Electric vehicle prices in Australia remain high, starting at twice the cost of low-budget petrol cars and many priced at six figures. Now, results from a new survey have revealed that, while price is the major purchase barrier for 84 per cent of Australians, 46 per cent would consider switching to an EV in an arrangement with their employer.
The Novated Lease Australia survey results also found that nearly half (46 per cent) of respondents would switch to an electric vehicle if they were offered a novated lease through their employer, as such an arrangement would reduce the purchase price and running costs of the vehicle.
Younger Australians are more likely to switch to an electric vehicle under a novated lease agreement to reduce costs: more than half (59 per cent) of under-30s indicated they would, compared with 32 per cent of over-51s.
Shaun McGowan, Founder and Managing Director at Novated Lease Australia, says: “Our research highlights that novated leases are on the rise this year. Electric vehicle prices still have a long way to go to drop to a level that competes with petrol cars, yet an increasing proportion of the public and business sector are becoming more carbon conscious.”
“Conscious of this price barrier, State and Federal Governments are financially incentivising organisations and motorists to make the switch. Perhaps now is the time for organisations that are sustainability-minded to add novated lease agreements for electric vehicles into their decarbonisation strategies.
The full survey results, including age and State breakdowns, can be found here: novatedleaseaustralia.com.au/electric-cars/ev-price-study