New Vehicle Efficiency Standard Act 2024
The New Vehicle Efficiency Standard Act 2024 is an Australian act of parliament that imposes emissions limits on vehicles.
The law was implemented on 1 January 2025, with it coming into effect on 1 July 2025.
Manufactures are fined A$100 for every gram of carbon dioxide per kilometre average over the limit, and credits for every g/km of CO2 under the limit. Credits can be sold to other manufactures or be banked for future years. Vehicles with a gross vehicle mass over 4.5 tonnes are except from the bill.
Fines will be first issued in 2028, for the 2025 reporting period, called interim emissions value which ran from 1 July to 31 December 2025. The results of the 2025 IEV will be publicised in February 2026.
The bill has two classifications of vehicles with emission targets. Type 1 vehicles: passenger cars and SUVs. Type 2 vehicles: light commercial vehicles, such as utes and vans.
SUVs can count as a Type 2 vehicle if they are built with four wheel drive on a body on frame and have three tonnes braked towing capacity.