Tesla Ranked Third on the Newest Vehicle Sales Chart

It is a surprise for car enthusiasts when Tesla Model 3 hit third place on the sales ranking for new cars sold in March. How is that possible?

You may have read a previous article about the sales of electric vehicles (EVs) nearly tripling over the past year, from 6,900 in 2020 to 20,665 in 2021.

It’s clear that Tesla is growing quickly, but when you consider that 101,233 automobiles were sold in the country in March alone, it shouldn’t be expected that any one EV model will challenge the big players like Toyota, Mazda, or Mitsubishi anytime soon.

Upon checking the Federal Chamber of Automotive Industries’ (FCAI) March sales rankings and saw that Tesla’s Model 3 had rocketed to third place, we were stunned.

According to reports, more were sold than the Mazda CX-5 (fifth place), the Mitsubishi Triton (fourth), and were surpassed only by the Toyota RAV4 (second) and Toyota HiLux (first).

Tesla’s third place finish

It turned out that Elon Musk’s third place finish was accompanied by an asterisk.

This is the first month that EV brands Tesla and Polestar have been included in monthly sales figure reports, according to FCAI chief executive Tony Weber.

He explained that when looking at data for March 2022, it’s important to consider that Tesla figures represent the sales for the first three months of 2022.

Nevertheless, it’s a promising sign for electric vehicle enthusiasts – in just three months, they’ve reached the leaderboard with 4417 units sold.

But it wasn’t the only piece of good news for electric vehicle enthusiasts.

The Hyundai Ioniq 5, an electric SUV with 109 units released, were sold out within 7 minutes among 18,000 Australian potential buyers who expressed interest.

Meanwhile, Honda and General Motors will soon collaborate in making EVs that will sell for less than 30,000 USD to potentially eliminate the crucial cost barrier.

Are you a potential EV buyer?

Did you know that some lenders are currently providing lower interest rate on electric vehicles?

For example, Macquarie recently sent out a mailing to homeowners showing comparison rates on electric cars at 2.99 percent per year (based on a loan of $30,000and a term of five years).

That’s a decrease between 6.48% and 7.15% for a new internal combustion EV (depending on the loan-to-value ratio).

With more and more Australians considering buying an EV, we can anticipate seeing more lenders getting their elbows out to provide cheap loans in this sector.

If you’re thinking about switching to an electric vehicle, contact us at Will Bell Mortgage Broker and we’ll help you evaluate whether an EV financing is a right fit for you.

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Will Bell

Will Bell has 15 years’ experience in the finance industry, the last 11 years he has owned and operated Will Bell Mortgage Broker. He specializes in residential home loans and over the years has carved out a trusted brand. This is proven by the reviews his customers have made regarding the service and the experience he has provided.

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