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Cheap EVs: buy now before prices rise
If you’re contemplating making the move to an electric vehicle (EV), the time might be right now.
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5 min readDrive
If you’re contemplating making the move to an electric vehicle (EV), the time might be right now.
Published
3 min read
Text size
Published
Text size
After nearly two years of slower-than-anticipated sales growth, which has led to widespread discounting in order to reduce supplies of unsold vehicles, demand for EVs in Australia is expected to grow considerably on the back of soaring oil prices.
As new-car buyers look to alternatives, there is a burgeoning number of affordable EVs at or near price parity with their ICE counterparts, including the BYD Atto 1, MG4, Geely EX5 and Mazda 6e.
Some models from China are starting as low as $24,000, while there are 15 from under $40,000 and now over 80 available from under $60,000.
According to the Electric Vehicle Council CEO, Julie Delvecchio, there has never been a better time in Australia’s history to go electric.
“The latest (oil price) spike underscores a simple truth: as long as Australia relies on imported oil, households remain exposed to global shocks beyond our control,” she said in a statement.
“EVs help families cut their transport costs by up to $3000 per year, and most of that saving comes from avoiding the cost of petrol, which is currently over $2 a litre.”
But it isn’t only fuel prices that are threatening to go up.
Earlier this year, the Australian federal government launched a statutory review of its Electric Car Discount Scheme (ECDS), due to cost blowouts that are some 15 times their original forecasts, with the findings to be made public by the middle of next year.
Ironically caused by the large uptake of eligible EVs since being implemented in December, 2022, as it excludes them from the Fringe Benefits Tax via a novated lease, the scheme will reportedly cost $1.35 billion to maintain this financial year.
At the very least, this means that widespread changes are expected to be implemented to the ECD, including lowering the EV price threshold, tightening up on eligibility and abolishing the five per cent import duty exemption.
As the peak national body representing the electric vehicle industry in Australia, it is unsurprising that the Electric Vehicle Council is calling for the federal government to reconsider making any cuts to the EDCS, claiming it has added 114,000 additional EVs on our roads to date.
“The Electric Car Discount has been instrumental in making EVs more affordable for everyday Australians, particularly through reducing the upfront cost barrier,” Delvecchio said.
“Retaining the Electric Car Discount is more important than ever. The policy, which is under review, is helping Australians switch to EVs, giving them more control over their household budgets.”
Note that the Western Australian government's $3,500 Zero Emission Vehicle (ZEV) rebate for purchasing new EVs under $70,000 ceased on May 10, 2025.
Plenty of unsold EVs, at discounted prices, are still available in Australia right now. With fuel prices as volatile as they are and federal government incentives still in place, this situation is not set to last.
