Australians from older generations are most likely to buy new generation electric vehicles, according to a new study, that also found car costs are rising.
Baby Boomers most likely to create electric car boom
Interest in electric vehicles is rising in Australia and Baby Boomers have become the most likely generation to buy one of the next-generation vehicles, according to new research.
The survey of 1040 Australian drivers found electric cars had become the third most sought-after vehicle in Australia in 2022, after family and economical models, with older drivers narrowly overtaking Gen Z to become the most likely group to buy one.
But the study, conducted for vehicle subscription service Carbar, also found the costs of owning and maintaining a vehicle had soared in the past year, reaching an average annual cost of more than $15,000.
Carbar founder and chief executive Des Hang said the price rises, along with rising interest rates, could hold back car sales in 2023.