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EV sales hit record highs in March and April as petrol and diesel prices shot upwards, but MG says interest in battery-powered vehicle has begun to settle.
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MG has echoed comments by BYD that a surge in demand for electric cars amid conflict in the Middle East has eased alongside the reduction in fuel prices.
It does not mean, however, that consumers have lost interest in electric vehicles – and the maker of the MG 4 says some buyer interest metrics remain at the levels of March and April's peaks.
"We had that increase, definitely, when we last met with MG 4 [Urban media launch in late March], and now things have normalised to a degree," MG Australia marketing director Dimitri Andreatidis told media, including Drive.
"But what's interesting is that on the website, we're noticing that the amount of time that people are spending – the dwell time, the engagement time – is consistent with the activity that was taking place during March, April.
"The good news is the interest is definitely there, and I think that with the unfortunate geopolitical situation that has unfolded, it's opened up people's perspectives of wanting to purchase an EV.
"That in itself is a positive from that perspective."
Sales of MG electric cars in March and April were up 105 per cent on January and February combined results, while its petrol, diesel and hybrid range grew only 8.8 per cent.
MG S5 EV small electric SUV deliveries more than tripled – up 204 per cent – while even the higher-end IM5 and IM6 EVs, priced above $60,000, saw 11.6 to 64.3 per cent growth.
Electric cars accounted for 25.9 per cent of MG sales in March and April, up from 15.7 per cent in the two months prior.
It has coincided with an expansion of the electric MG model line-up, with the MG 4 Urban's late March arrival joined in recent weeks by the mid-size S6 EV mid-size SUV, and a revised, original-shape MG 4.
BYD has seen a similar settling of the spike in demand for electric cars at the height of the Middle East conflict, when petrol prices surged well over $2.00/litre, and diesel surpassed $3.00/litre in capital cities.
"My observation is that it's pretty much settled. We obviously saw a big influx in March, early April, but I think things have settled in terms of EVs," BYD Australia chief operating officer Stephen Collins told Drive in recent weeks.
"I think in March, EVs [were] around 70 per cent of our mix, which is very high. Normally it's about 50 per cent, and it’s back to about 50."
BYD has made headlines in recent weeks for plans to ship 30,000 cars to local shores in recent weeks.
"We don't have our own ship, but every month, we've got ships coming to ... bring our vehicles, thousands of our vehicles, to Australia, and getting from ports circulating Australia [then] getting to New Zealand," MG Australia head of product Meng Chen said.
"This is not something like we need to tell everyone we are doing this to meet demand, this is the routine operation."
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Alex Misoyannis has been writing about cars since 2017, when he started his own website, Redline. He contributed for Drive in 2018, before joining CarAdvice in 2019, becoming a regular contributing journalist within the news team in 2020. Cars have played a central role throughout Alex’s life, from flicking through car magazines at a young age, to growing up around performance vehicles in a car-loving family. Highly Commended - Young Writer of the Year 2024 (Under 30) Rising Star Journalist, 2024 Winner Scoop of The Year - 2024 Winner
