Tesla Model Y 10th highest selling car: how to finance an electric vehicle
The latest vehicle sales figures have been released, with the new Tesla Model Y climbing the ranks of highest selling vehicles in the country.
New figures from the Federal Chamber of Automotive Industries (FCAI) shows that in November 2022, 95,080 vehicles were sold. This represented a 17.9% increase in the same month in 2021. This increase year-on-year is not surprising, given cities were recovering from pandemic shutdowns in November 2021.
Australians are starting to come around to sustainable vehicles, with sales of battery electric, plug-in hybrid and hybrid vehicles on the rise, according to the FCAI. A total of 13,415 zero and low emission vehicles were sold, including 4,457 battery electric, 8,529 hybrid and 429 plug-in hybrid vehicles.
There have been a number of initiatives launched and improvements made to increase the uptake of sustainable vehicles. Earlier this year, New South Wales launched its $2 million electric vehicle infrastructure trial, turning street-side poles into electric car chargers. This comes after the state government announced it would be rolling out 3,500 charges across tourist locations, such as museums and wineries.
In fact, the Federal Government is considering a three-prong approach to increase this uptake. This includes purchase incentives, such as the Treasury Law Amendments Bill (Electric Vehicle Discount), increased fuel quality standards as well as an emissions target for the light vehicle sector.
Top selling vehicles for November 2022
- Toyota Hi-Lux - 5,440 sales
- Ford Ranger - 5,073 sales
- Toyota’s Corolla - 3,732
- MG’s ZS - 3,051 sales
- Toyota’s Landcruiser - 2,296 sales
The Tesla Model Y electric vehicle recorded 1805 sales in November, coming in as the tenth highest selling vehicle. Given that deliveries for the Model Y only began between August and November, it’s clear there is strong interest for this sustainable vehicle.
FCAI Chief Executive Tony Weber said: “The automotive sector is continuing to recover from pandemic related shutdowns, a global shortage of microprocessors and the general supply chain uncertainty we experienced over the last two years.”
“The industry will deliver the one millionth vehicle to the market in 2022 next week. While this is positive news, many customers are still facing extended wait times for their vehicle, with expected delivery dates for some models beyond 12 months,” he said.
“Purchase incentives for zero and low emission vehicles, and increased fuel quality standards are both important levers in reducing CO2 emissions from Australia’s light vehicle fleet.”
“These need to be combined with a Federally led emissions target for the light vehicle sector. One which is ambitious, yet achievable and is cognisant of vehicle price, model availability, battery supply and infrastructure requirements,” Mr Weber said.
Financing your electric vehicle purchase
If you’re in the market for a Tesla Model Y, or just considering switching to an electric vehicle, it’s worth knowing that many Australian lenders offer lower-rate ‘green’ car loans for just this purchase.
Green car loans can come with discounted interest rates, as lenders want to encourage and reward Australians making more sustainable choices. To help you easily compare car loan options, RateCity has ranked the top-rated car loans using our comprehensive, Real Time Ratings™ system.
Real Time Ratings™ gives each car loan a score out of five, based on cost and flexibility. But unlike other ratings systems that rank their products once or twice a year, our Real Time Ratings™ system ranks products live as you use the site, helping you make a more relevant short list
(Rankings are correct at the time of publishing. Please note lenders may trade places on the list as interest rates and fees change and RateCity’s tracker reflects these movements.)
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6.57%
7.19%
$392
Australian Credit Licence 488228
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- 1 to 7 years
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6.52%
up to 18%
6.95%
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Australian Credit Licence 364340
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6.29%
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Australian Credit Licence 511803
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6.24%
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Australian Credit Licence 395219
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- 3 to 7 years
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6.57%
7.19%
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Australian Credit Licence 488228
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- $2k to $75k
- 1 to 7 years
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6.80%
up to 24.99%
7.56%
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Australian Credit Licence 511803
Fees & charges apply
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- $10k to $100k
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6.49%
7.61%
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Australian Credit Licence 395219
Fees & charges apply
- $5k to $150k
- 3 to 5 years
- Fixed Rate
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6.52%
up to 18%
6.95%
$392
Australian Credit Licence 364340
Fees & charges apply
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- 1 to 7 years
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Product database updated 07 May, 2024
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