EV surge floods used car market, slashing petrol car prices
Petrol car sales dropped nearly 10 per cent as EV demand surged, with about 437,855 used vehicles now listed.
Australia's surge in electric vehicle sales is hammering the used petrol and diesel market. Used car listings peaked at 437,855 in July, with about 98 per cent being fuel-dependent vehicles.
In the first six months of 2026, a record 157,958 new EVs sold, expanding from one in ten new cars to more than one in four. Used petrol car sales dropped just shy of 10 per cent and diesel 4 per cent compared to the same period in 2025, while used EV sales jumped 54.6 per cent.
Petrol and diesel cars aged one to five years have depreciated by more than 8 per cent in just eight months. New EVs selling for $20,000 to $30,000 offer competition that may convince buyers to skip the secondhand market entirely.
- 157,958
- New EVs sold first half 2026
- 1 in 10 to more than 1 in 4
- EV market share growth
- 437,855 in July
- Used listings peak
- 8 per cent in eight months
- Petrol car depreciation
Why it mattersIf you own or want to sell a petrol car, resale value is falling fast. If you are shopping for a used vehicle, it is a buyer's market with more bargains available.
AustraliaAustralian used car owners face steeper losses on trade-ins. Buyers benefit from falling prices on petrol vehicles, while dealers and lenders struggle with shifting valuations.
Corroborated bysmh.com.au
✓ Claims checked against the source and corrected before publish. checked 2 h ago
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