MG Australia has announced that the price of its base MG 4 electric vehicle will increase after a limited-time discount period ends, but it will still retain its position as the most affordable EV in the Australian market.
Current Discount:
The base MG 4 51 Excite is currently priced at $30,990 drive-away nationwide. This represents a discount of up to $10,425 depending on the state. The discount period runs from September 20 to October 31, 2024.
New Pricing:
From November 1, 2024 to January 31, 2025, the price will increase to $32,990 drive-away. This is still $2,000 lower than the pre-discount price.
Market Position:
- Even with the price increase, the MG 4 will remain Australia's cheapest EV.
- Its closest competitor, the GWM Ora, is priced at $33,990 drive-away until December 31, 2024.
Sales Performance:
MG has sold 3,772 MG 4s in Australia to the end of September 2024. This significantly outperforms competitors like the GWM Ora (901 sales) and BYD Dolphin (1,740 sales).
Other Promotions:
MG has been offering factory bonuses of $5,000 on 2024 models and $8,000 on 2023 models. These promotions are set to end on October 31, 2024.
The MG 4's pricing strategy demonstrates the brand's commitment to making electric vehicles more accessible to Australian consumers. By maintaining a competitive price point even after the promotional period, MG is likely to continue its strong performance in the EV market. This move not only solidifies the MG 4's position as the most affordable EV in Australia but also puts pressure on competitors to reconsider their pricing strategies. As the EV market continues to evolve, such aggressive pricing could play a crucial role in accelerating the adoption of electric vehicles in Australia.
