Electric Vehicle Wholesaling - Market Research Report (2013-2028)
Melbourne, Australia
Last Updated: October 2023
ANZSIC OD5742Revenue
$7.9bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
3,589
Businesses
74
Wages
$XXX.Xm
Electric Vehicle Wholesaling industry analysis
The Electric Vehicle Wholesaling industry has grown rapidly over the past few years. An increase in charging station numbers and accessibility, and additions to the number of electric vehicle (EV) models have supported demand. Rising concern about the environment has also assisted the industry, as consumers have sought to lower their carbon footprint. A number of instances of a positive consumer index over the past five years, which indicates households are optimistic about their financial position, has further supported this trend. Despite these factors, EVs are still unaffordable for many consumers due to their high price, limiting demand. Moreover, minimal government support, poor fuel efficiency standards and global microchip supply issues have restricted EV sales, causing Australia to lag behind the global average. Overall, industry revenue is expected to rise at an annualised 77.3% over the five years through 2023-24, to $7.9 billion. This result includes anticipated growth of 67.0% in 2023-24.
Australia is far behind the global average in EV sales as a percentage of total vehicle sales. According to the Electric Vehicle Council's July 2023 State of Electric Vehicles report, global EV sales are expected to average 19.0% of all vehicle sales in the 2023 calendar year, while EV sales in Australia only represent 8.4% of vehicle sales.
The Electric Vehicle Wholesaling industry is projected to continue booming in the coming years. Public concern about environmental issues is likely to continue increasing, driving households' desire to be more sustainable, which is likely to lead to more EV sales. Additionally, an even greater range of EVs are likely to become available at cheaper prices, allowing consumers who couldn’t previously afford to buy an EV to purchase one. More charging stations are set to be installed, and federal and state government support for EVs and EV infrastructure is projected to improve. Overall, industry revenue is forecast to rise at an annualised 22.9% over the next few years, to reach $22.3 billion in 2028-29. Rising demand is projected to lead to a greater number of EV wholesalers.
Trends and Insights
- The eco-friendly nature of electric vehicles has driven up demand growth in recent years. EVs are considered a more environmentally friendly mode of vehicular transport, as they typically have a smaller environmental footprint than traditional motor vehicles.
- SUV's have dominated the Australian vehicle market in recent years, demonstrating local consumers’ vehicle preferences. To capitalise on this, some dealers have started stocking battery electric vehicle SUV (BEV SUVs) and plug-in hybrid electric vehicles (PHEV) SUVs.
- Business location tends to follow population distribution. New South Wales, Victoria and Queensland are Australia's three largest states in terms of population, and contribute over 80% of electric vehicle wholesaling enterprises.
- Limited options and supply issues means market share concentration is low. Given the industry is still in its infancy, there is relatively low internal competition but consumers have limited options to choose from.
Industry Overview
Market size and recent performance (2013-2028)
Industry revenue has grown at a CAGR of 77.3 % over the past five years, to reach an estimated $7.9bn in 2023.
Trends and Insights
Consumers’ perception of electric vehicles’ eco-friendly nature has supported growth in demand
- Traditional combustion vehicles have long dominated the Australian car market. However, electric vehicles (EVs) have grown in popularity over the past few years, capturing a small but increasing share of the market.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Strong demand will continue rising over the coming years
- The Electric Vehicle Wholesaling industry is forecast to continue its strong growth trajectory.
Biggest companies in the Electric Vehicle Wholesaling
| Company | Market Share (%)
2024 | Revenue ($m)
2024 |
|---|---|---|
Tesla Australia | 4,428.4 | |
BYD Automotive | 884.2 | |
Volvo | 802.5 |
To view the market share and analysis for all 7 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Battery Electric Vehicle - Passenger, Battery Electric Vehicle - SUV and Plug-in Hybrid Electric Vehicle - SUV. Battery Electric Vehicle - Passenger is the largest segment of the Electric Vehicle Wholesaling.
Trends and Insights
Luxury brands dominate the battery electric vehicle passenger segment
- Battery Electric Vehicles (BEVs) are powered entirely by electricity and have no internal combustion engine.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Motor Vehicle Wholesaling in Australia
- Commercial Vehicle Wholesaling in Australia
Complementors
- Motor Vehicle Manufacturing in Australia
International industries
- Global Car & Automobile Manufacturing
- Hybrid & Electric Vehicle Manufacturing in the US
- Electric Vehicle Manufacturing in Germany
Table of Contents
About this industry
Industry definition
The Electric Vehicle Wholesaling industry is primarily involved in the distribution of electric passenger vehicles. These include battery electric vehicles and plug-in hybrid electric vehicles. Hybrid electric vehicles are not included in the industry.
What's included in this industry?
Battery Electric Vehicle - Passenger Battery Electric Vehicle - SUVsPlug-in Hybrid Electric - Passenger Plug-in Hybrid Electric - SUVsCompanies
Tesla AustraliaBYD AutomotiveVolvoPurchase this report to view all 7 major companies in this industry.
Related Terms
SPORT UTILITY VEHICLE (SUV)BATTERY ELECTRIC VEHICLE (BEV)PLUG-IN HYBRID ELECTRIC VEHICLE (PHEV)Industry Code
ANZSIC 3501 - Electric Vehicle Wholesaling
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
The eco-friendly nature of electric vehicles has driven up demand growth in recent years. EVs are considered a more environmentally friendly mode of vehicular transport, as t...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2013-2022) and forecast (2023-2028)
- Employees, including historical (2013-2022) and forecast (2023-2028)
- Businesses, including historical (2013-2022) and forecast (2023-2028)
- Profit, including historical (2013-2023)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
SUV's have dominated the Australian vehicle market in recent years, demonstrating local consumers’ vehicle preferences. To capitalise on this, some dealers have started stock...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2023
- Product innovation level
Charts
- Products & services segmentation in 2023
- Major market segmentation in 2023
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Business location tends to follow population distribution. New South Wales, Victoria and Queensland are Australia's three largest states in terms of population, and contribut...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2023
Tables
- Number and share of establishments in each region in 2023
- Number and share of revenue each region accounts for in 2023
- Number and share of wages each region accounts for in 2023
- Number and share of employees in each region in 2023
Detailed analysis
- Geographic spread of the industry across Asia Pacific, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Limited options and supply issues means market share concentration is low. Given the industry is still in its infancy, there is relatively low internal competition but consum...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2018-2023
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Tesla continues to dominate the industry. Tesla is a market leader in electric vehicles, which has been accelerated by the launch of the hugely popular Model 3, and the rise ...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2019 through 2023
- Major companies in the industry, including market share, revenue, profit and profit margin in 2023
- Overview of Tesla Australia's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of BYD Automotive's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Volvo's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of revenue, market share and profit margin trend for 4 additional companies
Detailed analysis
- Description and key data for Tesla Australia, and factors influencing its performance in the industry
- Description and key data for BYD Automotive, and factors influencing its performance in the industry
- Description and key data for Volvo, and factors influencing its performance in the industry
- Description, key data and performance trends for 4 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Revenue volatility is high as a result of supply issues. Any disruption to the supply of vehicles limits the number of EV sales, harming revenue.
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2013-2028)
- Assistance historical data and forecast (2013-2028)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Industry profit margins are majorly dependent on the overall number of EV sales. When EV sales rise, wholesalers are able to improve their economies of scale and boost profit...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2013-2028)
- Revenue per Employee (2013-2028)
- Revenue per Enterprise (2013-2028)
- Employees per Establishment (2013-2028)
- Employees per Enterprise (2013-2028)
- Average Wage (2013-2028)
- Wages/Revenue (2013-2028)
- Establishments per Enterprise (2013-2028)
- IVA/Revenue (2013-2028)
- Imports/Demand (2013-2028)
- Exports/Revenue (2013-2028)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2013-2028)
- IVA (2013-2028)
- Establishments (2013-2028)
- Enterprises (2013-2028)
- Employment (2013-2028)
- Exports (2013-2028)
- Imports (2013-2028)
- Wages (2013-2028)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Australia include:
- Australian Bureau of Statistics
- Australian Taxation Office
- Australian Securities & Investments Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Electric Vehicle Wholesaling industry in Australia in 2024?
The market size of the Electric Vehicle Wholesaling industry in Australia is $7.9bn in 2024.
How many businesses are there in the Electric Vehicle Wholesaling industry in 2023?
There are 74 businesses in the Electric Vehicle Wholesaling industry in Australia, which has grown at a CAGR of 35.8 % between 2018 and 2023.
Has the Electric Vehicle Wholesaling industry in Australia grown or declined over the past 5 years?
The market size of the Electric Vehicle Wholesaling industry in Australia has been growing at a CAGR of 77.3 % between 2018 and 2023.
What is the forecast growth of the Electric Vehicle Wholesaling industry in Australia over the next 5 years?
Over the next five years, the Electric Vehicle Wholesaling industry in Australia is expected to grow.
What are the biggest companies in the Electric Vehicle Wholesaling market in Australia?
The biggest companies operating in the Electric Vehicle Wholesaling market in Australia are Tesla Australia, BYD Automotive and Volvo
What does the Electric Vehicle Wholesaling in Australia include?
Battery Electric Vehicle - Passenger and Battery Electric Vehicle - SUVs are part of the Electric Vehicle Wholesaling industry.
Which companies have the highest market share in the Electric Vehicle Wholesaling in Australia?
The company holding the most market share in Australia is Tesla Australia.
How competitive is the Electric Vehicle Wholesaling industry in Australia?
The level of competition is high and increasing in the Electric Vehicle Wholesaling industry in Australia.
