There was an outsized surge in new vehicles sold in August, caused in large part because supply chains are starting to catch up on standing orders.
10,940 new passenger cars were sold in August, the most for any August, and 2,557 were pure electric vehicles, a 23% share. In addition there were 627 PHEVs and 1,626 petrol hybrids sold. That means new energy vehicles grabbed a 44% share in August. This transition is now fully underway and happening much faster than many would have guessed.
The largest number of fully electric cars sold were Teslas, who delivered 1,326 vehicles in August. There were also 448 BYD Alto 3s sold in the month. these two took almost 70% of all the pure electric market.
Across all models, SUVs accounted for 74% of all passenger car sales.
The commercial market is much more subdued, in the shadow of the huge March burst. But the electrification of tradie utes is upcoming, and the electric version of the Ford Ranger is likely to energise this market sometime soon as well.
All up, there were 22,624 imported new or used cars sold in August, the most since pre-pandemic. In the year to August, that is 282,000 and a substantial reason we run a trade deficit. Essentially, we sell milk for cars.
The growth of new energy vehicles is the bold new trend. It will also be interesting to watch the value of used ICE cars as this trend develops.
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