Australia’s cheapest electric car, the MG ZS EV, has gone up in cost by $1000 – from $43,990 to $44,990 drive-away – after most state governments started offering liberal duty tax incentives on electric vehicles of up to $3000, following selected price hikes across the MG model line-up from July 1.
Experts in NSW, Queensland, Victoria, Tasmania, and the Australian Capital Territory currently offer taxpayer-funded advantages, for example, free or decreased stamp duty on electric vehicles or, in some cases, cash-back offers.
In NSW, the greatest market in Australia for new motor vehicles, purchasers of electric vehicles get a $3000 rebate as well as free stamp duty, which saves a further $1500 on a $44,990 vehicle.
Preceding the rollout of tax incentives and rebates on electric vehicles in Australia, industry investigators were concerned such measures could prompt some vehicle organizations to expand the retail cost of their electric vehicles – to augment their benefits as purchasers profit with lower government charges.
The expansion in cost of the MG ZS EV matches with a $1000 expansion in cost for the MG HS plug-in hybrid, which is present at $47,990 drive-away.
A representative for MG in Australia said the price rises were driven by “exchange rate fluctuations and material cost adjustments.”
MG, which is currently part of Chinese car giant SAIC, has been producing vehicles in China since 2007.
Albeit the exchange rate between Australian and Chinese currency has gone all over in the previous year, the exchange rate is almost indistinguishable today to a year prior.
As indicated by currency converter XE.com, today one Australian dollar purchases 4.82 Chinese Yuan – versus 4.88 Chinese Yuan on a similar date last year.
Even though there are no technical changes, the MG ZS EV electric vehicle currently likewise accompanies a seven-year warranty, similarly as with the rest of the MG range. Beforehand the MG ZS EV offered just five years of coverage.
A portion of the MG ZS EV cost increment is probably going to add to the longer warranty coverage, as vehicle creators normally put away a pool of funds to cover future claims.
The new round of price rises has likewise pushed up the cost of one of Australia’s cheapest hatchbacks by somewhere in the range of $500 and $1000 contrasted with drive-away deals over the past six months.
The MG 3 Core launched at $15,990 drive-away in 2019, expanded to $16,490 drive-away in April 2020, stepped up to $17,190 drive-away in September 2020, then, at that point was $16,690 drive-away from September 2020 through to the end of February 2021, preceding stepping up to $16,990 drive-away in March 2021 and $17,490 drive-away from April to June 2021.
The MG 3 Core is currently $17,990 drive-away, a $500 increment on the latest drive-away cost, and a $1000-plus increment on deals offered earlier this year and throughout much of last year.
The cost of the MG 3 Core with navigation has ascended by more than $1000 contrasted with drive-away deals from earlier this year and is currently $500 more than its latest price point.
From September 2020 through to February 2021 the MG 3 Core with navigation was priced from $17,190 drive-away, stepped up to $17,490 drive-away in March 2021 preceding changing to $17,990 drive-away from April from to June 2021. It currently costs $18,490 drive-away.
Simultaneously, notwithstanding, the MG ZS EV presently likewise accompanies a seven-year, unlimited-km warranty – up from five years – per the rest of the MG range.
While the new MG HS Plug-In Hybrid is presently likewise $1000 pricier at $47,990 drive-away as of July 1, the MG ZS EV remains Australia’s most affordable EV.
At under $45K drive-away, it undercuts by at least $5000 the Nissan LEAF hatch (from $49,990 plus on-road costs) and the Hyundai IONIQ Electric fastback, the beginning cost for which additionally expanded by $1000 this month to $49,970 plus ORCs.
Co-unexpectedly or not, the $1000 price rise for the two EVs comes a month after most state governments started offering subsidies for electric vehicles, including a $3000 rebate plus free stamp duty in NSW.
Notwithstanding the first cost increment, since it showed up in Australia last November, the MG ZS EV additionally remains inconceivably less expensive than some other electric SUV, including the Hyundai Kona Electric (from $62,000 plus ORCs), the firmly related Kia Niro EV (from $62,590 plus ORCs) and the forthcoming Mazda MX-30 Astina Electric ($65,490 plus ORCs).
Be that as it may, Hyundai Australia will soon introduce a cheaper, shorter-range version of its Kona EV and has guaranteed up to 23 new EVs, Mazda Australia is plotting five new EVs and fellow Chinese brand GWM is looking at a trip of budget EVs under the Ora brand.
Additionally going up in cost from July 1 was Australia’s top-selling light vehicle, the MG3 (presently from $17,990 drive-away – up to $1000) and the MG ZST 1.3 (presently from $29,990 drive-away – up to $500), while the MG HS Vibe is currently $1000 cheaper at $30,990 drive-away.
2021 MG 3 Australian pricing, starting from 1 July 2021
MG 3 Core – $17,990 (up $500)
MG 3 Core Nav – $18,490 (up $500)
MG 3 Excite Nav – $19,490
2021 MG ZS Australian pricing, as of 1 July 2021
MG ZS 1.5 Excite – $21,990
MG ZS EV Essence – $44,990 (up $1000)
MG ZS Excite Plus and Essence models have been discontinued, following the extension of the ZST range in June 2021.
2021 MG ZST Australian pricing, as of 1 July 2021
MG ZST 1.5 Core – $25,490
MG ZST 1.5 Vibe – $26,990
MG ZST 1.3 Excite – $29,990
MG ZST 1.3 Essence – $32,990
2021 MG HS Australian pricing, as of 1 July 2021
MG HS 1.5 Core 2WD – $29,990
MG HS 1.5 Vibe 2WD – $30,990
MG HS 1.5 Excite 2WD – $34,990
MG HS 2.0 Excite X AWD – $37,990
MG HS 1.5 Essence 2WD – $38,990
MG HS 2.0 Essence X AWD – $42,990
MG HS 1.5 Essence Anfield – $40,690
MG HS 1.5 PHEV 2WD – $47,990 (up $1000)
All costs listed are drive-away. All figures are right starting on 1 July 2021 and are subject to change.