BEV SALES IN NEWZEALAND GREW AT A CAGR OF 49% FROM 2017-2023 & 3% DURING 2023-2024
As of January 2025, NewZealand boasted an EV fleet of 116,355. Of this, 35,734 were PHEV while BEVs stood at 80,621. During a period from Jan-Dec’2024 a total of 6542 new BEVs & 3484 new PHEVs were registered in the country.
In NewZealand, passenger cars account nearly 97% of the BEV fleet size as of Jan’2025.Nearly 6346 new BEV cars were registered in the country from a period Jan-Dec’2024. Some of the leading e-car brands in the country are – BYD, Tesla, BMW, Polestar, Nissan, Kia & GWM.
During Jan’2025 – a total of 562 new e-cars were registered in the country, of which 122 units were of BYD, 46 were of BMW, 38 were of Polestar & 36 were of GWM.
EV Targets of NewZealand
- By 2030, NewZealand targets to have 550,000 EVs on the road & 62% of the light EV registrations
- By 2035, 100% of new & second-hand cars entering the fleet are electric 38% of the total light vehicle fleet are EVs
- By 2035, NewZealand plans to have 30% of the light fleet are zero-emissions vehicles
The average market share of EVs in NewZealand- Split across regions (Average share 2022-2025)
- Auckland accounts average 9.5% of the EVs fleet size of NewZealand (2022-25). During 2022, Auckland accounted about 11% of EVs in th country-increased to 14% in 2023 & declined to 6% in 2024.
- Wellington, home to maximum number of EVs in the country, accounted 17.6% of total EVs in 2022-increased to- 23% in 2023 & declined to 10% in 2024.
- Tasman, accounts average 10.4% of the EVs fleet size of NewZealand (2022-25). During 2022, Tasman accounted about 11.8% of EVs in th country-increased to 19.7% in 2023 & declined to 4% in 2024.
- Nelson, accounted 11.1% of total EVs in 2022-increased to-18.9% in 2023 & declined to 6.7% in 2024.
- Canterbury, accounted 9.5% of total EVs in 2022-increased to-16% in 2023 & declined to 5.4% in 2024.
- Northland, accounted 12% of total EVs in 2022-increased to-15.6% in 2023 & declined to 3% in 2024.
- Otago, accounted 11.2% of total EVs in 2022-increased to-15.6% in 2023 & declined to 4% in 2024.
PILING EV STOCKS, NEWZEALAND OBSERVED FALL IN DEMAND
“Key Reason- Discontinuation of Clean Car Discount in NewZealand since Jan 1, 2024”
New Zealand’s electric vehicle (EV) market is facing a severe surplus as demand continues to decline, largely due to the end of the Clean Car Discount and the introduction of road user charges. EV sales plummeted by 74% in 2024, from 21,611 units in 2023 to just 6,748. This dramatic drop caused EV market share to fall from 14.2% in 2023 to 5.2% in 2024. Despite efforts by importers to stimulate interest, primarily through substantial price reductions, no electric vehicles made it into the top 15 passenger models, highlighting the scale of the downturn.
The overall automotive market also struggled in 2024, with total sales dropping by 13.5%, from 148,973 to 128,828 units. This trend represents a steeper decline of 21.8% compared to 2022. While the industry faced challenges, there was a slight improvement in December 2024 sales, with a modest increase of 547 units compared to the same month in 2023. Nonetheless, the broader decline underscores the continued difficulties faced by the New Zealand car market, especially for electric vehicles.
