Top benefits of owning a hybrid car
Electric vehicles (EVs) have shifted beyond the realm of science fiction and into the realities of everyday life. But are they actually practical for the average Australian? While EVs are starting to be embraced by both consumers and governments around the world, here we explore the top benefits of owning and maintaining a hybrid car in Australia.
The rise and rise of electric vehicles
Since Elon Musk became a household name, we’ve been living in the age of the EV revolution. But what was once considered a far-off prospect is now a reality for many people around the world who have their own hybrid or fully electric cars. That popularity has spread to Australia, and while we aren’t quite at the same levels as the United States right now, we are seeing increased interest from both consumers and government about a cleaner future for transport.
According to the Electric Vehicle Council, EVs make up only 0.7% of all vehicle purchases in Australia. And while the sales figures are increasing year-on-year, it’s understandable that uptake is so slow with the Federal Government not yet offering any incentives for purchasing an electric or hybrid vehicle in Australia.
That being said, some of the states have taken a progressive approach to a future filled with EVs, and they are offering incentives such as:
- NSW: Limited offer of $3,000 rebate for “battery-electric or hydrogen fuel cell cars” purchased for under $68,750 (including GST). This is for the first 25,000 new vehicles bought.
- VIC: EVs are now exempt from the luxury car stamp duty. There’s also a $100 discount on annual registration fees for electric vehicles.
- TAS: Two-year stamp duty waiver for new and second-hand EVs, saving owners up to $2,000.
- ACT: No stamp duty on new EV purchases and two years’ worth of free rego.
Pros of hybrid cars
So, what are some of the biggest benefits of owning a hybrid or fully electric car in Australia? Number one is the environmental factor. Traditional transportation is the third-largest contributor of greenhouse gases in Australia, so switching to a low-emissions EV is a green choice for the eco-conscious.
There’s also the benefit of petrol costs (cheaper for hybrids and free for fully electric vehicles). Although you will have to factor in the cost of recharging your vehicle, which will depend on the make, model and size of EV you purchase.
Finally, electric and hybrid vehicles’ resale values are expected to rise as uptake increases – perhaps even bettering the resale price of traditional petrol and diesel cars. However, this is not yet the case. Ultimately, this may be most beneficial to drivers who plan on upgrading their EV every few years.
Cons of hybrid cars
Unfortunately in Australia, many electric and hybrid cars are cost-prohibitive for the average driver – despite the fact that Australians do want to buy EVs. Insurance for an electric car can also be more expensive than taking out a car insurance policy for a standard petrol or diesel vehicle.
The biggest drawback at the moment, however, is something we can’t control ourselves: infrastructure. Compared to China’s more than 800,000 publicly available EV charging outlets and the United States, which has over 41,000 charging stations and is set to surge under President Biden’s $2 trillion infrastructure plan, Australia boasts just 2,500, most of which are located around our capital cities. While there are plans to roll out more over the coming years, our sparse geography means it may be difficult for drivers who want to travel outside of their city for lengthy trips in their electric vehicle.
You have to make your own decisions about a hybrid car
Is a hybrid car the right purchase for you? There’s no one-size-fits-all answer – the decision will depend on a variety of factors, from your lifestyle to your financial circumstances, as well as how you intend to use the EV.
29 Sep 2021