Cut price EVs: Which are the best all-electric car deals?

As the 2023-2024 financial year comes to a close, carmakers are offering some great deals on all-electric vehicles (EVs).

This is partly due to clearing stock, and partly due to an ongoing global price war. Competition in the EV market is heating up and Australia is no stranger to this despite lagging on EV uptake.

One deal in particular - $25,000 off the Peugeot e-2008, bringing it down to $39,990 - was so successful that it sold its entire inventory within little more than a week.

And there are still some good deals to be had before the end of June – and for some, beyond that.

While EVs are still generally more expensive than internal combustion engine (ICE) vehicles, they’re worth considering because the savings in fuel and maintenance add up.

Today, we compare five popular models:

• Tesla Model Y RWD,
• Renault Megane E-Tech,
• Nissan Leaf,
• Nissan Leaf e+, and
• Polestar 2 Single Motor Standard Range.  

Tesla Model Y 

The price of the entry-level variant of Tesla’s very popular Model Y electric SUV is down $13,500 compared to what it cost in April.  

With more than 8000 on the road since the start of 2024, the Model Y now costs about $60,000 driveaway (depending on what state you live in.) Though reports say that Tesla is cutting production in Shanghai, it seems unlikely that appetite for the electric SUV will wane soon. 

While pricing for the Model Y is not set to rise again come June, Tesla does regularly alter its pricing, and will typically honour a lower price if it rises after a deposit is paid. Don’t expect to receive a discount, however, if the price drops after the vehicle is paid for in full. 

 

Renault Megane E-Tech  

The Renault Megane E-Tech electric SUV is the French carmaker’s only passenger electric vehicle on the market (it cut the Zoe hatchback several years ago, and production is now on the chopping block altogether.) 

The Megane E-Tech is available in just one variant in Australia and is now priced just below the Tesla Model Y, at $54,900 before on-roads. So far in 2024, Renault has sold just 97 Megane E-Techs. 

Nissan Leaf and Nissan Leaf e+

Both variants of the Nissan Leaf are now selling up to $15,300 below the original sticker price until the end of June. Production for the current model now ended. Word is that an all-new Leaf will be pumped out of Nissan’s Sunderland factory starting 2025. 

For now, the base model Nissan Leaf is priced from $39,990 driveaway nationwide, and the longer range Nissan Leaf e+ is priced at $49,990 driveaway. To date in 2024, Nissan has sold 89 Leafs (including both variants.) 

 

Polestar 2 

In-stock Polestar 2 vehicles are also now available with substantial discounts until the end of June. The greatest discount ($15,000) is on the range-topping Long Range Dual Motor variant, but for the purposes of this article we’ll look at the Standard Range Single Motor variant, which gets a discount of $5,000 to bring its driveaway price down to $68,392. 

Polestar has sold 264 Polestar 2s, inclusive of all variants, so far in 2024. 

Driving range: The Polestar 2 Single Motor Standard Range leads with a 69kWh battery, providing the largest capacity and range among the compared models. It offers 532 km (based on WLTP testing) - the highest of the group, making it a better choice on paper for long-distance travel.

Second choices out of this selection for longer distance travellers are the Tesla Model Y with 455km WLTP range and the Renault Megane E-Tech with 454km range.

Power, torque and acceleration: Tesla Model Y RWD is the standout for power, delivering 220kW from its single rear motor. The 350 Nm instant torque allows it to accelerate to 100km/hr in 6.9 seconds, which is equal to the Nissan Leaf e+.

The Polestar 2 Single Motor Standard Range, however, delivers 490Nm torque from its 200kW motor, giving it the edge at the lights: it can sprint from 0-100km/hr in 6.4 seconds, making it the quickest of the four models, and therefore the best choice for performance enthusiasts out of this selection.

Charge rate: Tesla Model Y RWD nominally takes the lead with a fast 11 kW AC and 170 kW DC charge rate. On a DC fast charger, it will top up from 10-80 per cent in as little as 28 minutes (if the battery is at an optimal temperature), adding around 300km range. On an 11kW wall charger it can charge to full in 6 hours and 15 minutes.

However, Polestar claims that its Polestar 2 will charge from 10-80 per cent in 34 minutes, which would add 380km based on its WLTP range. Though it has a lower top DC charge rate of 135kW, this would mean that its charge curve is flatter (that is, the rate at which its charge speed decreases as its state of charge (SoC) increases more slowly.)

It has the same 11kW AC charge rate, but with a larger battery this means on a wall charger it will take around 7 hours. 

Cargo Space: Tesla Model Y RWD offers the most cargo space with 854 litres in the back with the second row seats up and 2158 litres with the seats down, making it the top choice for those needing maximum storage capacity. It also has a massive 117 litres space under the bonnet (this is also known as the frunk, or “front trunk”), plus another large space under the floor of the boot.

Nothing else comes close in this selection in regards to storage, but it is worth mentioning that the Polestar 2 is the only other choice with a “frunk”, albeit a much smaller one with just 31 litres capacity. However, it also has the smallest storage space in the rear with 405 litres (seats up) and 1095 litres (seats down.)

Towing Capacity: Tesla Model Y RWD excels in towing capacity as well, with 1600 kg braked, 750 kg unbraked, and a max ball weight of 160 kg, suitable for heavy-duty towing needs. The Polestar comes close to this with a 1500kg braked and 750kg unbraked tow rating, and a maximum 90kg ball weight. Read Open Road's review by Tim Pomroy towing with the Polestar 2 here.

The Renault is the only other with a tow rating in this selection. It can tow 900kg braked and 750kg unbraked, and has a maximum 75kg ball weight.

Ground clearance: Tesla Model Y RWD also has the highest ground clearance at 167 mm, making it more capable for rocky roads compared to the other models. The shorter range Nissan Leaf is also quite decent with 157mm ground clearance, whereas the Renault Megane E-Tech has the lowest ground clearance at just 127mm.

Battery chemistry and management: Knowing the chemistry matters because this can impact how often you can charge to 100 per cent, getting the most out of the battery in terms of range.

For example. the Tesla Model Y RWD (and other Chinese models like the MG4 and BYD EVs) has a lithium-iron-phosphate (LFP) battery which Tesla says should be charged to full once a week, for example. This is to calibrate the battery rather than mitigate degradation, but it is also thought that LFP chemistry has better longevity than the nickel-based chemistries (that are used in long range Tesla and other EVs) that should only be charged to 80 per cent most of the time.

Battery warranty: It’s worth noting that all of these models offer an eight-year/160,000 km warranty, providing peace of mind for potential buyers. Note this does not mean the battery will need to be replaced after eight years; only that if degradation falls below a certain amount within that time, the carmaker will replace the battery free of charge.

This is especially important in regards to the Nissan Leaf, which is the only vehicle of the selection that does not use liquid thermal management.

Table: Comparing the specs 

Model	Tesla Model Y RWD	Renault Megane e-Tech	Nissan Leaf	Nissan Leaf e+	Polestar 2 Single Motor Standard Range
Battery (kWh)	60	60	39	62	69
Range (km, WLTP)	455	454	270	385	532
Power/Torque (kW/Nm)	220/350	160/300	110/320	160/340	200/490
Charge rate (kW AC/DC)	11/170	7.4/130	6.6/100	6.6/100	11/135
Acceleration (0-100km/hr, secs)	6.9	7.4	7.9	6.9	6.4
Body style	SUV	SUV	Hatchback	Hatchback	Fastback
Cargo Space (total, litres)	2158	1332	1239	1239	1095
Towing (braked, unbraked, max ball weight)	1600/750/160	900/750/75	0/0	0/0	1500/750/90
Ground clearance (mm)	167	128	157	142	151
Battery warranty	Eight years/ 160,000km	Eight years/ 160,000km	Eight years/ 160,000km	Eight years/ 160,000km	Eight years/ 160,000k
Price before on-roads	$55,900	$54,900	$51,490	$61,490	$62,400 driveaway
Driveaway pricing	$60,842	$59,949	$39,990	$49,990	$68,932
Discount	$13,500 compared to April pricing	$10,000 until end June 2024	$14,300 until end June 2024	$15,300 until end June 2024	$5,000 until end June 2024

Each of these EVs has its own strengths, whether it’s the impressive range of the Polestar 2, the competitive pricing of the Nissan Leaf, or the towing capacity of the Tesla Model Y.

Purely looking at the numbers, the entry-level Nissan Leaf remains the most budget-friendly option with a driveaway price of $39,990, making it the best value proposition in terms of overall cost.

However, it naturally also has the shortest driving range and does not have any tow capability. It is also the slowest to charge, so though it has a smaller 39kWh battery it will still take a good seven hours to charge on a wall charger, and around 60 minutes at a DC fast charger according to Nissan.

The Polestar 2, although the most expensive, excels in battery capacity, range, and acceleration. It can also tow a decent 1.5 tonnes, but it falls down when it comes to storage space (although it at least has a frunk!)

The Renault Megane E-Tech does well on range and price, and does better than the Polestar, the Renault and the Leaf when it comes to storage. Its charging speed is fairly decent but it is and the lowest to the ground and the most conservative drive with 300Nm torque (it does beat the entry-level Leaf on power though.)

The Tesla Model Y RWD costs a good $8000 less than the Polestar, and stands out on power, charging speed, cargo space, towing capacity, and ground clearance.

When deciding, consider your priorities - be it range, cargo space, acceleration, or price – when choosing your first EV to make sure it best meets your needs.