Interested in an MG4 now the price is crazy good? Please subscribe to this channel, and check my MG4 playlist (ua-cam.com/play/PLiebErFkbeWBWTeVBiRSUL73hc7Lb-Bzx.html) which covers everything from delivery day videos, reviews of ownership plus other useful videos about charging, adding dashcams and many more!
Bought MG64 Essence months ago. No regrets about the price we paid at all. Buying into a new rapidly improving technology where new features and better value for money (hint: computers) means you could have got a better deal (but missed the benefits of ownership) is not new. A good deal is still a good deal. Good luck with asking for a retrospective discount.
Not asking for a retrospective discount - not even asking for the 7 year warranty to be brought into line with the 10 year warranty. I'm still bitching about no over the air updates though, this is where the MG4 is severely lacking behind every single other EV brand. In the year I've had the MG4, my Tesla has had about 6 software updates remotely.
I don't understand the complain about car prices dropping. Car is a depreciating asset. I buy for what my need and smiles per miles as bonus, not how much resale value I would get. Otherwise I would have Toyotas only. We have a Renault Captur 2021 and a Tesla Model 3 RWD 2019 which I bought used. Both depreciated. My wife use the Tesla as a mostly city car. In a couple of years a sub $30k EV bought new can easily replace the Tesla.
In my fleet Landcruiser 70 series => appreciating Prado => stable Honda Jazz => appreciating MG4 remains to be seen, was ready to buy used for $34k before the awesome price cut. Brand new, $10k cheaper, and 10 yrs warranty
Toyotas hold their value incredibly well. The MG4 won't, especially with MG killing the resale market, retained value and brand value with their marketing "strategy".
My Hyundai Ioniq 28 yes 28 kwh battery was $50,000 brand new 6 years ago, so taking inflation into account it cost $55,000 now it is worth maybe $15k but I love the drive and enjoyment it gives me driven $75k kms bought it as a 18 month old demo with only 1900 kms on the clock for $37,000. Looking at the 77 MG4 over the past 12 months and wow look at the price now ! This is technology it is moving at a fast pace. Same like PC's $1500 today buys so much pc compared to $1500 PC 10 years ago.
1 month later I lost 7-8 grand on my my24 mg4. I’m not entirely happy but I will be telling my family and friends to buy one now that the mg4 is cheap.
Likely they are making way for the new MG electric SUV, the S5. As well as trying to secure market share before other EVs arrive in Aus in 2025 like Geely EX5 and Leapmotor C10. Both of which the tech far exceeds the MG4. There is a reason why they are trying to run it out the door now.
Things like these happen but at the end of the day you believed the car was worth the amount you paid for it which is why you did it, and this doesn’t change that :)
@@Paul-kp1tu silly to no petrol forever? Silly to less maintenance? Silly to better NVH? Silly to a better drive than most cars? You are the silly one.
It’s great to see MG leading the way. EVs need to be taking on the auto industry prices. We enjoy our MG4 a lot. Getting more people to buy an EV and benefit from the advantages of EV driving is a good thing.
Here in NZ I am still quids in. MG4 51 reduced (to date) by only $4k NZD, I got a $7k NZD rebate, so still $3k ahead. National discontinued rebate. Also note paint colour is free not additional $700 AUD. Will be interested if MG reduces MG4 to AU level say $35,500NZD, that would be value for money. Have to check UK price now!
I ordered my MG4 77kwh early this year for around $60,000, and they dropped the price by $7000 before I collected it in May, so the dealer honored the new lower price when I collected it. I’m not stressed about the price dropping further - it is what it is - as I never buy a car for its resale price. I expect to keep this for many years to come. I take your point about the industry conditioning people to constantly wait for another price drop. I do think the prices will settle soon, though, somewhere near the level they are in China where most of these come from.
Agreed - if you keep your car for the long haul, this price slashing event doesn't really make much difference in the long run. Perhaps more of an issue for someone planning to sell and change in 3-4 years or so. Compared to some of my old ICE cars which would've cost a fortune at the mechanics if I wasn't repairing myself, the lower expected maintenance and runnings costs of (any) EV makes it a good choice for most consumers.
Bought a long range 77kw pretty much same time as you did. In WA was a $3500 rebate and i think its still available. Hey if they cut the price by 10k, that's life i guess. I live mine and now 24000km on it. Hasnt missed a beat and not had any issues that others have experienced. It's my first EV and wanted to see if I can just have an EV as primary car. Been fine so far and in 12 months used a public charger once. My daily drive. All new tech will devalue pretty quick. Anyone who buys a car thinking it's an investment in any way is dreaming. Yep only a 7 year warranty too but hey that's life. I bought mine on a 3 year novated lease so will need to check how that actually affects things at lease end as I thought that value was pre calculated based on a std ATO devaluation to calculate the balloon payment..... I do agree with the damage the price cutting will do in terms of making buyers nervous about committing..
I've got a 1yo 51, too. Had $6K QLD rebate, but rebates are for the $tealerships to cash in on......not for punters. I've done over 20,000Kms in the MG. My plan is to drive it till something with better ADAS, & FSD comes along, but I'll wait for prices to drop & for the car to prove its self 1st.
Paid cash for an MG 4 Excite 51 at the beginning of the year. Now they're $10K cheaper. Don't care. That's life. You can't predict this stuff. It's the perfect car for us. Puts a smile on both our dials.
It's a great drive that's for sure. And plenty of early Tesla Model Y purchasers will agree you can't predict that their cars would be sold for $15,000 less after 1 year
Loved the rant Tim! I love my 1999 wrx but will be looking to by the mg4 64 exicte tomorrow! Its too good of a deal to pass up and im rdy to make the switch. Sorry to the recent buyers but also great news for new buyers
Still got your '99? The last of the GCs/GFs are definitely a collectable, think I've missed the boat on those ones. Always wanted a steel blue mica evo. MG4 is still a good drive and best value for money right now
@bozugarage Still got it, but up for sale unfortunately :( Dont have the space or finance to keep it, but im rdy to move it on to someone who will nurture it.
@BrianTonei2 Any good bargaining techniques for these guys? It will be a phone call from the manager on monday to get the final price, one of the salesmen said its probably about 33990 driveaway. I thought that was pretty good 😅
When I signed my contract and paid my deposit in Feb 24, the price dropped while I was waiting for my MG4 Essence to arrive. About 6 weeks after signing, the price dropped by $4K and I thought, that’s typical, I’ll lose out! Not so, my contract was re-written at the lower price. Am I sad that the price has dropped so significantly? Yes. Am I sorry I bought my MG4. Nope. I’m planning on keeping it as long as possible, probs the last car I’ll buy, so maybe my kids will be the ones who miss out!! Having said that, I’d probably prefer they put some of those $$$ into upgrading the onboard computer systems and some of the annoying bits. Like not being able to set and forget driving preferences.
It's good the price drop was honoured in your contract - plenty of Toyota buyers are being scammed by dealerships, where their car delivery is delayed 12-18 months AND they're asked to pay thousands more in increased prices. The one thing - ONE THING that would make me happy about MG4 ownership is for over the air updates to be enabled, which would fix all the dumb little software bugs in the car.
What it means is that the current model is being run out for the next. I just bought the MG4 Essence 64 for $42000 and it was the MY23 plated care. The Discount has been stopped last week. Also the car tech is getting better so new cars will come in and older cars will be discounted to make space for the new.
The fact that price could be cut off so significantly means that manufacturing cost of EV much less than for ICE cars. And it's good for us, for consumers.
My biggest fear is my partner will find out the EV I bought at the start of the year costs $10,000 less today Otherwise perhaps today could be seen the tipping point where people start buying EVs instead of ICE vehicles I wonder how many people will forgo the deposit they paid on an ICE vehicle and buy an MG4 instead What is this going to do to the trade in price on all vehicles
Well, I can tell you what it's going to do to the trade in/residual prices of MG4s - MG have decided to embrace the "cheap disposable car manufacturer" tag by killing their own resale market with these price massacres. My MG4 51 which I paid $39,000 for a year ago is probably worth $15,000 as a tradein today (there's demo MG4s currently advertised for $25,000 now). So basically there's no point even trying to trade it in - fortunately my wife doesn't like changing cars so she's happy to keep it 10 years, at that point the car is worthless. Planning to get rid of an MG4 after a 3 or 4 year lease? Expect actual market tradein values to be $8,000-10,000. Let's see how this comment ages in 2027.
To save a few bucks in petrol wasn't worth it getting in early .However current pricing more in line and competitive with ice it's a no brainer. Rebates end funny how they drop in price.
Not Toyota or Subaru Bev, as they don't sell much. Euro Luxury or most Euro brands, as they would hold their value higher. The plus is MG has a 10 year warranty.
Why do I get the feeling that after that 10 years, the MG will be worthless? The brand has decided to pursue a cheap disposable car niche with their pricing activity. So be it
EV prices around the world have been dumping for a while, not so much in Australia as the 2nd hand market is still tiny, my 2017 I3 cost about 3x as much as they are in the US
Classic government subsidy here in Qld that ended on 2nd September, those who took the subsidy ended up paying 4k-6k more after subsidy only a few weeks earlier. I predicted that would happen in a year or 2 even I didn't think 2 weeks.
I think subsidies for EVs will be all done and finished pretty soon, especially with the economy the way it is, governments being bankrupt, and plenty of new EV brands coming to the country.
Good for the new buyes definitely bad for existing owner. However you not going to keep for a shortwhile unless you lease it but then you need to think about the balloon, the impact of this price drop and for owning 10 years is simply negligible.
Exactly right. While I tend to change my cars as 12-18 months (I have some form of car ownership adhd) my wife doesn't like changing cars at all, so she'd be happy to keep her MG4 10 years. Potentially a much bigger problem for those leasing I think
Tim, did you check the MG4 dealers website? I checked when vid was 26 mins ago and in WA price is still 41K as it was last week. I suspect prices drops are coming very soon, so maybe a little premature when vid was uploaded.
I have good feelings - for better - about these price drops because I don't yet own one, but I want one. Am still too stingy to pay $31k, so I will keep watching as the prices keep dropping and legacy auto are decimated. Ah, good times.
The new Kia EVs are amazing - love the styling inside and out, the whole chunky box thing works for me. The only stupid little frustration I have, is that the stalk mounted gear shifter works opposite to my Tesla so I'm sure I'd do something stupid if I had one. Can't wait for the EV3 launch, hopefully soon
You flatter me by saying too young :) I remember saving up for months to buy a $850 soundblaster 16 and CD-rom drive for my 386 desktop, so I'm well aware of the early adopter tax. However this fire sale pricing of the MG4 isn't a classic early adopter scenario, where products are improving each iteration combined with a price drop - it's just absolute desperation to move current stock, and ignoring the future effects on any new products they choose to launch. Who would buy a new EV from MG, knowing that it could/might/will be on sale 25% cheaper in 12 months time?
@@AuntySooSoo394 BYD Sealion 6 is $20k USD which is $30k AUD. It retails in Australia for about $47k AUD .. $17k difference. .... but MG4 in China is about $ 115k RMB which is $23.6k AUD. The difference between AU and China is only ~$7.5k !!!! . This makes the purchase of any BYD a risky proposition.... even though I like their cars more.
@martintsang1662 At the moment, I only have eyes for the Volvo EX30 Ultra, which, frustratingly, went up in price by $1,300. It doesn't make sense to get it when other brands are slashing prices.
@BrianTonei2 Got a quote for 72k for single motor. Way too much. Will test drive a few more cars to see if any of them come close to the feel of the EX30.
Before putting a deposit on the MG4 I went to Volvo saying "shut up and take my money!" but they couldn't promise delivery within 3 months (which ended up blowing out to about 12 months!). I've only sat in the EX30 and it's a beautiful interior, but I can't fathom why anyone would pay $40,000 more for one over a runout MG4. Maybe wait a few mnonths and see if Volvo slash and burn the price 20-30% on the EX30 like MG have done with the MG4 - I wouldn't be surprised since there's a massive amount of competition coming in the next 6 months,
Almost. Mobile phones at least get vital security software updates wirelessly, the MG4 doesn't :( With a lot of new EVs coming onto the market I highly recommend potential buyers to consider the importance of Over The Air Updates when buying a new EV - the MG4 does NOT have Over The Air updates.
governments wants to say that EV"s are the way forward and move towards net zero! millions of pounds have been spent on charging station esp in London. every 10 minutes walk you would find a few charging station. the sad fact very few people are using them. not sure if people know this, in the UK government were paying people to take their old car off the road. scrap for cash System. in the end government said we are not paying you!
In Australia there was a similar government buyback of old cars for a while, "cash for clunkers" or something similar. Then of course the government ran out of OUR TAXPAYERS money and decided to stop it. I have mixed feelings about subsidies in general. If I'm getting money, that's great - if someone else is getting it, I don't like it (well, that's generally how it goes lol!)
AU will be a dumping ground for CN EV's resulting in a price war. Waiting for Fiat to slash the price of their 500e Arbarth and grab a green one for putting round here in Sydney.
Well in New Zealand, the 500e dropped from $59,990 to $34,990 - guess they're even more desperate than MG to clear out stock at any expense! Same might happen here, apparently 500e sales in Australia can be counted on one hand.
Cant wait and waiting for decent EV price, like 20k would be great with 7 yrs warranty and maybe last 10 yrs? Hahahha, only in China now that EV is kinda offordable for their average consumers. On the brightside of things, meaning EV is becoming mainstream and affordable.
Well, I think in the next 6 months you can pick up an MG4 51 with a few thousand kilometers, and the balance of the 10 year warranty for $25,000 or less. And in 12 months from now (so by the end of 2025), definitely used MG4 Excite 51s will be at the $20,000 mark with 9 years remaining on the warranty, which is a crazy low price. However just bear in mind there is an expensive servicing requirement on the MG4 to keep its warranty - I'll do a video about servicing costs, third party servicing and warranty later on.
You're not an idiot, Tim. I was looking at the MG4 last year but your video on the sudden braking 'safety system' was a big red flag that prevented me from pulling the trigger, thanks to you and your wife's documented experience. Hopefully you've had safe travels in your MG4 since then and no reoccurrence. I can understand the dilemma that EV manufacturers have, EVs are just like mobile phones since the batteries are non removable and have a limited shelf life they need their dealers to move them on and cut profits, ready for the next model. Burn and churn. Manufacturers should have a longer model cycle of say 4 years, and offer customers staggered cashback lump sums plus interest over 4 years in order to reserve the MSRP, or include 10 years of servicing costs as part of the MSRP. MG could really impress once their safety software is up to par.
MG provides a 7 year guarantee on the car AND battery. The MG is specifically designed to allow for easy battery replacement anyway. The lifespan information on CATL batteries is not the same as LG Panasonic ones.
Plenty of people bought the MG4 at $30,990 when the price initially dropped - they sold 5x as many compared to previous months. If you didn't jump on it immediately and stocks ran out, that's another thing.
The Chinese EV companies are able to do the price cuts because of government rebates they get in China. If only the Australian government would push our rebates higher in line with the rest of the world but nah our government just wants to fine us for anything
Along with everyone else who had an MG4 prior to this week. My question to you, as a fellow MG4 owner, would you recommend the MG4 to others or not now?
I just checked the site and saw the MY24 model is now $30,990 in Melbourne VIC. I literally just bought mine on the 19th of August for $40,990 which is exactly one month ago the the T. Is there anything I can do about this? I feel absolutely gutted about my purchase now.
Interested in an MG4 now the price is crazy good? Please subscribe to this channel, and check my MG4 playlist (ua-cam.com/play/PLiebErFkbeWBWTeVBiRSUL73hc7Lb-Bzx.html) which covers everything from delivery day videos, reviews of ownership plus other useful videos about charging, adding dashcams and many more!
Bought MG64 Essence months ago. No regrets about the price we paid at all. Buying into a new rapidly improving technology where new features and better value for money (hint: computers) means you could have got a better deal (but missed the benefits of ownership) is not new. A good deal is still a good deal. Good luck with asking for a retrospective discount.
Not asking for a retrospective discount - not even asking for the 7 year warranty to be brought into line with the 10 year warranty. I'm still bitching about no over the air updates though, this is where the MG4 is severely lacking behind every single other EV brand. In the year I've had the MG4, my Tesla has had about 6 software updates remotely.
I don't understand the complain about car prices dropping. Car is a depreciating asset. I buy for what my need and smiles per miles as bonus, not how much resale value I would get. Otherwise I would have Toyotas only. We have a Renault Captur 2021 and a Tesla Model 3 RWD 2019 which I bought used. Both depreciated. My wife use the Tesla as a mostly city car. In a couple of years a sub $30k EV bought new can easily replace the Tesla.
In my fleet
Landcruiser 70 series => appreciating
Prado => stable
Honda Jazz => appreciating
MG4 remains to be seen, was ready to buy used for $34k before the awesome price cut. Brand new, $10k cheaper, and 10 yrs warranty
Toyotas hold their value incredibly well. The MG4 won't, especially with MG killing the resale market, retained value and brand value with their marketing "strategy".
My Hyundai Ioniq 28 yes 28 kwh battery was $50,000 brand new 6 years ago, so taking inflation into account it cost $55,000 now it is worth maybe $15k but I love the drive and enjoyment it gives me driven $75k kms bought it as a 18 month old demo with only 1900 kms on the clock for $37,000. Looking at the 77 MG4 over the past 12 months and wow look at the price now ! This is technology it is moving at a fast pace. Same like PC's $1500 today buys so much pc compared to $1500 PC 10 years ago.
1 month later I lost 7-8 grand on my my24 mg4. I’m not entirely happy but I will be telling my family and friends to buy one now that the mg4 is cheap.
Likely they are making way for the new MG electric SUV, the S5. As well as trying to secure market share before other EVs arrive in Aus in 2025 like Geely EX5 and Leapmotor C10. Both of which the tech far exceeds the MG4. There is a reason why they are trying to run it out the door now.
Things like these happen but at the end of the day you believed the car was worth the amount you paid for it which is why you did it, and this doesn’t change that :)
I have a mate that brought a new xpower for 40k
This is crazy scary
@@Paul-kp1tu silly to no petrol forever? Silly to less maintenance? Silly to better NVH? Silly to a better drive than most cars? You are the silly one.
It’s great to see MG leading the way. EVs need to be taking on the auto industry prices. We enjoy our MG4 a lot. Getting more people to buy an EV and benefit from the advantages of EV driving is a good thing.
Here in NZ I am still quids in. MG4 51 reduced (to date) by only $4k NZD, I got a $7k NZD rebate, so still $3k ahead. National discontinued rebate. Also note paint colour is free not additional $700 AUD. Will be interested if MG reduces MG4 to AU level say $35,500NZD, that would be value for money. Have to check UK price now!
I ordered my MG4 77kwh early this year for around $60,000, and they dropped the price by $7000 before I collected it in May, so the dealer honored the new lower price when I collected it. I’m not stressed about the price dropping further - it is what it is - as I never buy a car for its resale price. I expect to keep this for many years to come.
I take your point about the industry conditioning people to constantly wait for another price drop. I do think the prices will settle soon, though, somewhere near the level they are in China where most of these come from.
Agreed - if you keep your car for the long haul, this price slashing event doesn't really make much difference in the long run. Perhaps more of an issue for someone planning to sell and change in 3-4 years or so. Compared to some of my old ICE cars which would've cost a fortune at the mechanics if I wasn't repairing myself, the lower expected maintenance and runnings costs of (any) EV makes it a good choice for most consumers.
It's wierd that the used price is so low,I rented one for 4 days,it's an awesome solid car
Bought a long range 77kw pretty much same time as you did. In WA was a $3500 rebate and i think its still available. Hey if they cut the price by 10k, that's life i guess. I live mine and now 24000km on it. Hasnt missed a beat and not had any issues that others have experienced. It's my first EV and wanted to see if I can just have an EV as primary car. Been fine so far and in 12 months used a public charger once. My daily drive. All new tech will devalue pretty quick. Anyone who buys a car thinking it's an investment in any way is dreaming. Yep only a 7 year warranty too but hey that's life. I bought mine on a 3 year novated lease so will need to check how that actually affects things at lease end as I thought that value was pre calculated based on a std ATO devaluation to calculate the balloon payment..... I do agree with the damage the price cutting will do in terms of making buyers nervous about committing..
I've got a 1yo 51, too. Had $6K QLD rebate, but rebates are for the $tealerships to cash in on......not for punters.
I've done over 20,000Kms in the MG.
My plan is to drive it till something with better ADAS, & FSD comes along, but I'll wait for prices to drop & for the car to prove its self 1st.
Paid cash for an MG 4 Excite 51 at the beginning of the year. Now they're $10K cheaper. Don't care. That's life. You can't predict this stuff. It's the perfect car for us. Puts a smile on both our dials.
It's a great drive that's for sure. And plenty of early Tesla Model Y purchasers will agree you can't predict that their cars would be sold for $15,000 less after 1 year
Loved the rant Tim! I love my 1999 wrx but will be looking to by the mg4 64 exicte tomorrow! Its too good of a deal to pass up and im rdy to make the switch. Sorry to the recent buyers but also great news for new buyers
Still got your '99? The last of the GCs/GFs are definitely a collectable, think I've missed the boat on those ones. Always wanted a steel blue mica evo. MG4 is still a good drive and best value for money right now
@bozugarage Still got it, but up for sale unfortunately :( Dont have the space or finance to keep it, but im rdy to move it on to someone who will nurture it.
@BrianTonei2 Any good bargaining techniques for these guys? It will be a phone call from the manager on monday to get the final price, one of the salesmen said its probably about 33990 driveaway. I thought that was pretty good 😅
@BrianTonei2 Cheers Brian 🍻
When I signed my contract and paid my deposit in Feb 24, the price dropped while I was waiting for my MG4 Essence to arrive. About 6 weeks after signing, the price dropped by $4K and I thought, that’s typical, I’ll lose out! Not so, my contract was re-written at the lower price. Am I sad that the price has dropped so significantly? Yes. Am I sorry I bought my MG4. Nope. I’m planning on keeping it as long as possible, probs the last car I’ll buy, so maybe my kids will be the ones who miss out!!
Having said that, I’d probably prefer they put some of those $$$ into upgrading the onboard computer systems and some of the annoying bits. Like not being able to set and forget driving preferences.
It's good the price drop was honoured in your contract - plenty of Toyota buyers are being scammed by dealerships, where their car delivery is delayed 12-18 months AND they're asked to pay thousands more in increased prices. The one thing - ONE THING that would make me happy about MG4 ownership is for over the air updates to be enabled, which would fix all the dumb little software bugs in the car.
@@bozugarage I’d love for that to become reality too!
What it means is that the current model is being run out for the next. I just bought the MG4 Essence 64 for $42000 and it was the MY23 plated care. The Discount has been stopped last week. Also the car tech is getting better so new cars will come in and older cars will be discounted to make space for the new.
The fact that price could be cut off so significantly means that manufacturing cost of EV much less than for ICE cars. And it's good for us, for consumers.
My biggest fear is my partner will find out the EV I bought at the start of the year costs $10,000 less today
Otherwise perhaps today could be seen the tipping point where people start buying EVs instead of ICE vehicles
I wonder how many people will forgo the deposit they paid on an ICE vehicle and buy an MG4 instead
What is this going to do to the trade in price on all vehicles
Mmmmm no thanx 🤮
Well, I can tell you what it's going to do to the trade in/residual prices of MG4s - MG have decided to embrace the "cheap disposable car manufacturer" tag by killing their own resale market with these price massacres. My MG4 51 which I paid $39,000 for a year ago is probably worth $15,000 as a tradein today (there's demo MG4s currently advertised for $25,000 now). So basically there's no point even trying to trade it in - fortunately my wife doesn't like changing cars so she's happy to keep it 10 years, at that point the car is worthless. Planning to get rid of an MG4 after a 3 or 4 year lease? Expect actual market tradein values to be $8,000-10,000. Let's see how this comment ages in 2027.
To save a few bucks in petrol wasn't worth it getting in early .However current pricing more in line and competitive with ice it's a no brainer. Rebates end funny how they drop in price.
I don’t think it will go lower than its production price. So that’s a floor price you can be fairly sure of.
Far out I'm going to get one this week , been waiting to switch to electric , now I can afford too. Many thanks
Go for it, it's a ridiculous price for an EV that drives this good with a 10 year warranty!
Not Toyota or Subaru Bev, as they don't sell much. Euro Luxury or most Euro brands, as they would hold their value higher. The plus is MG has a 10 year warranty.
Why do I get the feeling that after that 10 years, the MG will be worthless? The brand has decided to pursue a cheap disposable car niche with their pricing activity. So be it
EV prices around the world have been dumping for a while, not so much in Australia as the 2nd hand market is still tiny, my 2017 I3 cost about 3x as much as they are in the US
Classic government subsidy here in Qld that ended on 2nd September, those who took the subsidy ended up paying 4k-6k more after subsidy only a few weeks earlier. I predicted that would happen in a year or 2 even I didn't think 2 weeks.
I think subsidies for EVs will be all done and finished pretty soon, especially with the economy the way it is, governments being bankrupt, and plenty of new EV brands coming to the country.
Good for the new buyes definitely bad for existing owner. However you not going to keep for a shortwhile unless you lease it but then you need to think about the balloon, the impact of this price drop and for owning 10 years is simply negligible.
Exactly right. While I tend to change my cars as 12-18 months (I have some form of car ownership adhd) my wife doesn't like changing cars at all, so she'd be happy to keep her MG4 10 years. Potentially a much bigger problem for those leasing I think
I just checked there webiste and its still says $41,000
Check mgmotor.com.au/offers/
Just checked and front page is showing $30,990 til Oct 31st.
Tim, did you check the MG4 dealers website?
I checked when vid was 26 mins ago and in WA price is still 41K as it was last week. I suspect prices drops are coming very soon, so maybe a little premature when vid was uploaded.
Check mgmotor.com.au/offers/
it is ture, have to select the dealer website.
Melville MG is advertising MG4 51 Excite for $31k, might be 2023 stock. Ends September.
Prestige European cars manufacturers trying their best to keep price steady to hold the price in 2nd hand market.
I have good feelings - for better - about these price drops because I don't yet own one, but I want one. Am still too stingy to pay $31k, so I will keep watching as the prices keep dropping and legacy auto are decimated. Ah, good times.
Saw a demo MG4 for sale in WA for $25,000, so that's incredible for an almost brand new car!
@@bozugarage yep there are demos for 25-27k. Bargain!
Let's hope the Kia EV3 comes in at a competitive price. Surely they won't start at A$50K 👀
The new Kia EVs are amazing - love the styling inside and out, the whole chunky box thing works for me. The only stupid little frustration I have, is that the stalk mounted gear shifter works opposite to my Tesla so I'm sure I'd do something stupid if I had one. Can't wait for the EV3 launch, hopefully soon
You might be too young to remember the same thing happened to flat screen TVs. The perils of being an early adopter of new tech.
You flatter me by saying too young :) I remember saving up for months to buy a $850 soundblaster 16 and CD-rom drive for my 386 desktop, so I'm well aware of the early adopter tax. However this fire sale pricing of the MG4 isn't a classic early adopter scenario, where products are improving each iteration combined with a price drop - it's just absolute desperation to move current stock, and ignoring the future effects on any new products they choose to launch. Who would buy a new EV from MG, knowing that it could/might/will be on sale 25% cheaper in 12 months time?
I am a cashed up buyer that is afraid to buy. Holding onto my 16yo mazda 2 when i really wanna buy a new car😅... For the reasons you've mentioned
I'm also sitting on my hands, but the coma-inducing blandness of my 9yo Toyota ... 😴
@@AuntySooSoo394 BYD Sealion 6 is $20k USD which is $30k AUD. It retails in Australia for about $47k AUD .. $17k difference. .... but MG4 in China is about $ 115k RMB which is $23.6k AUD. The difference between AU and China is only ~$7.5k !!!! . This makes the purchase of any BYD a risky proposition.... even though I like their cars more.
@martintsang1662 At the moment, I only have eyes for the Volvo EX30 Ultra, which, frustratingly, went up in price by $1,300. It doesn't make sense to get it when other brands are slashing prices.
@BrianTonei2 Got a quote for 72k for single motor. Way too much. Will test drive a few more cars to see if any of them come close to the feel of the EX30.
Before putting a deposit on the MG4 I went to Volvo saying "shut up and take my money!" but they couldn't promise delivery within 3 months (which ended up blowing out to about 12 months!). I've only sat in the EX30 and it's a beautiful interior, but I can't fathom why anyone would pay $40,000 more for one over a runout MG4. Maybe wait a few mnonths and see if Volvo slash and burn the price 20-30% on the EX30 like MG have done with the MG4 - I wouldn't be surprised since there's a massive amount of competition coming in the next 6 months,
It's like the mobile phone on wheels
Almost. Mobile phones at least get vital security software updates wirelessly, the MG4 doesn't :( With a lot of new EVs coming onto the market I highly recommend potential buyers to consider the importance of Over The Air Updates when buying a new EV - the MG4 does NOT have Over The Air updates.
i would say if you want a fun/ toy car get MG now or if you waiting to replace your main car, wait until 2025 it will be so fun for a new EV buyers
Agreed - there will be heaps more EVs on the road in 2025 - doubt any of them will be bargain basement prices initially like the MG4
governments wants to say that EV"s are the way forward and move towards net zero! millions of pounds have been spent on charging station esp in London. every 10 minutes walk you would find a few charging station. the sad fact very few people are using them. not sure if people know this, in the UK government were paying people to take their old car off the road. scrap for cash System. in the end government said we are not paying you!
In Australia there was a similar government buyback of old cars for a while, "cash for clunkers" or something similar. Then of course the government ran out of OUR TAXPAYERS money and decided to stop it. I have mixed feelings about subsidies in general. If I'm getting money, that's great - if someone else is getting it, I don't like it (well, that's generally how it goes lol!)
good on you
AU will be a dumping ground for CN EV's resulting in a price war. Waiting for Fiat to slash the price of their 500e Arbarth and grab a green one for putting round here in Sydney.
Well in New Zealand, the 500e dropped from $59,990 to $34,990 - guess they're even more desperate than MG to clear out stock at any expense! Same might happen here, apparently 500e sales in Australia can be counted on one hand.
Cant wait and waiting for decent EV price, like 20k would be great with 7 yrs warranty and maybe last 10 yrs? Hahahha, only in China now that EV is kinda offordable for their average consumers. On the brightside of things, meaning EV is becoming mainstream and affordable.
Well, I think in the next 6 months you can pick up an MG4 51 with a few thousand kilometers, and the balance of the 10 year warranty for $25,000 or less. And in 12 months from now (so by the end of 2025), definitely used MG4 Excite 51s will be at the $20,000 mark with 9 years remaining on the warranty, which is a crazy low price. However just bear in mind there is an expensive servicing requirement on the MG4 to keep its warranty - I'll do a video about servicing costs, third party servicing and warranty later on.
Insane Can get the mg4 for 25k including the rebate here in Queensland, unless I’m mistaken
Yes you are mistaken, it ended on 2nd September, classic government subsidy those who took the subsidy ended up paying more.
@@arealiti1008 That's so annoying
You're not an idiot, Tim. I was looking at the MG4 last year but your video on the sudden braking 'safety system' was a big red flag that prevented me from pulling the trigger, thanks to you and your wife's documented experience. Hopefully you've had safe travels in your MG4 since then and no reoccurrence.
I can understand the dilemma that EV manufacturers have, EVs are just like mobile phones since the batteries are non removable and have a limited shelf life they need their dealers to move them on and cut profits, ready for the next model. Burn and churn. Manufacturers should have a longer model cycle of say 4 years, and offer customers staggered cashback lump sums plus interest over 4 years in order to reserve the MSRP, or include 10 years of servicing costs as part of the MSRP. MG could really impress once their safety software is up to par.
MG provides a 7 year guarantee on the car AND battery. The MG is specifically designed to allow for easy battery replacement anyway. The lifespan information on CATL batteries is not the same as LG Panasonic ones.
MG has a TSB for phantom braking. Fixed with updated software.
Can't actually buy the thing from anywhere so, can reduce the price to whatever you want if there's none in stock and you won't guarantee the price.
Plenty of people bought the MG4 at $30,990 when the price initially dropped - they sold 5x as many compared to previous months. If you didn't jump on it immediately and stocks ran out, that's another thing.
The Chinese EV companies are able to do the price cuts because of government rebates they get in China. If only the Australian government would push our rebates higher in line with the rest of the world but nah our government just wants to fine us for anything
essence 64 last dec, whatever I've saved on fuel, I've lost 4 times that in devaluation
Along with everyone else who had an MG4 prior to this week. My question to you, as a fellow MG4 owner, would you recommend the MG4 to others or not now?
Man I'm glad i waited.
Keep waiting a couple of months, you'll be able to pick up a lightly used MG4 in 2025 for around $20,000.
If you change your cars as often as you change your pants don't complain about losing money you're doing it to yourself
I just checked the site and saw the MY24 model is now $30,990 in Melbourne VIC. I literally just bought mine on the 19th of August for $40,990 which is exactly one month ago the the T. Is there anything I can do about this? I feel absolutely gutted about my purchase now.
why are u crying? IF you bought for that price is because you thought it was worth to spend 40k, thats how money works
@@MauFeitioO wouldn't matter if you keep it forever but if sold within a few years that's a big hit
This is fantastic news
What does it mean - supply and demand - nobody wants them and they're going cheap!
No they are selling very well. Top 5 selling EV model in 2024 and top 20 model of any car even before the price drop.
That's only for 2023 model in stock only
2024 model too
hahahahahahahah
got it wrong its 27000 on the road.. the media once again stuff up
Is that with a state subsidy? If so it's a ridiculously low price.