Australian new-vehicle sales figures for the first quarter of 2024 continue to show an increase in electric vehicle (EV) and hybrid sales. The figures also show a decrease in the market share of internal combustion engine (ICE) vehicles. Battery electric vehicle (BEV) and hybrid new-vehicle sales continue to grow. Both segments recorded record market share in the three months to March 31.
The AAA EV Index online data dashboard, produced by peak Australian motoring body the Australian Automobile Association, analyses all new light-vehicle sales across the country.
In national new light-vehicle sales from Q4 2023 to Q1 2024:
- ICE sales fell by 8.03 per cent and ICE market share dropped to 78.18 per cent, going below 80 per cent for the first time.
- BEV sales continued to grow strongly, reaching 8.70 per cent market share, but they were outsold by hybrids, which recorded record sales volume and market share (11.95 per cent).
- Plug-in hybrid vehicles (PHEVs) and hydrogen fuel-cell electric vehicles (HFCEVs) still have very small market shares. Collectively, ICE vehicles, BEVs and hybrids accounted for 98.7 per cent of the quarter’s total new light-vehicle sales.
Sales figures over the five quarters confirm a clear trend of growth for BEVs and hybrids and a gradually shrinking market share for ICEs. It will be interesting to see what the next year or so produces in the way of sales here in Australia. We think a lot will depend on stock availability and future vehicle range and charge times.
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