Powering ahead: Unveiling the 2023 Electric Vehicle Sales

January 29, 2024

Australians bought two and a half times more electric vehicles in 2023 than the year prior – for a total close to 90,000 – a figure two and a half times higher than the preceding year, driven by the introduction of a wave of new and more affordable models.

Title: Australia’s Electric Vehicle Market Doubles in 2023

Australia witnessed an unprecedented surge in its electric vehicle market in 2023, with sales doubling to a staggering 87,217 units, marking a 161.1% increase from the previous year. While Tesla maintained its dominance with a 52% market share, there was a slight reduction from the previous year’s 59%, as more affordable models entered the market, intensifying competition.

Top-Selling Models:

The Tesla Model Y emerged as the leader in sales, boasting an impressive 28,000 units sold. Following closely were the Tesla Model 3 and the BYD Atto 3 SUV with 17,347 and 11,042 deliveries, respectively. Notably, non-Tesla electric cars outpaced Tesla’s growth, experiencing a remarkable 197.5% surge, indicating a growing demand for diverse and affordable electric vehicle options in Australia.

The adoption of electric vehicles is swiftly gaining traction in Australia, witnessing a remarkable 161% surge in sales compared to 2023.
Source / Federal Chamber of Automotive Industries

New Entrants and Shifting Preferences:

Newcomers like the MG 4 electric hatchback made a significant impact, securing the fourth position in full-year sales with 3,134 deliveries. Priced competitively at $38,990 plus on-road costs, the MG 4 presented an attractive option for consumers. Other affordable models, including the BYD Dolphin and GWM Ora, also entered the market, reflecting a dynamic shift in consumer preferences.

While the MG ZS EV, a small SUV, recorded a total of 2,794 sales in 2023, it faced declining quarterly sales, indicating changing market dynamics. The evolving landscape emphasizes the need for continuous adaptation in the rapidly expanding electric vehicle market.

For the second consecutive year, the Kia EV6 stood out as the best-selling electric vehicle not built in China, reporting 1,831 sales – a remarkable 225% increase from its 2022 performance.

The Future of Electric Vehicles in Australia:

The electric vehicle landscape in Australia is undergoing a transformative period, marked by impressive sales figures, evolving market dynamics, and the emergence of new contenders. As consumer preferences shift and the market continues to diversify, the future promises exciting developments in the realm of electric mobility. The remarkable growth in 2023 lays a strong foundation for a sustainable and vibrant electric vehicle market in Australia

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