MG ZS EV Becomes Australia's Most Affordable Electric Vehicle with Major Price Cut

In a bold move to reshape the electric vehicle market in Australia, MG has slashed the price of its entry-level ZS EV by up to $8,703, making it the most affordable new electric car currently available. Effective from August 1, 2024, the MG ZS EV Excite now sports a drive-away price of just $34,990, marking a significant drop from its previous range of $41,195 to $43,693 depending on location.

A New Era for Affordable EVs

MG's latest price adjustment places the ZS EV Excite well below the $35,000 mark, a milestone in the Australian electric vehicle landscape. This is the first time the price of a new electric car in Australia has dipped under $35,000 drive-away, reflecting MG’s ongoing commitment to making electric mobility accessible to a broader audience.

Key Points of the Price Slash:

• New Price: $34,990 drive-away nationwide.
• Previous Price Range: $41,195 to $43,693, varying by state.
• Discount: Up to $8,703 compared to last month's prices.
• Comparison: $5,000 less than the June 2024 price of $39,990 drive-away.

This dramatic reduction comes as part of broader cuts to the recommended retail prices (RRPs) of MG’s electric models, including the MG ZS EV and MG 4. This pricing strategy is part of a wider trend MG has been following over the past year, aimed at making its vehicles more competitive in a rapidly evolving market.

Competitive Landscape

The title of Australia’s most affordable electric car has been a dynamic one, changing hands several times as new models and brands enter the market. Just five years ago, the most affordable EV in Australia was priced over $50,000 drive-away. Today’s price drop by MG underscores the increasing accessibility of electric vehicles.

Recent Changes in the Most Affordable EV Title:

• Late 2018 to Mid 2019: Hyundai Ioniq Electric Elite ($44,990 plus on-road costs)
• Mid 2019 to November 2020: Hyundai Ioniq Electric Elite ($48,490 plus on-road costs)
• November 2020 to July 2021: MG ZS EV Essence ($40,990 plus on-road costs)
• July 2021 to March 2022: MG ZS EV Essence ($44,990 drive-away nationwide)
• March 2022 to September 2022: BYD Atto 3 Standard ($44,990 drive-away nationwide)
• September 2022 to December 2023: MG ZS EV Excite ($44,990 drive-away nationwide)
• January 2024 to April 2024: GWM Ora Standard Range ($36,638 to $39,003 drive-away)
• April 2024 to July 2024: GWM Ora Standard Range ($35,990 drive-away nationwide)
• August 2024: MG ZS EV Excite ($34,990 drive-away nationwide)

Impact of the Price Drop

MG’s recent price cut is more than just a marketing maneuver. It’s a strategic response to shifting market dynamics and consumer preferences. With electric vehicle sales growing, MG is positioning itself as a leader in the affordable EV space. This move could potentially reinvigorate interest in the ZS EV, which has faced declining sales, down 64% in the first half of 2024 compared to the previous year.

Historical Pricing Comparison:

• ACT: Old Price $41,290 → New Price $34,990 (Saving $6,300)
• NSW: Old Price $42,936 → New Price $34,990 (Saving $7,946)
• NT: Old Price $41,195 → New Price $34,990 (Saving $6,205)
• QLD: Old Price $42,186 → New Price $34,990 (Saving $7,196)
• SA: Old Price $42,751 → New Price $34,990 (Saving $7,761)
• TAS: Old Price $42,884 → New Price $34,990 (Saving $7,894)
• VIC: Old Price $43,131 → New Price $34,990 (Saving $8,141)
• WA: Old Price $43,693 → New Price $34,990 (Saving $8,703)

Looking Ahead

The MG ZS EV's reduced price not only makes it the most affordable electric vehicle in Australia but also signals a shift towards more accessible EV options in the market. As MG continues to navigate the evolving automotive landscape, it remains to be seen how this move will impact the broader electric vehicle segment and the competition from other emerging brands.

For those interested in making the switch to electric, MG’s ZS EV now offers an unprecedented opportunity to do so without breaking the bank. With more affordable options entering the market, the future of electric mobility in Australia looks brighter than ever.