Rising fuel costs triggered by the conflict in the Middle East are beginning to reshape parts of the Australian vehicle market, with reports that the latest supply disruption is sharpening business interest in electric vehicles as operators look to cut exposure to petrol and diesel volatility. 

Australia imports most of its transport fuel, and the federal government has already moved to cushion the blow for business as the crisis continues feeding through to local prices.

An upshot of the pressure is accelerating interest in electric vehicles particularly among fleets and commercial users.

According to a number of recent reports, EV loan applications in Australia doubled in March, while business enquiries tied to EV lending jumped 88 per cent and online EV searches tripled over the same period. 

It is a trend suggesting the latest fuel shock is hastening the move away from internal combustion engine (ICE) vehicles, at least for some buyers.

For Performax International dealer principal Kevin Thoroughgood, that shift is creating fresh momentum for the remaining Ford F-150 Lightnings that have been converted in Australia, especially as the market adjusts to the federal New Vehicle Efficiency Standard (NVES), which came into effect at the beginning of last year and is intended to increase the availability of more efficient new vehicles.

Performax International dealer principal Kevin Thoroughgood

Mr Thoroughgood said in a statement: “The F150 size EV pickup market is still largely untapped, and as more are out there and more people start to see them, the demand continues to grow.”

He said mining was one of the sectors showing the strongest interest, given many operators were already electrifying parts of their broader equipment and machinery fleets.

“A lot of their heavy machinery is now electric. They are also actively trying to increase their automotive fleet and the F150 Lightning still makes a lot of sense as it is multipurpose with very low running costs,” he said.

Agriculture may take longer, he said, but remains a promising opportunity as more electric equipment begins to enter the sector. He also pointed to government departments and contractors seeking lower-emissions vehicle options.

Mr Thoroughgood said the F-150 Lightning’s appeal was practical as much as strategic. He described the pick-up as smooth, quiet and sharply responsive, with strong cabin space, good payload, overnight charging convenience and the added usefulness of a front boot.

“Charge overnight and use for work all day and with current fuel prices they now really make more sense than ever,” he said.

The model is also working through a recent Australian recall affecting 146 right-hand-drive converted F-150 Lightnings from the 2022-2025 model years over a DC fast-charging fault that can cause charge-port pins to overheat. Owners have been directed to contact Performax for inspection and rectification, and to use AC charging in the meantime.

Mr Thoroughgood said customer sentiment had remained solid despite the setback.

“So far there has been no negative feedback,” he said. “They all seem to be quite happy with their purchases and there also appears to be some comfort in knowing that Performax will be here to support or help them.”

Footnote: Performax says buyers will continue to have access to spare parts, servicing support and a three-year unlimited-kilometre warranty on new purchases.