MG ZS EV electric car price cut for second time in four months as sales slump

The MG ZS EV small electric SUV from China has had its second price cut in four months – this time up to $6000 before on-road costs, or up to $6425 drive-away – amid a wave of newer and more high-tech rivals.

It has followed a 35 per cent sales decline in the three months to September 2023 – compared to the three-month period to June 2023 – in an electric-car market down 12 per cent.

After reductions of $1000 to $3000 before on-road costs in July, MG Australia has cut a further $1000 to $6000 off the RRP of the ZS EV – now $40,990 to $49,990 plus on-road costs – for November 2023.

Once on-road costs – such as stamp duty, registration, third-party insurance and dealer delivery charges – are included, the savings are between $1360 and $6425, depending on the model grade and where the vehicle is registered.

The cuts to drive-away prices are greater than the reductions to the RRP (before on-road costs) in all states and territories – and for all models –except the Excite and Long Range models in Tasmania and New South Wales.

The MG ZS EV Excite and Essence is up to $4361 cheaper than they were at the start of this year – and up to $3703 than at the end of last year, before nationwide drive-away prices were replaced on 1 January 2023 by drive-away prices which vary based on differing government costs in each state and territory.

The entry-level ZS EV Excite is now priced from $40,990 plus on-road costs, down $2000 – or between $42,287 and $44,805 drive-away, down $1360 to $3385.

It cements its position as the cheapest electric SUV in Australia – ahead of BYD Atto 3 Standard ($48,011 plus on-road costs), also from China – but is not the country’s cheapest electric car outright, which remains the BYD Dolphin Dynamic hatchback ($38,890 plus on-roads).

The ZS EV Excite is no longer in production for Australia, however it is still listed on MG’s website as there is stock left in showrooms.

The standard-range ZS EV Essence is now priced from $43,990 plus on-road costs, down $1000 – or a more significant cut of $2240 to $4544 to the drive-away prices, which are now $45,287 to $48,157.

Meanwhile the top-of-the-range ZS EV Long Range – which was not included in the July 2023 price cuts – has received the largest price cut, now $49,990 plus on-road costs (down $6000).

While in other states and territories between $5973 and $6425 of the RRP reduction is passed on in the drive-away price, in Tasmania the new drive-away price is $53,284 – a cut of only $4000.

It exceeds a limited-time $5000 discount offered by MG Australia on the ZS EV Long Range which ended at the end of last month.

In the ACT, New South Wales and Northern Territory the base-model MG ZS EV is now cheaper than the previous model was when it launched three years ago for $43,990 drive-away, with a smaller battery pack.

The November price cut for the MG ZS EV is the latest in a price war between Chinese car giants BYD (Build Your Dreams), GWM (Great Wall Motors) and MG (part of the state-owned SAIC group) to offer Australia’s cheapest electric vehicles.

Among them is the MG 4 electric hatch, which arrived in Australia this August priced from $38,990 to $55,990 plus on-road costs.

In August and September 2023 MG reported 941 examples as sold – compared to just 325 MG ZS EVs, which is less than the 387 deliveries reported in June 2023 alone.

MG reported 569 ZS EVs as sold between July and September 2023 – down compared to the 871 reported between April and June 2023, and 916 between January and March 2023.