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Used Electric Vehicle Prices Rise in Australia Amid Fuel Price Increases
Prices for used electric vehicles in Australia have increased as fuel prices rose in March, leading to higher demand for EVs. Dealers reported repricing models like the Tesla Model Y upward by more than 6%, while used diesel and petrol vehicle prices fell.
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Australia experienced rising petrol prices across capital cities in March, according to data from Informed Sources. Prices increased almost daily before a government fuel excise cut led to a decline. This oil crunch has affected vehicle markets, with used electric vehicle (EV) prices rising while prices for used diesel and petrol vehicles dropped.
Dealers have repriced used EVs upward, as reported by MotorMetrics, a Perth-based firm analyzing vehicle inventory. The Tesla Model Y saw a price increase of more than 6% in the last two weeks of March. Other models, including the Tesla Model 3, MG4, and Polestar 2, also experienced price rises.
Jake Sale, founder of MotorMetrics, stated that such increases are unusual and indicate confidence in sustained demand for used EVs.
Stock of used EVs has decreased, according to MotorMetrics data. In contrast, prices for several used diesel and petrol vehicles were reduced by up to 20%. Rental demand for EVs and hybrids has risen 70% compared to the same period last year, per Turo Australia. Rob Chan, managing director of Turo Australia, noted that bookings for these vehicles surged following the fuel price increases.
Many Australians canceled Easter road trip plans due to concerns over diesel shortages or high unleaded prices. Some travelers opted for EV rentals instead. Har Rai Singh, a Sydney motorist, rented EVs through Turo to test them for longer distances before purchasing. He reported minor issues, such as non-functional charging points and the need for multiple apps, but plans to buy an EV.
Australia has lagged in EV adoption compared to countries like Canada and New Zealand, partly due to past political divisions. However, sales have accelerated recently, with more than 454,000 battery electric and plug-in hybrid electric vehicles on roads at the end of 2025, according to the Electric Vehicle Council.
The EV market share reached about 13% of new vehicle purchases, expected to grow with more models entering the market and improved charging infrastructure.
