Plug-in hybrid electric vehicles (PHEVs) have experienced a remarkable surge in popularity in Australia during 2024, with sales growth outpacing both conventional hybrids and fully electric vehicles (EVs). This trend highlights a shifting landscape in the Australian automotive market as consumers explore various electrified options.
Sales Growth: PHEV sales up 120.5% from January to September 2024 compared to the same period last year. Hybrid sales up 87%, EV sales up 6.6% in the same timeframe
Market Share:
- Total PHEV sales: 15,546 units
- EV sales: 70,094 units
- Hybrid sales: 129,895 units
Top Performers: Mitsubishi Outlander PHEV remains Australia's best-selling PHEV. BYD Sealion 6 emerges as a strong competitor, selling 3,207 units since its June launch
Model-Specific Performance: Some models have high PHEV shares of total sales:
- Volvo XC60 (40.6% PHEV)
- Cupra Formentor (52.4% PHEV)
- Alfa Romeo Tonale (46.5% PHEV)
- Volvo S60 (41.4% PHEV)
Market Dynamics: PHEVs gaining popularity as a bridge between conventional and fully electric vehicles. Growth comes from a relatively low base compared to other powertrain types
Future Outlook: Continued growth expected, but potential impact from changes in tax incentives after April 2025
The significant growth in PHEV sales demonstrates a strong consumer interest in electrified vehicles that offer both electric and conventional driving capabilities. While still a smaller segment compared to hybrids and EVs, PHEVs are carving out an important niche in the Australian automotive market.
