Incentives For New Electric Vehicle In Australia
Interest in electric vehicles is increasing in Australia, but uptake is still significantly behind the global average. According to Savvy, electric vehicles now comprise 1.6 per cent of all new car registrations. However, this is nowhere near the global average of 9 per cent.
Savvy Managing Director and car finance expert, Bill Tsouvalas, believes that interest in electric cars will continue to increase.
“People are prepared to buy now and wait for delivery to get the car they want. While electric vehicles are still on the expensive side, sky-high fuel prices are making the decision to go electric easier and easier. If petrol prices stay this way and the expected influx of more affordable EVs finally hits our shores, you can expect EV uptake to skyrocket,” he said.
To encourage Australians to take up the greener auto alternative, state governments have developed incentive schemes. The ACT is the most generous, offering the highest total approximate incentive ($5,840). New South Wales, Queensland, South Australia and Victoria all offer $3,000 subsidies, while the Northern Territory is yet to announce its scheme. Tasmania does not offer an incentive scheme, but will waive the usual four per cent stamp duty on all electric vehicles until 1 July 2023.