EV market share triples as car sales hit record high

A total of 140,058 new vehicles were sold across all sources in June, marking the highest monthly sales figure ever recorded in Australia, according to new data from the Federal Chamber of Automotive Industries (FCAI).

However, the most significant shift has come from the electric vehicle market, with battery electric vehicles (BEVs) accounting for 23.3 per cent of sales from all sources in June.

This compares with just 7.6 per cent in June last year and 8.4 per cent in January 2026 – an almost threefold increase in six months.

Additionally, according to the mycar Mobility Index, 46 per cent of Australians now say their next vehicle purchase will be a hybrid or EV, up from 36 per cent in 2025.

Separate research from finance comparison site Savvy found 37.5 per cent of Australians were considering an EV in response to rising fuel prices.

However, despite the record month for new car sales, affordability pressures appear to be creating a growing divide between buyers.

Finder research released in April found 65 per cent of Australians viewed a new car as the single most unaffordable purchase, ranking it above petrol, home insurance, and mortgage costs.

The mycar Mobility Index also found one in five Australians had shelved plans to upgrade their vehicle indefinitely, while 21 per cent now favoured buying second-hand rather than new.

Speaking to Broker Daily, brokers have reported mixed conditions, finding that while consumer demand for EVs was pushing upwards, business demand had not noticeably changed.

Home owners drive EV finance

Car finance data from Savvy between March and June 2026 showed buyers financing EVs and hybrids were disproportionately likely to own property.

Three-quarters of EV buyers and 86 per cent of hybrid buyers were property owners, compared with 53 per cent of petrol and diesel buyers.

Savvy managing director Bill Tsouvalas said the record sales figures were masking a “much harder reality” for many Australian buyers.

“In reality, it’s a tale of two markets,” Tsouvalas said.

“Our data shows that the people best positioned to make the switch to an EV or hybrid right now are those who already own property. That group is moving quickly to lock in lower running costs.

“The other is holding off, not because they don’t want to upgrade, but because the economics don’t work for them right now.

“Home owners just need to remember not to put their car on their mortgage or they risk paying near double for the car.”

[Related: New broker growth program tackles AI search shift]

Want to see more stories from trusted news sources?
Make Broker Daily a preferred news source on Google.