Two electric car price drops herald in 2024

Two carmakers have dropped the price of two key electric cars in the first weeks of 2024, ushering in the new year with enticing discounts for those thinking of going electric.

On Friday, the GWM Ora officially became the cheapest EV in Australia, undercutting the MG MG4 (priced from $38,990 before on-roads) and the BYD Dolphin (priced from $38,890 before on-roads.)

But it is only for a brief time. With $3,000 NSW government EV rebates now slashed in favour of more charging infrastructure, GWM is hoping to attract new car buyers with a $4,000 price drop for its Ora electric hatch range until the end of March.

This means the entry-level Standard Range Ora with 48kWh battery is now priced from $35,900 before on-roads ($37,044 driveaway in NSW), while the Extended Range with 63kWh battery starts at $41,900 ($43,044 driveaway in NSW.)

In its Ultra trim, the Ora is now priced from $44,900 before on-roads ($46,044 driveaway in NSW) and the Ora GT is now priced from $47,900, bringing it just under $50,000 - $49,044 to be exact – driveaway in NSW.

The price drops come after GWM slashed the Ora price in 2023 to match sub-$40,000 pricing of the BYD Dolphin and the MG MG4, announced within days of each other in mid-2023.

Despite that drop, GWM has struggled to attract much interest in the Ora: for the entire year, it sold 526 units - half of that of the BYD Dolphin hatchback, which sold 925 units, and just a fraction of the MG4, of which MG sold more than 3,000 units.

Although the Ora arguably has more street cred with its retro-modern exterior and interior compared to the rather sedate BYD Dolphin, and the edgy-on-the-outside but boring-on-the-inside MG4, it has a shorter driving range (310km for the Standard Range Ora compared to 350km WLTP for the entry-level MG4, for example.

It does, however, do better on power at the bottom end of the price scale compared to the Dolphin (126kW/250Nm compared to 70kW/180Nm). No doubt GWM hopes the new price will tip buyers in its favour as 2024 takes off.

Meanwhile, Hyundai has cut two trims from its successful Kona Electric range, dropped $500 off its entry-level Standard Range, and upped the price for its range-topping Extended Range. 

As a result, both the Highlander trim for the small battery option and the Elite trim for the large battery option are gone.  

The new $54,000 (before on-roads) Standard Range Kona Electric is not only a bit cheaper, but it has more driving range (370km compared to 305km). The tradeoff however is a less powerful motor, delivering just 255Nm compared to the previous 395Nm. 

The Extended Range Kona Electric now costs an extra $6,800, starting at $68,000. While it delivers less torque than before, it also offers more driving range – 505km WLTP rolling on 17” wheels. Upgrade to 19” wheels though, and the range will drop to 444km WLTP.  

In addition to the price and power changes, the latest Kona Electric features a fresh look and range of tech features.  

On the outside, a more refined nose combined with chrome accents give the 2024 Kona Electric an extra edge. LED positioning lights and a pixelated graphic illumination are also exclusive to the premium variant.  

A 12.3-inch full digital instrument cluster and a 12.3-inch multimedia system now sit on the dash, while a shift by wire drive selector on the steering column allows for more storage space in the centre console.  

An interior vehicle-to-load (V2L) power outlet comes as standard, as do LED headlights, dual-zone climate control, heat pump cabin heating, battery conditioning, and a wireless smartphone charger. 

The Premium variants also offer 19-inch alloy wheels, leather upholstery, heated and ventilated seating, a heads-up display, premium eight-speaker BOSE audio, remote smart parking assist, a wide glass sunroof, and a smart power tailgate. 

Over-the-air software updates are also finally now on the menu, while Hyundai's new “SmartSense” suite brings a range of high-tech safety features.
 

These features consist of forward collision avoid assist, blind spot warnings, driver and forward attention warnings, high beam assist, speed limit assist, lane following and keeping, rear occupant alert, and smart cruise control with machine learning that fine-tunes based on driving habits.

The cargo area in the back is larger, increasing by 33 litres, and there is also a 27-litre front cargo area (also known as a "frunk", or front trunk.) The second row has more legroom and shoulder room, providing a more comfy ride for rear-seat passengers. The 2024 Kona Electric can tow 750kg braked and 300kg unbraked, and it comes with a space saver tyre.