Looking to buy a cheap electric car? MG Australia has just cut the price of its MG4 51 Excite to just $30,990 drive-away, for a limited time. That makes it the most affordable EV on the new-car market.
If you thought there was a price war going on, especially with EVs, this is clear proof. MG has become (again) the carmaker with the most affordable electric vehicle – but don’t be surprised if GWM dropped its Ora price and BYD slashed the Dolphin in rebuttal.
The deal is for the MG4 51 Excite only, which is the entry model, and is valid from September 21 until October 31, 2024. However, MG is also offering a factory bonus offer for other variant, with up to $8000 for MY23 models and $5000 for MY24 variants. That includes the MG4 XPower, which effectively drops to $47,990. MG Australia’s CCO, Giles Belcher, said:
“We know that people may have been considering an EV but potentially have held off due to the cost now with this limited time offer we’re giving everyone the opportunity to own an MG4. The current campaign starts with our MG4 Excite 51 starting at $30,990 and then factory bonuses of up to $8,000 can be availed across our other trims including the high tech Essence 64, the Long Range 77 and the powerful X-Power.”
The potential issue with such dramatic prices drops, as we’ve seen with other brands recently, is that the resale value can drop through the floor. For example, if you’ve just purchased a 51 Excite, which, today, retails from $37,990 (excluding on-roads), it is now worth a decent sum under $30,990.
Electric vehicle sales have slowed in recent times, and that’s against the influx of more EVs being introduced. But, on the positive side, this also means EVs are accessible to more buyers. One of the challenges of EV purchasing has been the price. EVs are usually quite a bit more expensive than their combustion-engined counterparts. Belcher said:
“We’ve got a lot of sunshine and some of the most expensive electricity in Australia, with the majority of our country receiving many hours of sunshine per day, when averaged throughout the year, it makes complete sense to install solar and recharge your car from the sun.”
However, that sounds a bit contradictory as electricity prices are high but then that seems like a bad time to buy an EV? Perhaps MG and other carmakers should team up with solar companies and sell complete package deals; get an EV and solar instal included?
See below for the limited-time price deals on the MG4:
| MY23 VARIANT | MY23 | MY24 |
| MG4 Excite 51 | $30,990 DA | $30,990 DA |
| MG4 Excite 64 | $8000 factory bonus | $5000 factory bonus |
| MG4 Essence 64 | $8000 factory bonus | $5000 factory bonus |
| MG4 77kWh LR | $8000 factory bonus | $5000 factory bonus |
| MG4 X-Power | $8000 factory bonus | $5000 factory bonus |
