Electric vehicle sales continue to grow: top-rated green car loans for March

Vehicle sales in Australia recorded their best February result since pre-pandemic, as Australia’s growing love-affair with sustainable vehicles grew, according to the Federal Chamber of Automotive Industries (FCAI). If you’re in the market for an electric vehicle, RateCity has rated its most competitive green car loans for the month.  

The latest data from the FCAI shows that the Australian automotive industry recorded strong February vehicle deliveries in February, rising 1.8% from the same period last year. FCAI Chief Executive Tony Weber said it was the “best February result since 2019.”

“It is particularly pleasing given global and domestic supply constraints,” he said. 

Of these sales, battery electric vehicles accounted for 6.8%, or 5,932 vehicles sold. Zero and low emissions vehicle sales (including battery electric, hybrid and plug-in hybrid vehicles) account for 13.9%, or 12,102 vehicles sold. 

“Growing sales of electric vehicles proves that where a battery electric product exists which suits the driving habits, needs and finances of Australian motorists, they will purchase these vehicles,” Mr Weber said.

“The number of low emission vehicle sales demonstrates that there is an appetite among Australians for environmentally friendly vehicles. However, if we wish to accelerate this transition to a broader range of consumers in all parts of the country, Australia needs to adopt a fuel efficiency standard,” Mr Weber added.

Find and compare car loans

If you’re contemplating switching to a sustainable vehicle in March, you may be considering taking out a car loan to help finance this purchase. Make the car loan search a little easier by comparing some of RateCity’s top-rated green car loan options.

Did you know that green car loan lenders typically offer discounted interest rates to eligible customers? This is done to encourage and reward customers like you to make more sustainable choices. 

Ask the lender for information about how it determines a vehicle to be ‘green’ or ‘eco’ and how it contributes to emissions reduction and environmental responsibility. 

To easily compare car loan options, RateCity has ranked the top-rated car loans on our Leaderboard page, using our comprehensive, Real Time Ratings™ system.

Real Time Ratings™ gives each car loan a score out of five, based on cost and flexibility. But unlike other ratings systems that rank their products once or twice a year, our Real Time Ratings™ system ranks products live as you use the site, helping you make a more relevant short list.

Don't forget to ask the lender if you want to know more about how they determine a particular loan’s purpose to be ‘green’ or ‘eco'. 

Compare car loans in Australia