Is Australia’s EV sales surge a one-off or a structural shift? The clue is in the order backlog
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Australia has seen a record surge in electric vehicle sales, with EVs making up 14.5% of total car sales in March. The surge is attributed to a structural shift in the market, driven by volatile global oil markets and increasing demand for environmentally friendly vehicles.
Australia's electric vehicle sales have reached a record high, with 14.5% of total car sales in March being EVs. The surge is led by Chinese car makers, with BYD selling 4,206 fully electric cars in March. BYD now has an order backlog of over 10,000 units in Australia. Other car makers, including Tesla and Toyota, are also reporting huge interest in EVs. The demand for EVs is driven by volatile global oil markets and increasing environmental awareness. The industry is expecting a continued growth in EV sales, with Toyota forecasting a five-fold increase in sales of its bZ4X model.
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