EV sales June 2024: Are drivers backing away from EVs?

Whilst it’s clear that EVs cost less to power than equivalent hybrid, petrol and diesel-powered cars cost to fuel, it would at first glance appear that drivers are backing away from EVs, after the latest figures from Vfacts showed EVs made up 8.3 per cent of sales in June after reaching nearly 10 per cent in February and March.

But looking more closely at Vfacts' latest data, EV sales were up by 16.5 per cent to 50,905 (including Polestar, which no longer reports to Vfacts) compared to the same time in 2023.

This was a greater rise than the increase in car sales across all powertrains, which by comparison were up just 8.7 per cent (633,369 car sales compared to 581,759 the year before.) Petrol sales were down 7.3 per cent while hybrid sales doubled (81,613 year-to-date in June compared with 38,270 for the same period the year before.) 

Importantly, electric sedans accounted for one in five sold, on par with hybrids. However, electric SUVs accounted for just 8.3 per cent - less than half that of hybrids. Additionally, 260,000 more petrol and diesel-fuelled SUVs have poured onto the market since January, further adding to transport-related carbon emissions.

The Tesla Model Y bounced back to number one after bowing into second place in May to its stablemate, the Tesla Model 3.

It also proved the fifth best-selling vehicle for the month overall, with 2906 sales following the Ford Ranger 4x4 (5842 sales), the Toyota Hilux 4x4 (4976 sales), the Toyota RAV4 (3907 sales) and the Mitsubishi Outlander (3045 sales).

BYD sales continue to flourish, with 706 Seal electric sedans landed in June, gaining third place. This was along with 305 BYD Atto 3 compact SUVs and 204 Dolphin electric hatchbacks which brought BYD’s 2024 sales just over the 9000 mark – nearly triple that of MG’s 3300 plus sales.

Although MG as a brand is lagging, it still gained fifth place with its MG4, which saw 394 sales for the month. June figures for the MG ZS EV are yet to be confirmed (MG reports these to Vfacts under the ZS name, which includes its internal combustion engine powertrains.)

Following Tesla, BYD and MG, the BMW i4 also proved a consistent seller for June, achieving 316 sales and bringing its year-to-date numbers to 1,177. The Kia EV6 followed at number eight with 158 sales, tipping over the 100 mark for the year.

As did the Volvo EX30, which in just three months has jumped into the top ten. With another 420 EX30 sales in June, Volvo has now sold 1001 of its compact electric SUV, bringing the brand’s electric market share to 53 per cent. 

Nor the first time since January, EV sales fell below 20 per cent of all new car sales in the ACT to 16.9 per cent, as growing hybrid sales took a larger share of the vehicle sales pie. With the capital territory’s two-year free rego carrot ending in June, there are less EV incentives in the ACT on the table to go all-electric.

That said, as the state moves to emissions-based registration, EV owners will save around $250 a year for an average medium electric SUV compared to a similar hybrid.

In Victoria, EV sales overtook that of NSW for the first time this year (2603 compared with 2569 sales in NSW.) Nevertheless, NSW still led the way with 6.8 per cent EV market share, the highest outside of the capital territory.