Ann: Quarterly Activities Report and Appendix 5B, page-20

So for one year during the GFC car sales dropped and then in 2010 there was one of the strongest rebounds probably on record. After that every year for the next 8 vehicle production increased. Any number of countries had recessions sometime across 2001 to 2007 and 2010 to 2018 but in aggregate the market grew.

During Covid there was an even bigger decrease than during the GFC and that created the new low point for 2020. Aside from the GFC rebound in 2010, the 2023 year had the strongest growth since 2000. The trend is up and the market is trying to get back to its trend line of >100m vehicle sales. Most of the EV demand growth is customers deciding now is the right time to buy a new vehicle and then deciding to buy an EV.


RE West Australia
Australia means almost nothing to the EV demand picture and WA is even less important than Australia. WA is not even into the rounding for EV demand calculations. The typical EV sales number figure estimate for 2024 is 14,000,000. EV sales in Australia in 2023 were... 98,436. Australia doesn't even crack 1% of world demand for EV's. WA is probably around 10k of EV sales each year. China does 100x more than that each month.

YTD Australian sales are 50,219 vs 43,092 at the same point last year. Australian EV sales are up but not heaps. This however is largely irrelevant. What matters is China, and after that USA/Europe and some of the other countries that are going exponential on their sales.