Key stats: 2025-26 financial year
- Average EV loan size: $48,902
- Average EV loan interest rate: 9.04% p.a.
- Average monthly EV loan repayment: $1,016
- Median EV loan size: $45,696
- Median EV loan interest rate: 8.32% p.a.
- New EVs purchased: 103,843 (H1 2026)
The tide is beginning to turn on EVs in Australia as more and more people have started to go electric for their new car purchase. After all, the first half of 2026 has already seen the number of EVs sold pass 2025's annual total, according to the Federal Chamber of Automotive Industries (FCAI).
So, what are the trends we're seeing as electric adoption continues to grow across the country? We've dug deep into the numbers across a range of metrics to break down the stats that matter for EVs in Australia.
2026 EV sales statistics Australia
- The combined number of EVs, PHEVs and hybrids sold in Q2 2026 almost reached the number of ICE vehicles sold across the quarter
- 103,843 new EVs have been purchased in Australia in the first half of 2026, eclipsing the 103,270 sold across the entirety of 2025
- BYD was the most popular EV manufacturer, with its 29,192 units shifted well ahead of Tesla (23,588) in second place
- However, the Model Y was far and away the most popular model at 20,396, with the BYD Sealion 7 (12,516) its nearest competitor
- More than one in three EVs financed through Savvy in the 2025-26 financial year was a Tesla (34.2%), while over one in four was a BYD (27.6%)
The overwhelming favourites for Savvy customers financing an EV were Tesla and BYD in the 2025-26 financial year. Combined, they accounted for more than three out of five EV loans approved through Savvy across the 12-month period, with one in three being Teslas and one in four being BYD models.
Interestingly, a sizeable market share was held by Jaecoo, who are still very much newcomers to the Australian market but have managed to capture a big slice of the pie in a short period. That's largely off the back of the J5, which has rocketed to fourth among all EV models for new car sales in the first half of 2026.
Polestar, Kia and Zeekr were the best of the rest, with the latter two also proving popular among the general Australian public so far this year. They sit fourth and sixth in the YTD new EV sales rankings, respectively, with the Zeekr 7X and Kia EV5 leading the way for their manufacturers.
EV market share Australia
- Australia’s overall EV fleet sat at more than 370,000 as of June 2025, according to the EVC, but has likely far exceeded 500,000 12 months later
- 4% of all new cars sold in the first half of 2026 were electric, more than double the market share they enjoyed in H1 2025 (7.9%)
- Across Q2 2026, more than one in five new cars sold (21.0%) were EVs and almost one in two was at least partially electrified (49.2%)
There’s no doubt that EVs’ share of the market is growing. In June, 35.8% of all new cars sold were electric, according to the EVC. The push towards EVs has been due in large part to skyrocketing fuel prices, which have placed an increasing number of Aussies under the pump.
Average EV loan: 2025-26
- The average loan taken out for an EV through Savvy in the 2025-26 financial year was $48,902, with an average rate of 9.04% p.a.
- The average monthly EV loan repayment based on these figures was $1,016 (five-year term)
- The median loan size and rate were $45,696 and 8.32% p.a., respectively
| 2025-26 | Loan amount | Loan term | Interest rate | Monthly repayment | Interest payable |
|---|---|---|---|---|---|
| All car loans | $37,346 | 5 years | 12.72% p.a. | $844 | $13,318 |
| All EV loans | $48,902 | 5 years | 9.04% p.a. | $1,016 | $12,063 |
| New EV loans | $51,362 | 5 years | 8.49% p.a. | $1,054 | $11,849 |
| Used EV loans | $42,015 | 5 years | 10.59% p.a. | $905 | $12,281 |
| Interest rates based on average rate available for each profile type through Savvy in the 2025-26 financial year. These aren’t necessarily reflective of the rates you’ll receive on your car loan. Calculations are for illustrative purposes only and don’t include costs such as loan fees, motor vehicle duty or other government charges. | |||||
The average car loan taken out for an EV through Savvy across the 2025-26 financial year was more than $11,500 above the overall average, while the rate of 9.04% p.a. was well below the 12.72% p.a. most customers paid.
Each of these factors is simple to explain. Firstly, the used EV market is still very much in its infancy, meaning most EVs financed were either new or near new. By contrast, around two thirds of all of Savvy’s car loans were for used vehicles.
Secondly, not only are interest rates lower for new cars compared to used, but EVs typically qualify for discounted rates. These are offered through green car loan products and incentivise car buyers to opt for a more environmentally friendly vehicle.
How many Australians will buy an EV?
- 36.0% of Aussies would consider switching to an EV as their next vehicle, according to Savvy’s EV Sentiments Survey from May
- However, this number has fallen from the 41.3% who were entertaining the purchase in 2023
- The number of people unlikely to buy one has risen markedly from 16.2% in 2023 to 28.2% in 2026
- 48.6% of prospective buyers believe EVs should be more affordable, down from 76.3% in 2023
Which state or territory has the most EVs?
- NSW has the most EVs registered of any state or territory in Australia (over 100,000 as of November 2025) and has had the highest number of new EVs purchased between Q1 2022 and Q2 2026 (133,871)
- However, the ACT’s EV sales have consistently made up the greatest percentage of its new car sales, peaking at 40.1% in Q2 2026
- The ACT is also the only part of Australia where EVs have outsold ICE vehicles, having done so in Q2 2026 (2,060 vs 1,514)
- Canberra has the highest number of chargers per 100,000 people (83.78) and overall share of EVs (3.06% of all cars)
How much does it cost to charge an EV?
- Over the span of a year, an EV could cost $1,000 or more less to charge than an ICE vehicle would to refuel
- The difference is most pronounced among ICE models with lesser fuel economy and EVs with longer range, as is the case with the Model Y ($392 per year) and the Mitsubishi Outlander ($1,517)
| Model | Fuel type | Fuel economy/range | Battery | Annual cost |
|---|---|---|---|---|
| Mazda3 G20 Pure | Petrol | 5.9L/100km | N/A | $1,193 |
| Toyota Corolla Hatch Ascent Sport | Hybrid (petrol) | 4.0L/100km | N/A | $809 |
| BYD Dolphin Premium | Electric | 427km | 60.48kWh | $556 |
| Mitsubishi Outlander | Petrol | 7.5L/100km | N/A | $1,517 |
| Toyota RAV4 | Hybrid (petrol) | 4.8L/100km | N/A | $971 |
| Tesla Model Y | Electric | 600km | 60.00 kWh | $392 |
| Ford Ranger XL 4X4 | Diesel | 7.6L/100km | N/A | $1,704 |
| BYD Shark 6 | PHEV (petrol) | 100km | 29.58 kWh | $1,161 |
| KGM Musso EV | Electric | 380km | 80.60 kWh | $832 |
| Calculations based on a car driven 12,000km annually. Petrol and diesel cost estimates are based on the 2025-26 national price averages of $1.685/L and 1,868/L, respectively, per the Australian Institute of Petroleum (AIP). Charging costs based on the average $0.327/kWh electricity price obtained via Canstar. | ||||
There’s no single answer about how much it’ll cost to charge your EV, as it comes down to several key variables. These include:
- Your car’s range and battery size
- The cost of electricity in your city or state/territory
- How often you drive your car (the less you drive, the less often you’ll need to charge it)
- Whether you have solar panels (which can drastically cut back the amount you pay for power)
Which EV has the biggest battery range in Australia?
- The BMW iX3 is currently the EV with the longest battery range in Australia, claiming up to 805km through WLTP testing
As of August 2026, the top EVs for driving range are:
| Rank | Model | Max. range (WLTP) |
|---|---|---|
| 1 | BMW iX3 50 xDrive | 805km |
| 2 | Tesla Model 3 Long Range RWD | 750km |
| 3 | Polestar 3 Long Range Single Motor | 706km |
| 4 | Polestar 5 Dual Motor | 678km |
| 5 | Polestar 2 Long Range Single Motor | 659km |
| 6 | MG IM5 Platinum RWD | 655km |
| 7 | Polestar 3 Long Range Dual Motor | 647km |
| =8 | Porsche Macan (base/2WD) | 641km |
| =8 | Audi Q6 e-tron performance | 641km |
| =10 | Porsche Taycan 4S | 635km |
| =10 | Mercedes-Maybach EQS 680 | 635km |
| =10 | BMW iX3 40 | 635km |
Although the BMW iX3 50 xDrive is the only model on our roads boasting a range above 800km, that’s about to change when the new i3 hits the market. The electric sedan will claim up to 900km of range to place itself right at the front of the queue.
