Rapid Value Depreciation a Hurdle for Australians Buying EVs: Peak Body

‘It [rapid depreciation] does add to poor customer experience, and could put dealers in a difficult position,’ said AADA CEO James Voortman.

Electric vehicles (EV) line up outside a Tesla dealership in Melbourne, Australia, on April 19, 2023. William West/AFP via Getty Images

A parliamentary committee has been told that rapid value depreciation is a barrier that prevents Australian motorists from buying electric vehicles (EVs).

During a recent inquiry hearing into the EV transition, Australian Automotive Dealer Association (AADA) CEO James Voortman was questioned about what was blocking Australians from adopting the new car technology.