There’s a noticeable buzz in the air for automotive enthusiasts in Australia. With the challenges of vehicle production delays and COVID-related shutdowns fading away in the rearview mirror, 2024 is gearing up to be a standout year. 

In 2023, electric vehicles (EVs) accounted for 8.4% of all new cars sales, a staggering 120% increase on 2022. The Electric Vehicle Council has estimated that there are now approximately 130,000 EVs on Australia’s roads.  As EVs continue to gain popularity, the Australian market is bracing for an influx of 34 new and innovative models set to hit the roads in 2024. 

While Tesla’s models have been the popular choice, more cars from brands like Volkswagen, Toyota, Polestar, BYD, and even Cadillac are joining the EV party, offering Aussies more choices, reshaping the perception and providing greater diversity and options for buyers.

New models in 2024

Selecting the right model might be a tough call with plenty of new cars hitting Australian roads this year. With an extensive range of options to choose from, it’s hard to know which one to finance or start saving for.

According to, here are some of new cars expected to arrive on our shores this year:

  1. Toyota HiLux: Australia’s current best-selling model is set to get an upgrade with a 48-volt-assisted powertrain option that is anticipated to result in a 10% reduction in fuel consumption, making it ideal for fleet owners.
  2. Lexus GX: Making its debut in Australia as a premium version of the Toyota Prado, this model is expected to be delivered in the first half of the year.
  3. Jeep Avenger: Jeep’s first all-electric model, this is equipped with a 54kWh lithium-ion battery, offering a driving range of 400km.
  4. Audi Q4 e-tron: This is expected to challenge Tesla’s Model Y and Volvo’s XC40.
  5. Ford Mustang: Expected to arrive in the second half of the year, it’s anticipated to yet again become the best-selling sports car in Australia.
  6. Kia Sportage Hybrid: Considered to be a compelling alternative to Toyota’s RAV4, this features a 1.6-litre turbo-petrol four-cylinder engine and a 44.2kW electric motor.
  7. Mazda CX-80: While details are yet to be released, this model is expected to refine and enhance the features of the existing CX-60 and CX-90, aiming at Hyundai’s Palisade and Toyota’s Kluger.
  8. Mitsubishi Triton: The all-time rival to Ford Ranger and Toyota Hilux has been refreshed, boasting a 3.5 tonne towing capacity.
  9. SsangYong Torres: Entering the mid-size SUV market, it is hoped that the all-electric version will become available in Australia.
  10. Kia EV5: This electric SUV is anticipated to become one of Australia’s most affordable EV.

Additionally, the Hyundai Ioniq 5 N is effectively challenging what we think about EVs by offering speed, affordability, and engaging driving experience. 

Comparative analysis: EV vs hybrid vs petrol

Making the right choice between models requires a thoughtful consideration of various factors, including technological advancements, performance metrics, cost-effectiveness, and environmental impact. While it’s essential to approach this decision rationally, your final choice should also align with your personal lifestyle.

The decision-making process involves striking a balance between the practical aspects of the vehicle and how well it fits into your daily life. Here is a summary of the key differences:

  • EVs: More expensive upfront but cheaper to run, with lower maintenance costs and no road tax. Ideal for short to moderate daily commutes.
  • Hybrids: Environmentally friendly with a combination of electric and fuel power, offering better fuel efficiency in everyday commutes, but peace of mind for the occasional longer distances.
  • Petrol cars: Cheaper upfront, faster, and with widespread easy access to petrol stations. Ideal for commuters making unusually long journeys regularly.

While petrol cars maintain their popularity, EVs and hybrids represent the future. Interestingly, there are also currently around 12 different electric trucks available on the Australian market. This has sparked considerable interest among fleet owners, primarily driven by the technology’s potential to significantly reduce the total cost of ownership of heavy vehicle operations, and concurrently reduce emissions. As technology advances, more options are expected for both business owners and consumers.

Upgrade your driving experience

Whether you’re considering a fuel-efficient hybrid or an all-EV fleet for your business, Metro’s novated leasing options are designed to enhance accessibility. Also worthwhile to keep in mind is that the Australian Government introduced a fringe-benefit tax (FBT) exemption for EVs for private use, however, for plug-in hybrid vehicles this will only be available until 1 April 2025. This incentive is advantageous for those who can purchase an EV through salary sacrifice arrangements. 

With Metro, we put more Aussies in the driver’s seat to enjoy a sustainable and sophisticated driving experience.