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Higher spending buyers are considering EVs differently
July 2, 2026
Prestige EV buyers aren't looking at price. Here's what's actually moving them
Most of the EV story right now is a cost story. Battery electric vehicles hit a record 20% share of new vehicle sales in May, and electrified vehicles overall, battery electric, hybrid and plug-in hybrid combined, now account for 46% of the market¹. Rising petrol prices are pushing buyers towards electrified options, used EV interest is climbing, and running costs are the single biggest reason existing owners say they'd buy electric again. It's a compelling narrative, and it's accurate for most of the market.
It's just not the story carsales' research on higher spending buyers is telling us.
A different consideration set
A portion of carsales' latest EV Consumer Sentiment research looked specifically into buyers looking to spend $60k or more. These high spend intent buyers are considering an EV at 40%, well under the 54% average across the broader market². They're also far less swayed by the petrol price effect driving the wider surge, with only 24% saying recent fuel costs have made them more likely to consider an EV, against 37% overall³. Fuel prices still move the needle for this group, just nowhere near as hard as they do for the market at large. That gap matters. It suggests higher spending buyers are less reactive to cost of living pressures than the broader market, making their consideration window more stable and less likely to shift with the economic mood.
New, not used
Purchase type tells a similar story. Across the broader EV intender base, openness to buying used is sitting at a three year high. Higher spending buyers want the opposite, 57% say they'd only consider an EV new4, a much firmer stance than the rest of the market.
These buyers aren't pricing the way most of the market is. A used bargain isn't the draw, and fuel prices aren't doing the pushing either. What’s moving them towards electric is performance, technology, brand experience, the EV positioned as the more interesting choice rather than the cheaper one.
What prestige buyers are actually looking for
Australia's Car Buyer Report 2026 supports this, pointing to performance and experience over running costs for prestige buyers5. They're also open to new names, are more familiar with and trusting of new-to-market brands than the average car buyer.
Put together, this isn't a buyer who needs convincing that electric exists. From higher spending buyers through to true prestige territory, the case has to be made on the terms they actually care about, what the car does and how it feels, not necessarily that it's more affordable. The cost argument isn't wrong, it's just aimed at a different segment.
Want to make sure your brand is reaching these buyers? Get in touch with our team.
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Sourcing
1. FCAI VFACTS National Report, May 2026
2. carsales EV Consumer Survey, May 2026, High spend intent buyers n=700. ‘Have you ever considered purchasing an electric vehicle?’
3. carsales EV Consumer Survey, May 2026, High spend intent buyers n=731. ‘In recent months, petrol prices have changed. To what extent, if at all, has this affected how likely you are to consider an electric vehicle?’
4. carsales EV Consumer Survey, May 2026, High spend intent buyers n=632. ‘Which type of EV would you consider buying?’ Asked of non-owners who have considered an EV, segmented by stated budget over $60k.
5. Australia's Car Buyer Report 2026. Prestige buyers = intenders or recent spenders of $70,000 or more on a vehicle, n=199. Familiarity and trust in new-to-market OEMs, vs all car buyers.
New, not used
Purchase type tells a similar story. Across the broader EV intender base, openness to buying used is sitting at a three year high. Higher spending buyers want the opposite, 57% say they'd only consider an EV new4, a much firmer stance than the rest of the market.
These buyers aren't pricing the way most of the market is. A used bargain isn't the draw, and fuel prices aren't doing the pushing either. What’s moving them towards electric is performance, technology, brand experience, the EV positioned as the more interesting choice rather than the cheaper one.
What prestige buyers are actually looking for
Australia's Car Buyer Report 2026 supports this, pointing to performance and experience over running costs for prestige buyers5. They're also open to new names, are more familiar with and trusting of new-to-market brands than the average car buyer.
Put together, this isn't a buyer who needs convincing that electric exists. From higher spending buyers through to true prestige territory, the case has to be made on the terms they actually care about, what the car does and how it feels, not necessarily that it's more affordable. The cost argument isn't wrong, it's just aimed at a different segment.
Want to make sure your brand is reaching these buyers? Get in touch with our team.
Sourcing
1. FCAI VFACTS National Report, May 2026
2. carsales EV Consumer Survey, May 2026, High spend intent buyers n=700. ‘Have you ever considered purchasing an electric vehicle?’
3. carsales EV Consumer Survey, May 2026, High spend intent buyers n=731. ‘In recent months, petrol prices have changed. To what extent, if at all, has this affected how likely you are to consider an electric vehicle?’
4. carsales EV Consumer Survey, May 2026, High spend intent buyers n=632. ‘Which type of EV would you consider buying?’ Asked of non-owners who have considered an EV, segmented by stated budget over $60k.
5. Australia's Car Buyer Report 2026. Prestige buyers = intenders or recent spenders of $70,000 or more on a vehicle, n=199. Familiarity and trust in new-to-market OEMs, vs all car buyers.
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