Used EV Prices Surge in Australia Amid Fuel Crisis

Consumers seek alternatives as petrol prices soar, driving up demand for secondhand electric vehicles.

Apr. 12, 2026 at 11:13pm

Got story updates? Submit your updates here. ›

Heavily blurred, sweeping streaks of color in shades of blue, white, and silver, conceptually representing the dynamic motion of an electric vehicle amid the fuel crisis.The fuel crisis has accelerated the adoption of electric vehicles, with used EV prices surging as consumers seek alternatives to traditional combustion-engine cars.Leominster Today

The Australian fuel crisis has sparked an unexpected shift in the automotive market, with the secondhand electric vehicle (EV) market experiencing an unprecedented surge in demand and prices. As petrol prices soared, consumers began seeking alternatives, leading to a rise in used EV prices, particularly for Tesla's Model Y. The enthusiasm for EVs is not limited to the secondhand market, with rental platforms also witnessing a significant increase in EV bookings. This shift reflects a growing consumer mindset that prioritizes the rational economic benefits of EVs over the minor inconveniences.

Why it matters

Australia has historically lagged behind other countries in EV adoption, but the recent fuel crisis has accelerated the transition, with consumers embracing the technology across the secondhand, rental, and new vehicle markets. This shift highlights the potential turning point in Australia's mobility landscape as the country moves towards a more sustainable and cost-effective transportation future.

The details

The upward trajectory of EV prices in the secondhand market is a unique phenomenon, as used vehicles typically depreciate over time. Jake Sale, founder of MotorMetrics, notes that the demand for used EVs is driving dealers to increase their asking prices, with the Tesla Model Y seeing a 6% price increase in just two weeks. The enthusiasm for EVs is also reflected in the rental market, with a 70% increase in EV bookings compared to the previous year. Rob Chan, managing director of Turo Australia, describes this shift as a unique wave of consumer interest, akin to the post-pandemic 'revenge travel' trend.

  • In March 2026, there was a 161% lift in weekly loan volume for new battery electric vehicles.
  • Over 454,000 battery electric and plug-in hybrid vehicles are now on Australian roads, with a market share of around 13% for new purchases.

The players

Jake Sale

The founder of MotorMetrics, a company that tracks the automotive market.

Rob Chan

The managing director of Turo Australia, a car rental platform.

Peter Esho

An economist who suggests that EVs are now a credible option for many passenger vehicles and that the current crisis will exponentially accelerate their adoption.

Har Rai Singh

A Sydney motorist who shares his experience of testing the waters with EV rentals before making a purchase decision.

Electric Vehicle Council

An organization that reports on the state of the electric vehicle market in Australia.

Got photos? Submit your photos here. ›

What they’re saying

“While people talk about waiting for chargers, now we've got people waiting for petrol pumps, and waiting to pay more than $100 to fill up a tank. It doesn't make sense to me any more to hold on to a combustion engine.”

— Har Rai Singh, Sydney motorist

“This shift is particularly notable for Tesla's Model Y, which saw a 6% price increase in just two weeks.”

— Jake Sale, Founder, MotorMetrics

“We've got people waiting for petrol pumps, and waiting to pay more than $100 to fill up a tank. It doesn't make sense to me any more to hold on to a combustion engine.”

— Har Rai Singh, Sydney motorist

What’s next

As the dust settles from the fuel crisis, the Australian government is expected to announce new incentives and policies to further accelerate the adoption of electric vehicles and support the development of a robust charging infrastructure across the country.

The takeaway

The Australian fuel crisis has served as a catalyst for a significant shift in the country's automotive market, with consumers increasingly embracing electric vehicles as a practical and cost-effective alternative to traditional combustion-engine cars. This transition is expected to continue gaining momentum, shaping the future of mobility in Australia.