-- Singapore and Australia have one thing in common – they’re island nations who love their cars. Apart from that, they couldn’t be any more different! Just like any modern country, they are both looking to transition from Internal Combustion Engine (petrol/diesel/gas) vehicles to Electric Vehicles (EVs). Each country has its own advantages and challenges to EV take-up – with Australia having over 7.7 million square kilometres to cover and Singapore 0.01% the size in comparison (734.3 square kilometres) here is the state of EV sales in Singapore versus Australia.
Singapore EV statistics
According to the Land Transport Authority of Singapore, citizens registered 5,468 EVs in 2023, a 50.5% increase over the 3,634 sold in 2022. This represents 18.1% of total car registrations in the Republic in 2023, compared with 11.7% in 2022. According to Mordor Intelligence, the Singapore Electric Vehicle market was valued at US$98.67 million in 2021 and is projected to grow at a CAGR of 32.73% through to 2029.
Australia EV statistics
According to the Australian Automobile Association, Australian sales stats show they bought 54,659 electric vehicles over 2023; 28,708 were hybrid electric (HEV), 21,474 were battery electric (BEV), 4,476 were plug-in hybrids (PHEV) and one was a Hydrogen Fuel Cell electric vehicle. This represents 18% of all light passenger cars sold in Australia over 2023 were some form of EV. Further data shows there are currently 72,685 BEVs and 362,403 hybrid and PHEVs registered out of 19.3 million registered vehicles.
Despite having very different demographics and land masses, the number of cars sold in both countries are largely identical. (18.1% SGP vs 18% AUS.)
Singapore electrification efforts
Singapore’s government is leading EV charging infrastructure with 1,800 public charging stations across the island and is aiming to add 60,000 charging sites by 2030. The government also incentivised take up of EVs from January 2021 through to the end of December 2023 by offering a 45% rebate off the additional registration fee tax.
Australia electrification efforts
The Australian commonwealth government applies a luxury car tax (LCT) to new passenger vehicles priced at over $76,950 with the threshold increased to $89,332 if the vehicle’s fuel consumption totals less than 7 litres per 100 kilometres, which represents a saving in $4,086.06 in LCT for a threshold-priced low or zero emissions vehicle.
The government also offers exemptions on Fringe Benefits Tax for zero emissions vehicles or plug-in hybrid vehicles. Vehicles that quality saves employees novated leasing these vehicles up to $4,700 per year. The Clean Energy Finance Corporation also offers discounted car loans to purchase EVs valued under $90,000 which saves buyers between $1,400 and $2,500 on loan repayments.
Australia also has a “Driving the Nation” fund worth $500 million (AUD), helping deliver 117 EV chargers across highways in Australia, a hydrogen refuelling network, and encouraging EV infrastructure by giving grants for remote and apartment living people to install EV charging stations.
Compared against the world
Around the world, about 1 in 7 new cars sold were electric vehicles in 2022 (14%). Norway was the leader in EV sales, with 88% of new cars sold being one form of electric vehicle. This was followed by Sweden on 54%, Germany on 31%, and China on 29%.
This means that Singapore and Australia are slightly ahead of the world average, beating the United States (8%) and India (2%).
With more efforts and incentives being poured into EVs, as well as prices coming down as economies of scale develop, we could see the numbers of EVs sold increase in both Singapore and Australia over the coming years.
Contact Info:
Name: Savvy
Email: Send Email
Organization: Savvy.com.au
Address: Lvl 1, 145, The Parade, Norwood, SA, 5067, Australia
Website: http://www.savvy.com.au
Release ID: 89125526
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