Value of EV imports hits high
Imports of battery electric vehicles (BEVs) have more than doubled in value during the year to March 2023, according to new figures released by Stats NZ.
The total value of passenger motor vehicles imported in the 12-month period was $6.8 billion – an increase of 13 per cent on the previous year.
It also represents the largest value of vehicles purchased within any 12 months to March.
Increases were seen across vehicles of all reduced-emission powertrains, with BEV imports having the highest jump of 127 per cent from $543 million to $1.23b.
The numbers for hybrid electric vehicles (HEVs) and plug-in hybrid vehicles (PHEVs) increased 79 per cent to $1.12b and 123 per cent to $176m, respectively.
The combined value of all passenger vehicles with internal combustion engines (ICEs) rose by 1.7 per cent to $5.6b over the same timeframe.
Al Allen, international trade manager, says: “While traditional internal combustion vehicles are still the most popular choice overall, we are seeing a clear shift towards electric power among New Zealanders when selecting their next passenger car.”
Since mid-2020, imports of BEVS, HEVs and PHEVs combined have grown from an 8.2 per cent share to 37 per cent of the value of passenger vehicles imported in the year to March 2023.
Similarly, the number of imports of these reduced-emissions vehicles has jumped from a 7.3 per cent share to 37 per cent.
BEV numbers alone have increased from 2.6 per cent to 11 per cent during the same period.
Most of New Zealand’s electric vehicle imports in the 12 months to March 2023 came from China, which had a 58 per cent share for a value of $716m.
Next was South Korea at 16 per cent and $195m, the European Union on 13 per cent and $161m, and Japan accounted for 8.4 per cent and $104m.
Allen says as EV imports increase, we are seeing a diversification of supply as more manufacturers release fully electric models.
He adds that despite Japan accounting for 8.4 per cent of the import value for EVs, it provides 21 per cent of the total number of vehicles in this category.
“This represents a larger second-hand car market from Japan, accounting for 96 per cent of total used electric vehicle imports during the 12 months to March 2023.”
