Community
7 December, 2023
We’re a nation of revheads
DESPITE high fuel prices roaring across the country, the latest research from Compare the Market has found that most Australians still prefer a combustion engine car over an electric vehicle (EV).
The survey, which asked Australians if they would prefer a petrol or diesel-based car or an EV if they were of the same make, model and price, found that 46.4 per cent said that a traditional vehicle was their preference.
A further 14.1 per cent said they had no preference, while just under two in five said they would prefer an EV.
Compare the Market’s general insurance and car insurance expert Adrian Taylor said the trend could be because Australia ranks as one of the worst countries for EVs, according to recent Compare the Market research.
“The fact that combustion engine cars are still preferred in Australia makes sense given that our recent research shows that Australia is lagging in EV infrastructure across the country,” he said.
“Out of the 29 OECD countries we looked at, Australia came out third last, only just beating Switzerland and Portugal and Turkiye in equal second worst place.
“When you drive down the road in a major city, you’d be hard to pressed not to find at least a petrol station within a couple of kilometres, while charging stations, not to mention fast charging stations, are harder to find.
“Upkeep of EVs could be another reason preferences haven’t changed much. Besides the rising cost of electricity at home, we also know that at the moment, insurance for EVs is generally higher than similar classed traditional vehicles. And with so many families under the pump due to the cost-of-living crisis, they may think twice about preferring an electric car.
“These higher prices from insurers are due to a variety of reasons, but one prominent reason is due to specialised qualifications needed for people who can fix EVs both on the roadside and in the shop, which is currently limited.
“Hopefully, as more service personnel and auto shops complete these qualifications, we’ll see the prices drop.”
The research also found that Millennials were the only generation to prefer an EV (45.6 per cent) over a petrol or diesel-based car (39.5 per cent), while Baby Boomers were the most likely to select a combustion engine vehicle (53.6 per cent).
As for the state which loves the purr of an engine the most? Queenslanders cross the finish line first, with over half of the people surveyed stating that they’d choose a petrol or diesel car over an EV any day of the week.
South Australians came second, with just under 46 per cent loving the rumble underneath their seats, while Victoria was the only state where an equal number of people would prefer an EV or a combustion-engine car.
Whatever your car preferences may be, Mr Taylor said all drivers should consider comprehensive car insurance for their new car.
“Regardless of what you drive, you should consider putting comprehensive car insurance on the shopping list whenever you decide to buy a new car,” he said.
“You might think that you’re saving money by only paying for compulsory third-party insurance with your registration, but if something does happen in your vehicle, comprehensive car insurance could take the brunt of the financial burden rather than having to pay out-of-pocket for damages from an accident.”
