NT ready to offer EV incentives too
NT ready to offer EV incentives too
July 22, 2021
Every state and territory now has some form of electrification strategy
Every state and territory in Australia now offers some form of electric vehicle incentive or encouragement following the announcement of an EV strategy and implementation plan in the Northern Territory.
Focused on passenger and light commercial vehicles, the plan’s headline initiatives are free registration and a $1500 cut in stamp duty for battery-electric and plug-in hybrid vehicles for five years, with implementation starting July 2022.
The NT government has also announced charging infrastructure initiatives including a commitment to develop a grant program for home, workplace and public EV chargers, skills development for both EV servicing and charging installation and backing for local EV innovation.
Northern Territory announces free registration for electric vehicles as part of wider strategy
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New car sales lost momentum in June after bouncing back hard over the early months of 2021.
According to the Federal Chamber of Automotive Industries (FCAI), 110,664 new cars were sold in June, up only 0.4% from June last year and 6.1% lower than June 2019.
The next chart plots new car sales in rolling annual terms and shows the loss of sales momentum following the strong rebound after sales bottomed in October 2020:
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Loss of sales momentum.
Nevertheless, since October 2020, annual new car sales have rebounded by 16.4%, driven by a 23.4% increase in SUV sales.