Looking into 2025, the NVES and Federal Government subsidies may make EVs cheaper for Australian consumers, as car manufacturers aim to reach record low prices.
The local distributor of Chinese hybrid and electric-car giant BYD has announced a goal to become the best-selling new-car brand in Australia by the end of the decade. BYD arrived in Australia in late 2022.
It is one of several importers aggressively approaching the Australian market in light of the new NVES scheme. Whether the cheaper priced offerings will turn around the slowing growth of EVs will be a keen focus for 2025.
CEO of BYD’s Australian distributor EVDirect, David Smitherman, told local media the company has “strong ambitions” to double its sales from 12,500 in 2023, to 25,000 in 2024, and 50,000 in 2025.
Executives for the company have stated an ambition to reach the top five brands in Australia by 2025. This would mean BYD would need to sell about 70,000 cars annually, outselling the likes of Tesla, Subaru, Isuzu, MG, Volkswagen and Mitsubishi.
New pricing for EVs
According to Drive, BYD will become the first auto brand to sell a new battery electric vehicle priced under $30,000 in Australia.
The new BYD Dolphin Essential, which will be priced from $29,990 plus on-road costs when it launches in March. The move was forecast by EV Central last year.
As EV pricing currently stands it will slot in just under the $33,990 drive-away GWM Ora once on-road costs are taken into account.
But it’s still more expensive once on-road costs are taken into account than the $30,990 drive-away the MG4 Excite 51 was pitched at back in late 2024.
“This is a win for the everyday Australian, and a significant moment in Australia’s automotive evolution,” EVDirect CEO David Smitherman said in a press release.
“We’re delivering on our commitment to simplify the transition to new energy vehicles. The ‘Essentials’ range is designed to break down another barrier to EV adoption.
“Importantly, despite significant savings, the Essentials range doesn’t compromise on safety, driveability or range.”
Other brands discount
Another major player from China, Chery Australia has also announced a significant New Year bonus on the Omoda E5 electric vehicle, that it claims will make “sustainable transportation even more accessible to customers nationwide.
A $6,000 bonus applied to all E5 models, reducesg the starting price to $36,990 MSRP (BX model), down from $42,990 MSRP making Omoda E5 the most affordable electric SUV model in the Australian market, the company has said.
“At Chery, we are committed to accelerating the transition to clean energy by making electric vehicles more affordable for everyone, and easing the burden for consumers in these tough economic times” said Lewis Lu, CEO of Chery Australia.
“A key focus for Chery in 2025 will be building our New Energy vehicle credentials, and this is just the beginning of an exciting year ahead, with several new model launches to come.”