Australia’s EV market just hit a historic high, with nearly half of all new cars sold in Q2 being electric or hybrid—driven by soaring gas prices and shifting consumer preferences. Fully electric vehicles surged from 12% to over 21% market share, finally outselling hybrids for the first time. Gas-powered car sales plummeted from 64% to just over 50%. Politicians are now questioning whether costly government subsidies—now totaling over a billion dollars instead of the projected $600 million—are still necessary, as tax breaks begin phasing down next April. Meanwhile, dealers are urging regulators to update laws to protect buyers of overseas EVs as the auto landscape evolves.
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