More electric cars were sold in 2024 compared to 2023. While the growth in EVs wasn’t as strong as expected, the volume in the Top 10 new cars shows the manufacturers that were ready to meet the increased demand from novated lease buyers taking advantage of the FBT Exemption.
Looking at the electric vehicles listed in the table below, it highlights the varied demographics of EV buyers. As expected, Tesla was in first place with the Model Y and Model 3. If you’re an EV enthusiast and want everyone to know you’ve switch sides, a Tesla is the car to buy.
The MG4 secured third place thanks to a massive price drop in the third quarter which helped MG Motor reduce stock levels and satisfy their masters at HQ. Sales went from 3,772 September YTD to 6,935 for the full year.
BYD is staking a claim for the top spot in 2025 with three models making the Top 10 in 2024. The BYD Seal is the closest comparison to a Model 3, and it appears to be stealing a share of sales with buyers wanting the same but different. The Atto 3 is still holding ground in the Top 10 but sales declined 47% in 2024 compared to 2023. BYD has made a bold start to 2025 by announcing a new EV model, Sealion 7, and they have added a new variant to the Dolphin range that is priced to attract fleet buyers in large numbers.
BMW should be acknowledged for its push into the EV market by providing a luxury offer to novated lease buyers. It quickly seized the opportunity to price several models below the threshold to qualify for the FBT Exemption so buyers could experience European luxury from a traditional car manufacturer, while also reducing their personal carbon footprint. Getting two models into the Top 10 is a great achievement.
| Rank | Make/Model | Sales |
| 1 | Tesla Model Y | 21,253 |
| 2 | Tesla Model 3 | 17,094 |
| 3 | MG MG4 | 6,935 |
| 4 | BYD Seal | 6,393 |
| 5 | BYD Atto 3 | 5,751 |
| 6 | BMW iX1 | 2,618 |
| 7 | Volvo EX30 | 2,129 |
| 8 | BYD Dolphin | 2,116 |
| 9 | BMW i4 | 2,062 |
| 10 | Kia EV6 | 1,785 |
