Neeraj Lala: Toyota NZ CEO on the concerns around the dropping rate of electric vehicle purchases

Increasing concerns 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 told Mike Hosking that 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. 

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