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Car importers stuck with excess stock amid EV sales drop

Author
Newstalk ZB,
Publish Date
Mon, 16 Sep 2024, 10:19am
Photo / Getty Images
Photo / Getty Images

Car importers stuck with excess stock amid EV sales drop

Author
Newstalk ZB,
Publish Date
Mon, 16 Sep 2024, 10:19am

The New Zealand electric vehicle market has run out of charge.

New Motor Industry Association data shows just one in eleven new vehicle sales are electric, compared to last year where it was one in every four.

Imported Motor Vehicle Industry chief executive Greig Epps says it's left many importers with excess stock.

However, he says hybrid sales, on the other hand, continue to stay strong.

"43 to 45 percent of the used imports that we're bringing in this year have been hybrids. Hybrids are a really solid technology."

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