New Year Sales! Chery joins EV price slashing party, trimming $6k from its Omoda E5 SUV

January 11, 2025January 11, 2025 Iain Curry 332 Views 0 Comments cheap EV, chery omoda e5, ev prices australia, Omoda E5

Chery’s slow-selling Omoda E5 electric SUV has been given a $6000 price cut, dropping cost of entry to $36,990 before on-road charges.

The haircut means the Omoda E5 BX is now the most affordable electric SUV available in Australia, undercutting the MG ZS Excite ($39,990 drive-away) in some states.

Slowing sales and increased competition across the EV landscape has led to something of a price war on our shores, especially at the budget end of the market.

Only this week, the elderly Nissan Leaf reduced from $50,990 plus on-roads to only $34,990 drive-away.

It was also announced the BYD Dolphin Essential will cost $29,990 plus on-roads when it arrives in March, while the GWM Ora hatchback currently costs $33,990 drive-away and MG4 Excite 51 $34,990 drive-away.

Returning to the Chery, since its September 2024 launch, its Omoda E5 electric small SUV has sold only 197 units.

Chery Omoda E5 – now from $36,990 plus on-roads, making it Australia’s cheapest EV SUV

We criticised the E5’s pricing at its launch, predicting it would struggle to sell in great numbers as it was priced too closely to rivals from more established brands, such as a Hyundai Kona Electric (from $54,000) and the Tesla Model 3 (from $54,900).

The E5 uses a single front-mount electric motor offering 150kW and 340Nm, has a 61.1kWh battery, 430km range and maximum charge speed of up to 80kW.

Chery no doubt hopes the $6k price slash will boost sales, stating the offer will only be for a limited time.

MG tried the same trick in September and October 2024, dropping the price of its MG4 Excite 51 to $30,990 drive-away nationwide. It didn’t help MG’s profit margin, but sales surged.

For EV SUVs, the Omoda E5 BX is the new price leader in certain states, trumping the $39,990 drive-away asked for the MG ZS.

Different on-road fees determine whether you can drive one away for under $40,000 or not.

In Queensland, for example, you’re on the road for $39,480 and in the ACT for $39,004. But NSW buyers must stump up $40,300 and Victorians $40,527 to be in the traffic.

A higher-specification Omoda E5 EX also benefits from the $6000 chop, it now available for $39,990 before charges.

For cheapie chasers, this week we also learned the BYD Dolphin Essential will cost $29,990 plus on-roads when it launches in March, while the GWM Ora hatchback currently costs $33,990 drive-away, and MG4 Excite 51 $34,990 drive-away.

On the SUV front, the incoming BYD Atto 3 Essential will cost $39,990 plus on-roads.

We can expect the price war to intensify in 2025, as ever more Chinese EV brands muscle onto our market.

← 2024 EV sales in Australia: A deep dive into the electric car market that saw Tesla drop, BYD grow – and 10 new brands enter the market

Iain Curry

A motoring writer and photographer for two decades, Iain started in print magazines in London as editor of Performance BMW and features writer for BMW Car, GT Porsche and 4Drive magazines. His love of motor sport and high performance petrol cars was rudely interrupted in 2011 when he was one of the first journalists to drive BMW's 1 Series ActiveE EV, and has been testing hybrids, PHEVs and EVs for Australian newspapers ever since. Based near Noosa in Queensland, his weekly newspaper articles cover new vehicle reviews and consumer advice, while his photography is regularly seen on the pages of glossy magazines.