Concern around an excess of electric vehicles supply

EVs have fallen from one in four new vehicles bought in 2023 to one in 26 in January this year - after the Government scrapped the clean car rebate.

Brands are now having to rethink - and discount - EV stock they ordered when demand was at an all-time high.

Toyota NZ chief executive Neeraj Lala says they order their cars a year in advance.

He says even if they can foresee a government change, there's only about six to eight weeks notice - and the market can't respond quickly enough.