Sep 07th, 2023
The Future Of Petrol & Diesel Cars In Australia
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It’s no secret – across the globe, businesses, governments and households are pushing for a greener future.
Addressing greenhouse gas (GHG) emissions is a key factor in this, and with transport accounting for over 20% of Australia’s emissions, the future of cars is a major point of contention.
Combustion engines, coal and petroleum-based fuels are considered by many to be on the way out, with renewable-based transport taking a sharp increase in uptake and popularity.
Australia’s electric vehicle market saw a 200% increase in sales between 2020 and 2021, highlighting that people want nothing more than to shift towards this future.
The common argument against the concept of electric vehicles surrounds the production of electricity – here in Australia, it is primarily sourced from high-emission substances such as coal and natural gas. However, as electricity manufacturers shift from coal and gas power plants, to a combination of renewables, including hydro, wind and solar power, the power cycle of electric cars becomes more and more renewable, and less impactful on the environment.
This highlights the importance of starting somewhere, and as we see in forward-thinking countries such as Norway, where 54% of vehicles are now electric, uptake is key to driving growth and change.
So, what does this mean for your petrol or diesel car?
Other than the crazy prices that we are seeing for fuel, due to inflation and supply issues, the environmental concerns make it apparent the necessity for a global shift away from your old-school car.
The government won’t wipe out our cars in a day, or even a year. What seems more likely is a phase-out in the production and sale of new petrol and diesel cars. We have seen policymakers and large companies push for this to happen within the next 15 years, with NRMA CEO Rohan Lund hinting at the expectation that petroleum-fueled cars will be off the market by 2030 or 2035. Alongside this, plans across the EU, Japan and the USA highlight phasing out to occur before 2040.
So, it might just mean that your next car is an electric one!
As the shift to renewable energy and electric cars continues, it will open up a new frontier in power generation and sustainability. With innovation continuing, sources such as hydrogen power will be developed further, continuing the push away from finite and high-emission fuels.
Ultimately, this means that the large petrochemical and energy companies, that have seen huge global success for centuries, will need to find a way to pivot into a renewable market. It will breed a new generation of growth and innovation, as governments and lawmakers continue to progress toward a carbon-neutral world.
Are you on the hunt for a new vehicle? Inspired to take the leap to electric and want to know how we can help?
Give Rostron Finance a call on 1300 70 70 39 – we’d love to chat!
