Australia, which has been among the most hesitant countries to embrace electric vehicles, is starting to see a surge in the number of Teslas on its roads in recent months. The supply chain issues that had caused lengthy wait times of up to nine months for new Tesla orders and inflated the prices of second-hand Model 3s to A$130,000 ($87,000) have mostly dissipated. Today, a top-range Model 3 Performance ordered in Sydney for A$90,300 could arrive within a week, and the same holds true for the US market.
The second-hand market for Teslas is also starting to stabilize. In August, owners of nearly-new Model 3s were able to sell them for between A$130,000 and A$138,000, more than one-third above the price of a new one, to eager buyers. Nowadays, there are many used Model 3s available on Australia's carsales.com, some of which are only a year old and are selling for less than the price of a new one. According to the website, there is not a single used Model 3 in Greater Sydney selling for over A$100,000.
The Australian electric vehicle (EV) market has been slow to take off due to political resistance and low demand. However, supply chain issues that have plagued the EV market are improving, prompting carmakers to prioritize Australia for new models. The current Labor administration has also introduced tax exemptions on new EVs and is examining fuel-efficiency standards that could promote the use of EVs.
Former Prime Minister Scott Morrison previously criticized the power and range of EVs for political gain, causing the market to lag behind other countries. However, Tony Weber, CEO of the Federal Chamber of Automotive Industries, is optimistic about the future of EVs in Australia, stating that fuel-efficiency standards will increase demand and boost the volume and range of EVs available in the country. Although some supply chain issues still exist, improvements are underway, and the market is starting to show signs of growth.