KATHMANDU : Toyota Australia believes the recent conflict in the Middle East has permanently changed electric vehicle (EV) demand, with buyers becoming more interested in EVs following the fuel price surge caused by disruptions in the Strait of Hormuz.
According to Toyota Australia Vice President of Sales and Marketing John Pappas, the fuel supply crisis has reset the “natural level” of EV demand. He said EV adoption in Australia is now expected to stabilize at around 20 percent of total new vehicle sales, roughly double the market share seen before the Hormuz crisis.
Toyota also expects strong growth in its own EV business. After selling around 1,000 units of the bZ4X last year, the company now forecasts sales of about 5,000 units by the end of 2026.
The updated bZ4X Touring and the upcoming HiLux BEV are expected to strengthen Toyota’s electric lineup, while the new C-HR EV is scheduled to arrive in the first half of 2027. Positioned below the bZ4X in price, the C-HR EV will use a 74.7 kWh battery and a front-wheel-drive powertrain producing 165 kW and 269 Nm of torque.
Australia recorded 32,583 EV sales in June, giving electric vehicles a 23.3 percent share of the new vehicle market. EV market share has risen steadily from 11.8 percent in February to nearly 20 percent in May, before reaching its June peak.
Although Toyota expects EV market share to ease slightly from June’s record level, the company believes demand will remain well above pre-crisis levels as more consumers embrace electrified vehicles.
