EV sales reach tipping point; US celebrates 250 years; auction sales tumble
Published: July 05, 2026
EV sales reach tipping point; US celebrates 250 years; auction sales tumble
News in brief
The preliminary auction clearance rate came in under 50 per cent across the nation, for the third successive week. At 49.8 per cent it was a touch better than seven days ago and suggests the market may have found a floor.
Gold has overtaken coal and LNG as Australia’s second largest export earner, generating $68.4 billion last financial year. It was briefly number two, behind iron ore, in 1987, but otherwise hasn’t held that slot since the 1960s.
AI is causing the legal system headaches, with plaintiffs increasingly using the technology to run their own cases. Now, a judge has warned that workers’ use of artificial intelligence in dismissal claims is “perilously close” to contempt of court.
The United States has held celebrations for Independence Day – 250 years after the adoption of the Declaration of Independence by the Continental Congress, marking American colonies’ separation from Great Britain. President Donald Trump said the US republic was the “crowning achievement of human history”.
Tens of thousands of Iranians crowded into a vast outdoor prayer complex in Tehran over the weekend to view the coffins of Ayatollah Ali Khamenei, the supreme leader killed at the start of the US-Israeli war on Iran, and his family.
Fear-o-meter
Shaokai Fan from the World Gold Council:
“Gold has long been a major part of Australia's economic story, but its rise to the second-largest resource export underscores just how important the sector remains today.
“There is no denying that robust demand and a higher gold price have lifted its place on the export ladder, but Australian gold’s enduring strength is far more than a demand story. It is a testament to the nation’s world-class geology, mining capability, capital markets, skilled workforce and regulatory stability.
"Australia has established itself as a benchmark for how a modern gold industry can create value through exports and investment as well as through jobs, local procurement, government revenues and support for regional communities.”
Fear & Greed Q+A today
Forget the week ahead - this is a look at the year ahead. Stephen shares his predictions for the next twelve months across financial markets, house prices, commodities, and the economy:
“Growth is slowing. I think that's the unanimous view from most economists, including our friends at the Reserve Bank and Treasury. We've got economic growth at two-and-a-half per cent at the moment, but it's almost inevitable that growth is going to be tracking towards one to one-and-a-half per cent.
Not quite that hard landing or, dare I say, recession that some are talking about because, even though households are hunkering down and paring back spending growth, business investment is actually very buoyant.
Capex, data centres, educational facilities, warehouses—this sort of infrastructure, which also adds to productivity—that's all very strong. So while the bottom-line growth number slows, the composition of that growth will look quite different.”
Electric vehicles sales in Australia have hit a new record with almost one-in-four purchases last month being an EV. Perhaps more remarkably, Chinese maker BYD came close to toppling Toyota as the country’s most popular brand.
Experts are calling the first half of 2026 in Australia the tipping point in the shift from internal combustion engines to electric vehicles.
BYD sold almost 19,000 vehicles last month and Tesla 8,700 vehicles – both records The last time any manufacturer other than Toyota sold more than 17,000 vehicles in a month was Holden back in 2004.
New car sales hit an all-time high in June, with more than 140,000 cars sold across the month.
Greed-o-meter
| Marque | May sales | June sales | MoM % | |
|---|---|---|---|---|
| 1 | Toyota | 16,342 | 19,124 | +17.0 |
| 2 | BYD | 8,211 | 18,881 | +129.9 |
| 3 | Ford | 7,195 | 9,181 | +27.6 |
| 4 | Tesla | 6,433 | 8,670 | +34.8 |
| 5 | Kia | 6,761 | 8,005 | +18.4 |
| 6 | Hyundai | 7,007 | 7,480 | +6.8 |
| 7 | Mazda | 5,698 | 7,278 | +27.7 |
| 8 | GWM | 4,660 | 6,104 | +31.0 |
| 9 | MG | 3,872 | 5,001 | +29.2 |
| 10 | Chery | 4,401 | 4,505 | +2.4 |
| 11 | Mitsubishi | 3,307 | 4,150 | +25.5 |
Forwarded from a friend? Sign up to our daily newsletter
The surge in sales of BYD electric vehicles - from 8,211 in May, to 18,881 in June - is an increase of nearly 130 per cent in just one month.
Listen to today's episode 🎧
Source: FCAI, CarExpert, Nine Media
We're excited to be partnering with Stripe. Last year, businesses using Stripe processed more than US$1.9 trillion in payments — equivalent to more than 1.6% of global GDP. From payments and billing to fraud prevention and cross-border payouts, Stripe is built for whatever comes next for your business. See what's possible at Stripe.