Used electric car sales double as soaring fuel prices drive huge buyer demand
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Used electric car sales in Australia have more than doubled in March due to soaring fuel prices, with the Tesla Model 3 being the best seller. The surge in demand has led to a 38% plunge in available stock, with just 28.6 days of supply nationally.
Australia's used electric vehicle market has seen a significant surge in sales, with a 100% increase in March compared to February. The Tesla Model 3 was the top seller, followed by the Tesla Model Y and the MG4. The MG4 saw the biggest increase, with 490 models sold in March, up from 114 in February. The new car market also experienced an uptick in sales, with over 15,839 new battery electric vehicles sold in March. The growth in the used car market is largely driven by rising fuel prices and the conflict in the Middle East. As a result, prices for used EVs are pushing back up after months of softening.
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