EV Sales Surge Amid War, Fuel Prices

0:00Electric vehicle sales spiked 50% right after the war with Iran kicked off as drivers ditched high fuel costs at the pump. In March, EVs made up 14.6% of all new car sales nationwide, 1 in 7 vehicles, with 15,839 units moved out of 108,000 total. That was up from 11.8% in February and way higher than 7.5% last March. Models like the BYD Celian 7 saw sales jump 48.5% monthly and 244% yearly while others like, the Kia EV5 doubled. Motorists are reacting by switching from petrol to EVs or hybrids to save cash, with BYD reporting 10,000 orders and plans to double shipments. Here's soon. Meanwhile, big diesel SUVs like the Ford Ranger and Toyota Hilux held steady despite a slight dip in the Ranger. Fuel prices eased a bit after the government have the excise tax, dropping petrol over 31 cents per liter in Sydney and Melbourne to around $2.26.

1:06But diesel fell less and prices remain well above earlier levels, stoking inflation that hit 4.4% underlying last month. Economic hits are spreading, with services activity slowing and households facing tougher spending ahead amid the war's ripple effects could push more. Folks toward EV's long term, if infrastructure catches up, stay informed with Sydney news today, AI-powered updates. I'm Corey with The Story.