It seems Canberra’s love for electric and hybrid vehicles is only accelerating, with new figures showing the ACT is leading the charge nationally. Buying EVs at a rate almost triple the national average.
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00:00 Buying his fifth EV in 2023 was an easy decision for Peter Campbell.
00:07 Initially the motivation was just reduced emissions, but once you've got an EV you realise they're a lot more fun to drive.
00:14 The hip pocket also had a say.
00:16 Start charging.
00:18 We were definitely stretching to buy this car and the several thousand dollars of reduced stamp duty was certainly an advantage.
00:26 And we do take into account that it's a lot cheaper to run.
00:30 Peter is part of a growing cohort of Canberrans making similar decisions.
00:35 His EV was one of three and a half thousand bought in the ACT last year.
00:39 That was 18% of all vehicles sold and almost tripled the 2022 numbers.
00:44 And it's miles ahead of the national figures.
00:47 Quite a remarkable number and the ACT is out of step for the rest of the country with a much higher penetration of EVs.
00:53 There are a few reasons for the difference, including high salaries.
00:57 Canberra are a lot wealthier than other jurisdictions across the country.
01:01 Also the access to recharging.
01:03 The ACT government says incentives have helped.
01:06 Right now in the ACT you can get a zero stamp duty, two years of free registration and also an interest free loan of up to $15,000 to help with the upfront costs.
01:16 Despite the boom, EVs and hybrids still only account for 5% of all vehicles on the road in Canberra.
01:22 So with a long way to go and incentives set to taper off, attention is turning to next steps.
01:28 We've come to that tipping point where the volume of vehicles coming in is really starting to drive for some competition.
01:34 The used EV market will evolve, we will see that naturally.
01:38 A growing market that will help more drivers join the expanding EV club.
01:43 [BLANK_AUDIO]