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Sales slump and policy changes in various countries could be beneficial to Australian motorists, potentially causing prices to plummet.
Drivers can expect electric cars to fall below $20,000 this year, and to see a wider selection of battery-powered vehicles, including more electric pickup trucks and vans.
Everything Electric's global chief executive Dan Caesar made the predictions on Monday, one month before the company's third electric vehicle showcase in Australia and a year he claimed would be a turning point for the nation.
The forecasts come after Australia reported a substantial decline in January sales of new electric cars, despite a year of sustained growth.
and Europe.
While the changes might slow US sales, Mr. Caesar stated that they could prompt more automotive brands to import electric vehicles to Australia at lower prices.
Chinese brands, blocked from the US market with a 100 percent tariff set to begin in 2024, were already increasing competition and reducing prices in the market.
"For places like Australia and the UK, they actually rise up the priority list for Chinese car makers from an export point of view, and that will further drive price reductions," Mr. Caesar told AAP.
We're witnessing Chinese brands that possess remarkable technology, but there is a trade-off in that they are relatively new, and to gain people's trust, they will need to adjust their prices slightly.
Electric vehicles showcased at the event would feature a model from a Chinese manufacturer with a price tag of approximately twenty thousand dollars, he stated, which would set a new record in Australia, where the most affordable electric vehicles currently remain above thirty thousand dollars.
The competition among electric vehicle brands may increase as a result of the global decline in Tesla sales, which was previously the industry leader for several years.
Tesla's sales in Australia have declined by over 30%. Meanwhile, other countries have experienced even larger decreases, with Spain seeing a drop of more than 75%.
Although the decline is unfavorable for the pioneering company, Mr. Caesar noted that it may serve as an opportunity for both new and established brands to reach a wider audience.
"My analysis suggests that Tesla may be facing a perception issue linked to Elon Musk, but I'd like to observe the situation over the next couple of months to confirm this," he said.
'Tesla has a remarkably faithful customer base and their retention rate is impressively high, so if some of those customers are in play again, that's a significant number of potential consumers for the new brands.'
Up to six new electric vehicle models will be unveiled at the Sydney Showground car show, taking place from March 7 to 9. The event will showcase electric utes, vans, motorcycles, and marine vessels, with a total of 7500 test drives available.
As of 2011, over 240,000 electric vehicles have been sold in Australia, as reported by the Electric Vehicle Council. However, battery-powered cars accounted for only 4.4 percent of new car sales last month.
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