The electric vehicle market in New Zealand is experiencing a significant surge, with second-hand and demo EVs being rapidly snapped up by consumers. As a result, car yards across the country are reporting empty lots and struggling to keep up with demand. This trend has been observed in Australia as well, where EV sales have seen a substantial increase in recent times.
Car yards are now advertising for second-hand stock, highlighting the high demand for electric vehicles. The situation is so dire that some dealerships are struggling to maintain their inventory levels, leaving them vulnerable to supply chain disruptions.
According to Warren Willmot, General Manager for BYD in New Zealand, the company has seen a significant increase in sales over the past few months. In January, he sold 87 electric vehicles, a substantial increase from the pre-war period when the company was selling around 300 units per month.
The surge in EV sales can be attributed to various factors, including concerns about fuel availability and government regulations. With petrol prices reaching NZ$3.50 in Auckland, many consumers are opting for electric vehicles as a more sustainable alternative.
BYD is experiencing a higher order rate than other competing brands, with the company selling an equal number of plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs). This shift towards PHEVs can be attributed to the growing awareness about the limitations of EVs in certain regions.
The company's sales figures are a testament to the growing demand for electric vehicles in New Zealand. With 300 cars arriving in April and another 600 expected to arrive in May, BYD is confident that it will continue to meet the high demand for its products.
Despite the challenges posed by supply chain disruptions, BYD remains committed to expanding its operations in New Zealand. The company's General Manager for Asia and Pacific has promised to source additional cars from countries like Thailand and Singapore if necessary.
The low stock levels of EVs have raised concerns about the sustainability of the current market trends. However, experts argue that the increased demand for electric vehicles is a positive sign for the industry, indicating a shift towards more sustainable transportation options.
As the demand for electric vehicles continues to rise, it will be interesting to see how car yards and dealerships adapt to meet this growing demand. With BYD leading the charge, it is likely that we will see more players entering the market in the coming months.
