Possible incentives to increase EV sales in the ACT

Bad news here. Under the best scenario, electric cars will make up only 30% of new cars sold in 5 year’s time, and under more likely scenarios no more than between 6-11%. Worse still, under the best scenario, 95% of the ACT fleet will still be fuel guzzling vehicles with internal combustion engines (ICE). The changes are too slow to reduce our greenhouse emissions from transport quickly.

Selling electric vehicles in the ACT is not easy. We almost no public charging options, limited supply and demand is also limited. A recent study from the University of Canberra, shows that dropping the price by half triples the uptake. The more possible measures of stamp duty exemption, $15,000 zero interest loans, and free registration have only a marginal effect. The combination of these measures (first only, first two, then all three) is shown in the chart below.

Chart canberra.bike 8/4/22. Data: What would it take to get Australians to buy electric cars? Canberra provides a guide, The Conversation, 8 April 2022.

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