NVES – Today we are chatting about the NVES legislation and how it’s completely out of touch with buyer demand. The Government introduced the NVES legislation to take effect from the 1st of January this year.
In short, each vehicle manufacturer must meet an increasingly restrictive average CO2 emission for its fleet or face penalties. This penalty will translate to higher prices for our vehicles.
The best way for manufacturers to meet the NVES targets is to sell a heap of Electric vehicles.
The problem is that buyers are showing they don’t want EVs.
Demand has dropped from almost 10% last year to 4% or recorded sales this year. Initial demand was met by early adopters and second wave buyers. Government agencies, large corporations, and some individual stragglers are the only people buying EVs.
EV’s make some sense for localised urban travel. The have zero driving emissions which helps pollution.
However, sales of Hybrids and PHEVs are booming. These vehicles make sense for the long distances Australians travel. They are convenient, economical and don’t restrict our lifestyles. FBT exemptions fuel demand for PHEVs..
The NVES legislation is yet another example of legislation where a government simply gets it wrong and is out of touch with everyday Australians.
This is a Motoring Minute
I’m Rob Fraser
Readers can find more details about the NVES – HERE
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