-$30,000 range now sell closer to $40,000, auction house Pickles reported.

Infrastructure concerns A lack of public charging stations remains the main barrier to wider adoption, particularly for commercial vehicles such as electric trucks, the Commonwealth Bank noted this week. The rise in May sales partly reflected orders placed in March when fuel prices increased after the start of the US-Israel conflict with Iran.