China’s MG slashes petrol, hybrid car prices in Australia by up to $6000

Chinese car maker MG has cut up to $6000 from the prices of its petrol and hybrid cars after two years of unprecedented price increases – and up to $10,000 slashed from the prices of its electric vehicles.

It is the second price reduction for petrol-fuelled MG vehicles in Australia in 12 months – but the previous cut was only up to $1000 for a selection of SUV variants.

Effective 1 April 2024, MG has cut $1000 from the price of the MG 3 city hatch, $1000 from the ZS small SUV, $1500 to $3500 from the ZST small SUV, and $3000 to $6000 from the HS mid-size SUV.

It is not believed to be a temporary discount, rather a permanent change to the prices of the vehicles – and effectively resets prices of top-selling MG petrol cars and SUVs to 2021 and 2022 levels.

The MG 3 and ZS are the cheapest they have been since mid-2022, while the ZST Core, Vibe and Excite are at the same prices they launched with in 2020 and 2021 (depending on model).

The ZST Essence, as well as most HS variants – including the plug-in hybrid – are at an all-time low.

The MG 5 sedan is unchanged – and carries the same prices it launched in Australia with last year – but it is due to receive a safety upgrade later this year expected to increase prices.

The price cuts come amid a stall in MG sales in Australia, up 1.2 per cent in the first two months of this year – held up by the new MG 4 electric car and MG 5 petrol sedan, as HS sales are down 63 per cent, and the MG 3 is down 36 per cent.

Last year MG sales grew by 17.7 per cent – but exclude the MG 4 and MG 5, which weren't on sale in 2022, and the increase is only 6.5 per cent, in a market up 12.5 per cent, and sales of all Chinese-made cars up 57 per cent.

The MG 3 will soon be replaced by an all-new model, estimated to command a $5000 price rise. It will offer the option of hybrid technology, expected to add a further $4000 to the price.

Note: All prices listed are drive-away.