EV Price War Heats Up: Australian Buyers Win Big with 2024 Discounts and Incentives
Australian car buyers are experiencing unprecedented savings as electric vehicle (EV) manufacturers and importers engage in a fierce price war, coupled with generous government incentives. This perfect storm of competition and policy has led to significant price drops across various 2023 and 2024 models, making EVs and imported vehicles more accessible than ever before.
Government Incentives Fueling the Fire
The Australian government has implemented several measures to encourage EV adoption, including lower tariffs and GST exemptions on some models. For example, the Electric Car Discount bill exempts eligible EVs from fringe benefits tax, potentially saving thousands for those purchasing through salary sacrifice arrangements.
2023 BYD Seal
The BYD Seal has seen a price drop of up to $4,500, with the base model now starting at $49,888 drive-away. This puts it in direct competition with the Tesla Model 3, offering similar performance at a more attractive price point. BYD offers a 6-year/150,000km vehicle warranty and an 8-year/160,000km battery warranty, along with 6 years of roadside assistance, adding significant value to the package.
2023 Mahindra XUV700
Mahindra has slashed prices on its XUV700 range by up to $4,000. The entry-level 2023 XUV700 AX5 now starts at just $36,990 drive-away. It comes with a generous 5-year/100,000km warranty and 5 years of roadside assistance, offering exceptional value in the mid-size SUV segment compared to competitors like the Mazda CX-5 or Hyundai Tucson.
2023 MG4 Electric
MG has introduced a $4,000 factory bonus on its MG4 Electric models. The 2023 MG4 Excite 64 now starts from as low as $39,252 drive-away in some states. MG offers a 7-year/unlimited km warranty and 7 years of roadside assistance, making it one of the most affordable and well-supported long-range EVs on the market.
2023 MG ZS EV
The popular MG ZS EV has received a $7,000 price cut, bringing its starting price down to $39,990 drive-away. Like the MG4, it comes with a 7-year/unlimited km warranty and 7 years of roadside assistance. This represents exceptional value in the electric SUV market, undercutting competitors like the Hyundai Kona Electric by a significant margin while offering comparable warranty coverage.
2023 Haval H6
Great Wall Motor's Haval H6 range has seen discounts of up to $3,500. The base 2023 H6 Premium now starts from just $30,990 drive-away. It comes with a 7-year/unlimited km warranty and 5 years of roadside assistance, offering features and space comparable to much more expensive mid-size SUVs from established brands, with superior warranty coverage.
2023 GWM Tank 300
The rugged GWM Tank 300 has received a $3,000 price cut, now starting at $46,990 drive-away. GWM offers a 7-year/unlimited km warranty and 5 years of roadside assistance on this model. This positions it as a compelling alternative to more expensive off-road capable SUVs like the Toyota Fortuner or Isuzu MU-X, with a longer warranty period.
A Win for Australian Consumers
These price reductions, combined with government incentives and generous warranty and roadside assistance packages, represent significant value for Australian car buyers.
For example, someone opting for the 2023 MG ZS EV over a comparable petrol SUV could save over $10,000 upfront, with additional long-term savings on fuel and maintenance costs, plus the peace of mind of a 7-year warranty and roadside assistance package.
The increased competition is not only making EVs more affordable but is also putting pressure on traditional automakers to offer better value across their lineups. This price war is a clear win for Australian consumers, providing more choice and better value in the automotive market than ever before. As the EV market continues to mature and production scales up, we can expect to see even more competitive pricing in the future.
For now, Australian car buyers are in an enviable position, able to take advantage of these substantial discounts, long warranties, and comprehensive roadside assistance packages to make the switch to electric or upgrade to a feature-packed imported vehicle at unprecedented prices.
The combination of lower upfront costs, government incentives, and extensive warranty coverage makes this an ideal time for Australians to consider upgrading their vehicles or making the switch to electric. With savings potentially reaching into the tens of thousands of dollars over the life of the vehicle, the value proposition for these 2023 and 2024 models is stronger than ever before.
