August 5th, 2022, Lesley Simeon
Chair of Tesla, Inc., Robyn Denholm, has claimed that the brand’s electric vehicle (EV) sales in Australia are gaining momentum and the number of its cars in the country might even double by the end of 2022. As of today, Australia has 26,500 Tesla EVs on the road.
But with the most affordable Tesla model – the Model 3 - being offered at a price tag of $65,500 in the country, how much are Australians willing to splurge on a new car?
For most of them, $54,999 is the limit. Data from YouGov Profiles - which covers demographic, psychographic, attitudinal and behavioral consumer metrics – shows that 44% of Australians will spend anywhere between $25,000 and $54,999 on a new car.
Nonetheless, about 20% of Australians expect to spend $55,000 to $84,999 , while 8% of consumers would spend more than $85,000 on a new car, giving Tesla a significant market for its EVs.
Although Denholm painted an optimistic future for Tesla’s EVs in Australia, she also highlighted what she understands to be the ‘biggest obstacle to more rapid uptake of EVs’ in the country – lack of fast charging stations.
According to YouGov’s Profiles, while insufficient charging stations is a significant dampener for the widespread adoption of EVs in Australia, it is not the only issue Australian consumers are factoring in. For 26% of Australians who intend to buy a new car, the initial high cost of purchasing an EV is the most discouraging factor.
Among those who intend to buy a new car this year, 30% of Australians plan on buying an EV, while petrol engines are the top preference (55%) among respondents.
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Methodology: YouGov Profiles is based on continuously collected data and rolling surveys, rather than from a single limited questionnaire. Profiles data for Australia is nationally representative and weighted by age, gender, education, region, and race. Learn more about Profiles.