Record EV Imports Land as Fuel Import Costs Rose 42.5%

Australia imported record volumes of electric and plug-in hybrid vehicles in the June quarter, as rising fuel prices shifted buying patterns. The ABS Balance of Payments data, released yesterday, shows imports of non-industrial transport equipment rose 38.1 per cent while imports of fuels and lubricants climbed 42.5 per cent.

The numbers tell a linked story. Crude oil and refined fuel prices hit new highs as conflict in the Middle East tightened global supply, and the Australian Government secured additional diesel shipments in response to shortages. That price pressure changed what Australians chose to buy.

More supply, more choice

Jonathon Khoo, ABS head of international statistics, said the spike in electric vehicle imports reflects "changing consumer preferences, supported by growing fuel security concerns and rising fuel prices."

For anyone shopping for a vehicle this quarter, the practical effect is straightforward: record volumes of EVs arrived in Australia, and the range of models has widened. Vehicles that carried waitlists through much of 2025 may now be sitting on dealer lots.

Plug-in hybrid vehicles, which run on both battery and petrol, were also part of the record. For business owners running mixed-use vehicles where charging infrastructure is still patchy, plug-in hybrids sit in a useful middle ground: battery for short runs, petrol for distance.

The fuel side of the equation

The 42.5 per cent rise in fuel imports was not just about volume. Prices for crude oil and refined petroleum products hit record highs, and diesel rose further as the Government secured additional shipments in response to global supply shortages. For businesses where fuel is a significant operating cost, the running cost gap between a conventional vehicle and an electric or hybrid one has widened.

That gap is now doing part of the work that government incentives used to do. When diesel costs more, the payback period on a battery vehicle shortens, even before you account for lower servicing costs.

What to do

If you have been waiting for EV supply to catch up before buying, the June quarter data suggests it has. Check what is available from dealers now, not based on availability from six months ago. The range of models on the ground has changed.

For fleet operators, this is a good quarter to model the numbers on at least one EV against your highest-fuel-cost vehicle. Compare the total cost over three to five years, not just the purchase price: fuel, servicing, and resale. The fuel cost shift since mid-2025 means the comparison looks different from where it sat 12 months ago. And if a full EV does not suit your routes, a plug-in hybrid lets you run short trips on battery and keep range for the longer ones.

This article is general information only and is not financial advice.