Electric car sales up 120% on last year, says Electric Vehicle Council

The newly released State of Electric Vehicles Report for July 2023 is promising for EV enthusiasts, showing electric cars as making up 8.4% of new car sales so far in 2023, up 120% compared to 2022.
As of the end of June 2023, sales for EVs had hit 46,624, which is more than 3 times as many were purchased in the same period last year.
There are now 91 models of electric cars, vans, and utes available in Australia – up from 70 last year and only 31 in 2021. While electric vehicle options are expanding, the majority of new EV purchases (68%) are made up of 3 models (and 2 by Tesla): the Tesla Model Y, the Tesla Model 3, and the BYD Atto 3.
The ACT still leads Australia in green car uptake, with electric vehicles comprising 21.8% of new cars purchased. This is helped by their leading amount of subsidies, but growing government schemes and lower rate green car loans could make electric cars more affordable nation-wide.
Concerns around electric vehicle infrastructure remain, with rising electricity prices being a major concern in Australia. Similarly, concerns remain around the number of public charging stations. There has been a 57% increase in ultra-fast charging stations, but these remain mostly clustered around high density metropolitan areas.
While electric vehicles do generally have a higher price barrier to entry than petrol or diesel powered vehicles, they are an important step in moving towards net zero carbon emissions. Electric cars could save you money, with the cost of an EV estimated at roughly $5,000 less than a comparable combustion engine car over a 5 year span.
If you’re interested in making the switch to an electric car, you can start comparing below or take a look at Mozo’s best car loans.
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Better Car Loan
Fixed, Secured
Interest rate
comparison rate
Monthly repayment5.99% p.a.6.40% p.a.based on $30,000
over 5 yearsThis competitive fixed rate car loan is available for new and used cars, as well as caravans, motorcycles, boats and trailers. Just note, you must be borrowing a minimum of $20,000 to apply. You can make unlimited additional repayments on this car loan without paying a fee, so you could pay your loan off sooner. If needed, you can also redraw those extra payments at any time. No monthly or annual fees apply.
Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 5.99% would cost $35,085.67 including fees.
CompareCompare- Interest rate
- 5.99% p.a.
- comparison rate
- 6.40% p.a.based on $30,000
over 5 years
- Interest rate
- 5.99% p.a.
- comparison rate
- 6.40% p.a.based on $30,000
over 5 years
- Upfront fees
- $295.00
- Monthly fee
- $0.00
- Exit fee
- $0.00
- Repayment options
- Weekly, Fortnightly, Monthly
- Early repayment penalty
- $0.00
- Minimum loan amount
- $20,000.00
- Maximum loan amount
- -
- Minimum loan term
- 1 Year
- Maximum loan term
- 7 Years
- Security required
- Vehicle
Read reviews and learn more about Police Credit Union car loans
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Used Car Loan
Fixed, Secured, No vehicle age limit, $5,000-$100,000
Interest rate
comparison rate
Monthly repayment6.28% p.a.to 18.99% p.a.6.28% p.a.to 21.78% p.a.based on $30,000
over 5 yearsGet a competitive fixed interest rate on a secured used car loan of up to $100,000 depending on your credit score. No vehicle age limits. Easy online application. Fast pre-approval. Pre-approved funds held for 1 month. No monthly account keeping fees, no exit fees and no early repayment fees. Flexible weekly, fortnightly or monthly repayments on terms from 1 to 7 years.
Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 6.28% would cost $35,033.88 including fees.
CompareCompare- Interest rate
- 6.28% p.a.to 18.99% p.a.
- comparison rate
- 6.28% p.a.to 21.78% p.a.based on $30,000
over 5 years
- Interest rate
- 6.28% p.a.to 18.99% p.a.
- comparison rate
- 6.28% p.a.to 21.78% p.a.based on $30,000
over 5 years
- Upfront fees
- On Application
- Monthly fee
- $0.00
- Exit fee
- $0.00
- Repayment options
- Weekly, Fortnightly, Monthly
- Early repayment penalty
- $0.00
- Minimum loan amount
- $5,000.00
- Maximum loan amount
- $100,000.00
- Minimum loan term
- 1 Year
- Maximum loan term
- 7 Years
- Security required
- Vehicle
Read reviews and learn more about OurMoneyMarket car loans
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New / Demo Car Loan
Variable, Secured
Interest rate
comparison rate
Monthly repayment5.99% p.a.7.12% p.a.based on $30,000
over 5 yearsLow variable car loan rate for purchasing new and demo vehicles from dealers. Personalised loan amounts between $5,000 and $150,000. Flexible repayment options. Choose between the 3 to 7 year loan terms. Good credit history. Stable employment history and Australian citizenship or PR required.
Repayment terms from 3 years to 7 years. Representative example: a 5 year $30,000 loan at 5.99% would cost $35,670.67 including fees.
CompareCompare- Interest rate
- 5.99% p.a.
- comparison rate
- 7.12% p.a.based on $30,000
over 5 years
- Interest rate
- 5.99% p.a.
- comparison rate
- 7.12% p.a.based on $30,000
over 5 years
- Upfront fees
- $400.00
- Monthly fee
- $8.00
- Exit fee
- $0.00
- Repayment options
- Weekly, Fortnightly, Monthly
- Early repayment penalty
- $700.00
- Minimum loan amount
- $5,000.00
- Maximum loan amount
- $150,000.00
- Minimum loan term
- 3 Years
- Maximum loan term
- 7 Years
- Security required
- Vehicle
Read reviews and learn more about loans.com.au car loans
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Mozo experts choice awards won:
- Australia's Best Personal Loans - 2025
New Car Loan
up to 4 years old, Fixed, Secured
Interest rate
comparison rate
Monthly repayment5.99% p.a.6.34% p.a.based on $30,000
over 5 yearsFast online conditional approval. No monthly account fee. Unrestricted additional repayments. No penalty for early payout, and a fast application process. Borrow up to $125,000. Apply online in under 10 minutes.
Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 5.99% would cost $35,040.67 including fees.
CompareCompare- Interest rate
- 5.99% p.a.
- comparison rate
- 6.34% p.a.based on $30,000
over 5 years
- Interest rate
- 5.99% p.a.
- comparison rate
- 6.34% p.a.based on $30,000
over 5 years
- Upfront fees
- $250.00
- Monthly fee
- $0.00
- Exit fee
- $0.00
- Repayment options
- Weekly, Fortnightly, Monthly
- Early repayment penalty
- $0.00
- Minimum loan amount
- $2,000.00
- Maximum loan amount
- $125,000.00
- Minimum loan term
- 1 Year
- Maximum loan term
- 7 Years
- Security required
- Vehicle
Read reviews and learn more about IMB Bank car loans
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New Car Loan
Fixed, Secured, $5,000-$100,000
Interest rate
comparison rate
Monthly repayment6.28% p.a.to 18.99% p.a.6.28% p.a.to 21.78% p.a.based on $30,000
over 5 yearsGet a competitive fixed interest rate on a secured new car loan of up to $100,000 depending on your credit score. Easy online application. Fast pre-approval. Pre-approved funds held for 1 month. No monthly account keeping fees, no exit fees and no early repayment fees. Flexible weekly, fortnightly or monthly repayments on terms from 1 to 7 years.
Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 6.28% would cost $35,033.88 including fees.
CompareCompare- Interest rate
- 6.28% p.a.to 18.99% p.a.
- comparison rate
- 6.28% p.a.to 21.78% p.a.based on $30,000
over 5 years
- Interest rate
- 6.28% p.a.to 18.99% p.a.
- comparison rate
- 6.28% p.a.to 21.78% p.a.based on $30,000
over 5 years
- Upfront fees
- On Application
- Monthly fee
- $0.00
- Exit fee
- $0.00
- Repayment options
- Weekly, Fortnightly, Monthly
- Early repayment penalty
- $0.00
- Minimum loan amount
- $5,000.00
- Maximum loan amount
- $100,000.00
- Minimum loan term
- 1 Year
- Maximum loan term
- 7 Years
- Security required
- Vehicle
Read reviews and learn more about OurMoneyMarket car loans
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* WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
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