RACQ endorses revised New Vehicle Efficiency Standard

RACQ endorses revised New Vehicle Efficiency Standard | Insurance Business Australia

Motor & Fleet

RACQ endorses revised New Vehicle Efficiency Standard

Company continues to call for inclusive transport innovation

Motor & Fleet

By
Roxanne Libatique

RACQ has publicly endorsed the recent adjustments made by the Federal Government to the initially proposed New Vehicle Efficiency Standard (NVES).

The insurer pointed out that the updated NVES aligns with its recommendations, taking into consideration the unique requirements of Queensland’s geography and lifestyle, particularly highlighting the existing gap in fuel-efficient solutions for 4WD and Light Commercial Vehicles (LCVs).

Benefits of effectively implemented NVES

RACQ asserted that an effectively implemented standard could catalyse technological innovation while offering financial benefits to vehicle owners.

“A well-designed standard will drive innovation and save motorists money. It will also incentivise manufacturers to send safer cars, utes, and 4WDs to Australia, and ensure they are competitively priced,” it said. “RACQ believes it is very important to secure public confidence in the transition to decarbonised transport. Part of that includes continued government investments in EV charging infrastructure, particularly in regional Australia, purchase incentives and developing a future workforce to fix and service electric vehicles.”

In a separate report, Youi recently highlighted the most fuel efficient vehicles in Australia. Notably, models such as the 2020 Toyota Yaris Hybrid, the 2019 Toyota Corolla Hybrid, and the 2021 Kia Niro were identified for their low combined fuel consumption rates and reduced greenhouse gas emissions.

The shift towards fuel-efficient vehicles is not only a response to economic pressures but also part of a broader environmental initiative. Light vehicles, including cars and small commercial vehicles, accounted for a significant portion of Australia’s greenhouse gas emissions. By opting for vehicles with better fuel economy, Australians can reduce their carbon footprint while also enjoying savings on fuel costs.