Surging EV sales in 2026 not just temporary - market analyst
One in three new cars sold in New Zealand is now an electric vehicle, according to new research.
Sales of electric vehicles and plug-in hybrid electric vehicles in New Zealand are set to skyrocket in 2026, according to global market analyst BMI. The firm predicts a staggering 220 percent year-on-year growth in passenger EV sales, with numbers leaping from around 11,726 units in 2025 to more than 37,445 units in 2026. This surge would bring EV market penetration to 35.2 percent, making EVs the third most common type of new car purchased in New Zealand.
The recent price surge in petrol, triggered by the Iran conflict, is believed to have spurred greater interest in EVs. However, BMI asserts this boom represents a long-term shift in market accessibility, not a fleeting demand spike. Chinese manufacturers like BYD, MG, and Zeekr are entering the market with more affordable models, broadening the buyer base.
ChargeNet, a leading provider of fast charging sites, is also forecasting robust growth. CEO Danusia Wypych anticipates ChargeNet will be able to meet the surging demand if they continue investing in additional charging stations. Wypych advocates for a government-backed EV leasing scheme, similar to Australia's novated lease, to lower the upfront costs for lower-income families.
This scheme would allow employees to lease EVs, potentially saving money weekly before deciding whether to buy the car at the end of the lease. Wypych hopes all political parties will consider this proposal as they approach the election, aiming to enhance New Zealand's fuel security.
Written by urgent.news from RNZ Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
