Electric Vehicles Like BYD Are Outperforming Fuelled Cars. Here’s Why.

By Scott McDonnell posted on August 21, 2026

The Revolution is Electric!

Less than a decade ago, the Electric Vehicle was a fringe choice, associated with tech bros and environmentally conscious individuals, owning only 0.85% of the market [1]. Fast forward to 2026 and Electric Vehicles can’t be considered Fringe anymore; They’re rapidly becoming the preferred choice for Australians looking to upgrade their ride.

The Car Market in 2026

There’s a growing demand and supply for EVs in the market, with Chinese Manufacturer BYD leaving previous market leader Tesla in the dust.

BYD has seen a 70.5% increase in year-to-year sales and is the second most sold car brand in Australia[2]. Toyota still well and truly dominates the market; however, even then, the best-selling Hilux saw 40% of July sales being Hybrids.

Why Electric Vehicles?

There are several reasons people are choosing EVs. [3]

The International fuel crisis led people to explore low- or no-petrol options.
As a general rule, electricity is significantly cheaper than petrol and better for the environment, with Australians saving around 70% on fuel costs. This plays a crucial role as households struggle with the already high cost of living and look for ways to cut back.
EV’s generally require less maintenance, with Australians saving around 40% on maintenance and servicing.
EV’s boast a quieter, smoother driving experience, and can hit high speeds quicker than petrol vehicles.

Are Electric Vehicles More Expensive than other Cars?

Historically, quality EVs have been slightly pricer than comparative fuel-reliant cars, but with more competition and supply in the market, electric vehicle prices can be comparable and competitive. Lower fuel and maintenance costs also help people save significantly over the life of the car.

Additionally, the Australian Government is incentivising Australians to make their next car electric, with a 25% discount on Fringe Benefits Tax for Electric Vehicles ^[⁴^].

Overall, buying an electric vehicle may not just be better for the environment, but also for your back pocket.

Can I get Finance for Electric Vehicles?

EVs can be financed like any other vehicle, with solutions that fit you and your needs. Here are just some of the options for borrowing and leasing for vehicles.

Want to ride the electric wave? Reach out to your local MoneyQuest finance broker to explore your car finance options today!

Disclaimer:

This article is written to provide a summary and general overview of the subject matter covered for your information only. Every effort has been made to ensure the information in the article is current, accurate and reliable. This article has been prepared without taking into account your objectives, personal circumstances, financial situation or needs. You should consider whether it is appropriate for your circumstances. You should seek your own independent legal, financial and taxation advice before acting or relying on any of the content contained in the articles and review any relevant Product Disclosure Statement (PDS), Terms and Conditions (T&C) or Financial Services Guide (FSG).

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