Key Takeaways
- smart cut the list price of the #1 and #3 this year: the smart #3 Pro+ went from $57,900 to $52,900 and the #1 Pro+ from $54,900 to $49,900, before on-road costs
- Audi has priced the 2027 Q4 e-tron quattro at $81,650 and the 2027 Q6 e-tron at $89,900, against $97,935 for the 2026 versions (list price excluding LCT)
- The XPeng G6, Hyundai Inster and Mazda CX-60 plug-in hybrid were also repriced, from $51,800, $37,500 and $56,640 respectively
- Plenty of the lower prices you see are time-limited campaigns, not list cuts: most current EV offers we track end on 30 November, 15 December, 21 December or 31 December 2026
- The AFR reported dealers posted an average 0.2% loss in the September quarter, the first since 2008; the dealer association wants a pause on new brands
- For a novated lease, the EV FBT exemption still turns on the $91,661 fuel-efficient LCT threshold for 2026-27. A cut that takes a car under it changes the tax maths, not just the sticker
Audi Q6 e-tron. Image credit: Audi
If you're shopping for an electric car right now, the headlines can make it feel like you should either buy today or wait six months. Dealers say they're losing money. Brands are cutting prices and throwing in cashback. So what does that actually mean for the person signing the contract?
We've gone through the list price changes we've recorded this year, the offers that are live on their own websites today, and the tax rules that decide what a novated lease really costs. No forecasts and no tips on timing the market. Just what's on record, with the basis and the date beside each number, so you can work out where your car sits.
What the AFR and Others Reported
The Australian Financial Review reported on 5 November that car dealers are asking the federal government to pause new brands entering the country, after the average dealer slipped to a 0.2 per cent loss in the September quarter. The paper cited Deloitte research and said it was the first loss since December 2008, during the global financial crisis.
A month earlier, on 11 October, the AFR reported that EV brands were offering large price cuts and extras to win buyers. One example in that piece was BYD covering $4,360 of on-road costs on the Sealion 7.
TheAutoExec reported on 3 November that Deloitte's Profit Focus figures put the top 30 per cent of dealers at a 2.9 per cent net profit, down from 3.5 per cent a year earlier, and quoted Australian Automotive Dealer Association (AADA) chief executive James Voortman describing conditions as the toughest many dealers had seen. EV Central reported on 8 November that the AADA's 10-point plan asks manufacturers to compensate dealers promptly when price cuts reduce the value of stock already on the lot, and to fully fund discounts they direct dealers to offer. The association says the number of brands grew from 39 in 2021 to 67 in 2026.
Two things are worth keeping straight. The proposed pause would apply to all new brands, not only Chinese or electric ones. And, as EV Central pointed out, the AADA's release doesn't break out how much of the dealer losses come from EVs or from Chinese brands. That's the dealer side of the story, and it's the dealers' own case. The rest of this piece is about your side of the counter.
The List Price Cuts on Record in 2026
A list price cut is the manufacturer changing the car's official price, the figure before on-road costs that stamp duty and a dealer quote start from. This table only holds the EV list price changes where we have the manufacturer's own printed figure for both the old price and the new one, on the same basis. It isn't a full list of cuts in the market, and it doesn't include offers, which come further down.
| Model and grade (electric) | Was | Now | When, and what else changed |
|---|---|---|---|
| smart (list price, before on-road costs) | |||
| smart #1 Pro+ | $54,900 | $49,900 | Old price on smart's configurator in June 2026, new price by late September 2026 |
| smart #1 Premium | $58,900 | $53,900 | As above |
| smart #1 BRABUS | $67,900 | $63,900 | As above |
| smart #3 Pro+ | $57,900 | $52,900 | As above |
| smart #3 Premium | $61,900 | $56,900 | As above |
| smart #3 BRABUS | $70,900 | $65,900 | As above |
| Audi (manufacturer list price excluding LCT, before on-road costs; 2026 car vs the 2027 car) | |||
| Audi Q4 e-tron quattro SUV | $97,936 | $81,650 | 2027 pricing announced 24 August 2026, deliveries from the first half of 2027 |
| Audi Q4 Sportback e-tron quattro | $97,936 | $83,250 | As above |
| Audi Q6 e-tron SUV | $97,935 | $89,900 | 2027 pricing announced 11 September 2026, deliveries from the first half of 2027 |
Compare these picks side by side
6 of them on 200+ specs, price, safety and running cost in one view.
Each price is that car's stored figure with its basis and check date.
Current price on CarSorted: smart #1 Pro+ $49,900 RRP, as at 1 Oct 2026; smart #1 Premium $53,900 RRP, as at 1 Oct 2026; smart #1 BRABUS $63,900 RRP, as at 1 Oct 2026; smart #3 Pro+ $52,900 RRP, as at 1 Oct 2026.
Sources: smart Australia's configurator (a June 2026 archive capture for the old prices, the live page on 1 October 2026 for the new); Audi Australia's price calculator for the 2026 cars (October 2026, rounded to the dollar) and Audi Australia's 2027 pricing announcements (24 August and 11 September 2026). Prices include GST.
Other EVs and plug-in hybrids have been repriced this year too, but the manufacturer hasn't printed the old figure beside the new one, so we show today's price and what the manufacturer says rather than a "was".
| Model and grade | Now | What changed |
|---|---|---|
| XPeng G6 Standard Range (electric) | $51,800 | Updated G6 priced in July 2026, list price before on-road costs. XPeng doesn't print the outgoing car's price beside it |
| Hyundai Inster Standard Range (electric) | $37,500 | List price on Hyundai's calculator by early October 2026. Heat pump no longer listed |
| Hyundai Inster Cross (electric) | $43,500 | As above; the Cross is now sold only with the sunroof |
| Mazda CX-60 P50e Pure (plug-in hybrid) | $56,640 | Repriced in Mazda's July 2026 large SUV update (list price excluding LCT). Mazda now prices each P50e $5,000 above the equivalent petrol or diesel grade |
Current price on CarSorted: XPeng G6 Standard Range RWD $51,800 RRP, as at 11 Nov 2026; Hyundai Inster Standard Range $37,500 RRP, as at 29 Oct 2026; Hyundai Inster Cross $43,500 RRP, as at 29 Oct 2026; Mazda CX-60 P50e Pure $56,640 RRP, as at 6 Sep 2026.
A few things jump out once you read down the right-hand column rather than across the dollar figures.
- Some changes aren't like for like. The Inster's new list price came with the heat pump dropping off Hyundai's list. Audi's new entry-level 2027 Q4 e-tron is a 150kW rear-drive car with a smaller 63kWh battery at $71,650, so we've left it out of the table above: comparing it with the old base car would overstate the saving. The quattro grades in the table keep their 82kWh battery.
- Some cuts arrive with a new model year. The XPeng G6 and both Audis are newer versions replacing an earlier car. If you're looking at a run-out of the older version, its price and the new one aren't the same product.
- The Audis aren't here yet. They're priced, and Audi says the Q4 quattro can be ordered now, but deliveries are from the first half of 2027. Today's showroom Q4 and Q6 are still the 2026 cars. Audi has also priced the 2027 SQ6 at $129,900 and the SQ6 Sportback at $134,900.
- It isn't only Chinese brands. Mazda, Hyundai and Audi are in these tables beside smart and XPeng.
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The Offers Live Today, and When They End
This is the other half of "EV prices are falling". The list price stays where it is and the manufacturer runs a campaign on top: a drive-away figure, cashback, a bonus or a novated lease discount. These are a selection of the EV and plug-in hybrid offers on the manufacturers' own offers pages as at 12 November 2026. Most have an end date.
| Car | Offer | List price | Ends |
|---|---|---|---|
| Electric | |||
| BYD Atto 1 Essential | $19,990 promotional drive-away | $23,990 | 15 Dec |
| BYD Sealion 7 Premium and Performance | $4,000 cashback, or 6% off for novated lease (not both) | from $54,990 | 21 Dec |
| BYD Dolphin Essential, plus Dolphin Premium, Atto 1, Atto 2 and Atto 3 Essential | 6% off the list price for novated lease | from $29,990 | 21 Dec |
| Hyundai Inster Standard Range | $35,990 drive-away | $37,500 | 31 Dec |
| Hyundai Kona Electric Standard Range | $43,990 drive-away | $46,000 | 31 Dec |
| Hyundai Elexio Elite | $59,990 drive-away | $61,990 | 31 Dec |
| Toyota bZ4X FWD | $5,000 plate clearance bonus on 2026-built cars, private and Bronze Fleet buyers | from $55,990 | No end date printed |
| Mazda 6e | $2,000 cashback for novated lease (also CX-6e) | $49,990 | 31 Dec |
| Geely EX2 Complete | $1,000 factory bonus; 6% off for novated lease | $26,490 | 14 Nov (bonus), 30 Nov (novated) |
| Plug-in hybrid | |||
| BYD Sealion 5, Sealion 6, Sealion 8, Seal 6 and Shark 6 | $4,000 cashback on listed grades | varies by grade | 21 Dec |
| Mercedes-Benz GLC 350e 4MATIC | From $98,990 drive-away | $115,900 | 30 Nov |
Current price on CarSorted: BYD Atto 1 Essential $23,990 RRP, as at 16 Sep 2026; BYD Sealion 7 Premium $54,990 RRP, as at 14 Oct 2026; BYD Dolphin Essential $29,990 RRP, as at 4 Oct 2026; Hyundai Inster Standard Range $37,500 RRP, as at 29 Oct 2026.
Offers as printed on each manufacturer's Australian offers page, read by 12 November 2026 (Toyota's from its 31 October page). There are others not shown, including BYD's Dolphin Essential at $28,888 drive-away to 15 December. List prices are the manufacturer's, including GST and before on-road costs. Drive-away offers can vary by state, and many carry buyer conditions (private buyers only, fleet excluded, order and delivery windows). The list price and a drive-away offer are different bases, so the gap between them is not a saving: the drive-away figure includes on-road costs. Check the terms before you rely on any of these.
Real Price Cut or Temporary Campaign? How to Tell
The Inster is a handy example because it has both at once. Hyundai's list price is $37,500, which stays until Hyundai changes it, and it's also running a $35,990 drive-away offer that ends on 31 December. Here's how to sort one from the other on any car.
- Find the list price on the manufacturer's configurator. Brands call it RRP, MLP or "+ ORC". If that number has moved, it's a list price change. If it hasn't and the lower figure says "drive-away", it's an offer.
- Look for dates. "Orders by", "delivered by" or "while stocks last" means a campaign. Some need the car delivered before the end date too, which matters if the colour you want isn't in stock.
- Read who qualifies. Fleet buyers are usually excluded, some deals are novated lease only, and some are for ABN holders. A figure you don't qualify for isn't your price.
- Check whether offers stack. BYD's terms, for example, exclude transactions involving other promotional offers, so a Sealion 7 buyer picks the cashback or the novated discount, not both.
- Compare like with like. A drive-away figure includes stamp duty, registration, CTP and dealer delivery. A list price doesn't. Putting one beside the other inflates the "saving", which is why our tables keep them in separate columns.
- Check what the car comes with now. A new model year can bring a lower price and a different specification. Read the equipment list for the version you're actually buying.
Our price cuts page and deals page keep list price changes and manufacturer offers apart for the same reason.
Mazda CX-60. Image credit: Mazda Australia
Cars in this story
7 cars
Price shown is each car's stored figure with its basis and check date.
See all smart modelsWhere the Cuts Leave the Rivals
A cut only matters against what else you could buy. These are list prices on record in our directory today, before on-road costs, with the WLTP range each manufacturer quotes. Offers aren't included, so the drive-away you're quoted may be lower.
Mid-size electric SUVs
| Car (electric) | List price | Battery | WLTP range |
|---|---|---|---|
| Geely EX5 Complete | $41,990 | 68.4kWh | 475km |
| XPeng G6 Standard Range | $51,800 | 68.5kWh | 480km |
| smart #3 Pro+ | $52,900 | 66kWh | 435km |
| BYD Sealion 7 Premium | $54,990 | 82.6kWh | 482km |
| Toyota bZ4X FWD | $55,990 | 74.7kWh | 591km |
| Tesla Model Y RWD | $58,900 | Not published | 466km |
Current price on CarSorted: Geely EX5 Complete $41,990 RRP, as at 19 Sep 2026; XPeng G6 Standard Range RWD $51,800 RRP, as at 11 Nov 2026; smart #3 Pro+ $52,900 RRP, as at 1 Oct 2026; BYD Sealion 7 Premium $54,990 RRP, as at 14 Oct 2026.
After its cut, the smart #3 Pro+ sits $1,100 above the XPeng G6 Standard Range and $2,090 below the Sealion 7 Premium on list price. The Sealion 7 is also carrying a $4,000 cashback until 21 December, and the bZ4X a $5,000 plate clearance bonus on 2026-built cars for private buyers, so the order on the day you sign can look different from this table. Our Sealion 7 vs Model Y and Model Y vs Geely EX5 comparisons go deeper on equipment and charging.
Small and city EVs
| Car (electric) | List price | Battery | WLTP range |
|---|---|---|---|
| BYD Atto 1 Essential | $23,990 | 30kWh | 220km |
| Geely EX2 Complete | $26,490 | 35.4kWh | 252km |
| BYD Dolphin Essential | $29,990 | 44.9kWh | 340km |
| Hyundai Inster Standard Range | $37,500 | 42kWh | 327km |
| Hyundai Kona Electric Standard Range | $46,000 | 48.6kWh | 370km |
Current price on CarSorted: BYD Atto 1 Essential $23,990 RRP, as at 16 Sep 2026; Geely EX2 Complete $26,490 RRP, as at 4 Oct 2026; BYD Dolphin Essential $29,990 RRP, as at 4 Oct 2026; Hyundai Inster Standard Range $37,500 RRP, as at 29 Oct 2026.
At its current list price, the Inster Standard Range lists at $7,510 more than a Dolphin Essential, which quotes 13km more WLTP range. Both have drive-away offers right now: the Inster at $35,990 to 31 December and the Dolphin Essential at $28,888 to 15 December. Our Dolphin vs Atto 2 comparison covers the BYD side of this bracket.
What Cuts Mean for Resale, and for People Who Just Paid More
We don't forecast resale values, and anyone who tells you exactly what a used EV will be worth in three years is guessing. What we can give you is the arithmetic that doesn't need a forecast.
When the list price of a new car drops, the gap between what an earlier buyer paid and what the same car costs new gets wider. Someone who bought a smart #3 Premium at $61,900 is now looking at a brand-new one listed at $56,900, both before on-road costs. In states that charge stamp duty as a percentage of the price, the drive-away gap is a little bigger again, because the duty on the lower price is lower too. That's the new-car reference point a used buyer can see. How used prices actually move depends on supply, demand and the car's condition when you sell.
If you've signed but not taken delivery, read what your contract says about price changes, then ask the dealer in writing whether the new list price or a current offer can apply. If you've already taken delivery, you can still ask the dealer or the manufacturer, but none of the offers listed above mention earlier buyers. Our depreciation calculator lets you test your own purchase price and years of ownership.
It's worth noticing that the dealers' own plan, as EV Central reported it, asks manufacturers to compensate dealers when cuts reduce the value of their stock. That's a request about dealer stock, not about cars already sold to private buyers.
Novated Leases: FBT and the LCT Threshold
If you're paying through a novated lease, a price cut can matter for more than the sticker. Under current law, a battery-electric car first held and used from 1 July 2022 is exempt from fringe benefits tax when its value at first retail sale is below the luxury car tax threshold for fuel-efficient cars. For 2026-27 that threshold is $91,661. The standard threshold, for cars that don't meet the fuel-efficient test, is $80,809.
- Audi Q4 e-tron: the 2026 quattro grades list at $97,936 before LCT on Audi's calculator, above the threshold. The 2027 quattro grades, at $81,650 and $83,250, sit under it, as do the new $71,650 rear-drive grades.
- Audi Q6 e-tron: the 2027 base car at $89,900 is under $91,661. The 2027 SQ6 grades, at $129,900 and $134,900, are well over it.
- Mazda CX-60 P50e: it's a plug-in hybrid, and plug-in hybrids stopped qualifying for the EV exemption for new arrangements from 1 April 2025. Mazda's July repricing lowers the price, but it doesn't bring the FBT exemption back.
- Options count. The value test uses the car as first sold, so paint and option packs can push a car that lists just under the threshold over it. Check the figure your lease provider will use.
One more thing to know before you sign a long lease. The 2026-27 Budget (5 May 2026) proposes replacing the full exemption with a 25% FBT discount for electric cars valued over $75,000 from 1 April 2027, and for all eligible electric cars from 1 April 2029. That is a proposal, not law. The ATO says the measure is not yet law, and Treasury consulted on draft legislation in September. Our FBT-exempt cars guide and novated lease guide explain how the exemption works, and the lease calculator lets you run your own salary and term.
FBT and luxury car tax figures current as of 12 November 2026
Thresholds, rebates and rules on this page change each financial year. We check them against the ATO, but always confirm the current position with the relevant authority before you sign.
What to Ask the Dealer
None of these are trick questions. They just get the facts onto paper before you commit.
- "What's the manufacturer's list price for this exact grade today, and does it match the manufacturer's website?"
- "Is the price you're quoting a manufacturer offer, a dealer discount, or both? Can you show me the manufacturer's offer terms?"
- "What's the order deadline and the delivery deadline? What happens if the car arrives after the offer ends?"
- "Which model year is this car, and is a newer version already priced?" (The answer matters for the XPeng G6, the Audis and anything near a model-year change.)
- "Does this offer exclude any other offer, and which one is worth more for how I'm paying: cash, finance or novated lease?"
- "Can you give me a written drive-away figure with every on-road cost itemised for my postcode?"
- For a novated lease: "What value will the lease provider use for the FBT test, including the options I've chosen?"
Our guide to negotiating a new-car price goes through the rest of the process.
What This Means for Buyers
The news about dealer margins is real reporting about the businesses selling you the car. For you, the practical part is narrower: some EVs and plug-in hybrids genuinely cost less on list than they did at the start of the year, and many more are being sold with offers that end before Christmas or on New Year's Eve.
If you're looking at a car on the list price table, today's price is the official one, and a dealer quote should start from it. If you're looking at a car with an offer, write the end date in your diary and make sure the delivery date in your contract sits inside it. If you're on a novated lease, check where the car sits against $91,661 before you look at anything else. And if a cut has just landed on a car you bought, ask, in writing, and keep the answer.
You can line up any of these cars side by side in the compare tool, or start with the smart #3 Pro+ or the XPeng G6 to see the full specification behind the price.
Compare what's on sale now
Head-to-heads with the cars this story is about and their closest rivals on sale now, plus the buying guides that cover them.
- BYD Sealion 7 vs Tesla Model Y
- BYD Sealion 7 vs XPeng G6
- BYD Sealion 7 vs smart #1
- smart #1 vs XPeng G6
- smart #3 vs Tesla Model Y
- Tesla Model Y vs Kia EV5
- Mazda CX-60 vs Subaru Forester
- Mazda CX-60 vs Toyota RAV4
Buying guides
- Best Plug-in Hybrid SUVs in Australia 2026
- 10 Cheapest PHEVs in Australia 2026
- Cheapest Electric Cars in Australia (2026)
- Cheapest Electric Cars Under $25,000 in Australia (2026)
Or pick any two cars on our compare page, or browse the full car directory.
Shopping for a new car now?
The facts, side by side. Your decision.
Disclaimer: Prices and offers are the manufacturers' own, from their Australian websites, configurators and announcements, on the dates given; offers were read on 12 November 2026 and can change or end early. Reporting on dealer profitability is attributed to the publications named and is their reporting, not ours. Tax figures are current law as at 12 November 2026, and the Budget FBT change is a proposal. Nothing here is financial advice or a forecast of resale values. Confirm the price, the offer terms and the tax treatment with the dealer, your lease provider and the ATO before you sign.
