MG has expressed confidence in its ability to retain its status as the brand behind Australia's most popular small SUV and light car, even as it rolls out new-generation models with higher price tags.
New MG 3 Pricing
The company launched a new MG 3 in June 2024, which saw a substantial price increase:
- Previous base price: $18,990 drive-away
- New base price: $23,990 before on-roads
This represents a significant jump in the entry point for the popular light hatchback.
ZS SUV Update
MG is also updating its ZS small SUV line:
- Initially launching as a pricier hybrid model
- More affordable petrol variants to follow in early 2025
Market Strategy
MG's approach of introducing higher-priced models first suggests confidence in:
- The strength of its brand in the Australian market
- The perceived value of its updated vehicles
Factors Supporting MG's Optimism
Several elements likely contribute to MG's positive outlook:
- Strong market position (7th most popular car brand in Australia)
- Growing sales figures (54,512 cars sold in the first 11 months of 2023)
- Competitive pricing relative to segment rivals
- Established brand loyalty
- Continued demand for affordable SUVs in Australia
While the price increases are substantial, MG appears to believe that the improvements and features in its new-generation models will justify the higher costs to consumers. The success of this strategy will ultimately be determined by the market's reception to these updated, pricier offerings in Australia's competitive automotive landscape.
