If you’re keen to try an electric vehicle or upgrade your current EV, now is the time to do so. Electric vehicles have never been cheaper, new or used, and there are some absolute bargains to be had.
Firstly, high interest rates and rising inflation are pressuring Aussies to reduce spending, which is forcing new car retailers to offer ever more enticing deals. And, as we all know, cheaper new cars force used car values down. Down down, prices are down.
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Secondly, in case you haven’t heard, Tesla is struggling to stay ahead of rising competition from traditional brands, which is why Elon Musk has dropped Tesla prices three times in the last 12 months and is likely to do so again.
Lastly, government EV incentives have all-but dried up, leaving electric cars to compete without assistance against cheaper petrol and diesel-fuelled rivals.
That’s all bad news for EV makers but great news for anybody chasing an EV bargain. For example, how does a practically new MG4 hatchback for 25 per cent less sound, or a Porsche Taycan sports car for half price, or a BMW i7 luxury limo $90K under the norm? Show me the money!
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Anywho, here are five EVs we would buy right now.
2023 MG4
New: $38,990
Second-hand: $28,990
MG’s impressive urban EV hatchback arrived in 2023, is cheaper and better equipped than a top-spec Toyota Corolla, and has the rear-drive dynamics to make an enthusiast smile. A seven-year warranty means there are plenty of 12-month-old usedies with warranty coverage left. We found a [$28,990 MG4 Excite 51] in the classifieds, which is $10K below the new price, but we’d stretch to [this low mileage MG4 Essence 77] which has a bigger battery, more powerful electric motor and more luxuriously appointed cabin. At $47,950 it’s still 10 percent below the $52,990 RRP.
2024 GWM Ora
New: $35,890
Second-Hand: $31,990
The GWM Ora small hatchback is the cheapest EV on the new car market, and for that price you get urban-chic design, a seven-year warranty, 5-star safety rating and a well-equipped cabin. The $31,990 example we found in the classifieds has just 200km on the clock.
2014 Nissan Leaf
New: $51,500
Second-hand: $11,000
If you want to spend even less, and you’re not afraid to buy something a bit older, a ten-year old Nissan Leaf can be secured for as little as $11,000. This one-time EV pioneer would make a great everyday urban runabout. Just remember that it’ll only do about 150km on a charge and the warranty has expired so you’re up for any mechanical issues that arise.
2023 Kia EV6 Air
New: $72,500
Second-Hand: $58,490
Why this instead of a Tesla Model Y? Exclusivity, for starters. Design and dynamics, as well. Sure, the Model Y is a good vehicle mechanically, but it isn’t a great drive and has the visual appeal of a balled-up footy sock. The Kia EV6, on the other hand, is a good-looking rooster that’s loads of fun on the right roads. [This dark blue Kia EV6 Air] is $20K below new and has only 10,000km on the clock.
The Air may be the cheapest variant, but is still well-equipped, spacious inside and a hoot to drive even in this least-powerful 168kW spec. Add to all that Kia’s sharp servicing costs and seven-year warranty and the ownership experience is stress-free for years to come.
2021 Porsche Taycan 4S
New: $238,700
Second hand: $138,000 on Carsales
We’re getting up in price now, but the savings are even juicier if your budget extends this far. This brilliant performance EV is four seconds fast and has loads of street cred and four doors which makes it practical – for a Porsche. Plus, if our calculations are correct, [this particular Taycan 4S] example has more than $30,000 of optional extras fitted which means the first owner is effectively selling it for half-price.
2023 BMW i7 xDrive60
New: $325,500
Second-hand: $278,500
It’s a face only a mother could love, but it’s also the last word in electric luxury right now. Sadly, the BMW i7 is also representative of how EVs are struggling commercially, because [this particular example] has just 1500km on the clock yet is $50K below new. In other words, its first owner ripped up a C-note every three kilometres. Ouch.