MG's new premium EVs may not be MGs for long
Established over four years ago as a joint venture between SAIC Motor and the Alibaba Group, with the latter providing much of the software, IM Motors sits above MG, LDV/Maxus and Roewe in the SAIC Motor empire.
But in Australia, the brand is being launched as more of a sub-brand, officially titled IM Presented by MG Motor. The two IM vehicles are being sold as the MG IM5 and MG IM6, and even feature an MG Motor badge on their tailgates.
Selling them in MG showrooms – where they won't be the only premium product anyway, following the launch of the Cyberster – allows the company to bring them in at a more tempting price.
CarExpert can save you thousands on a new car. Click here to get a great deal. Supplied Credit: CarExpert
'From my point of view, every coin has two sides. If we want to build the brand independently, we have a calculation – maybe each car, we'll add extra, maybe 10 to 15,000 AUD for the car because you need to build the showroom, you need to hire the sales consultants, you need to build the stock, all the things,' said Xu Chenyang, IM Motors Area General Manager for Australia.
By leveraging MG's existing dealer network, then, the company can bring vehicles to market at a more affordable price.
'From my point of view, it's the best choice for the customer,' said Mr Xu.
But that doesn't meet IM vehicles will be sold in MG showrooms forever. There's already talk of separating the brand. Supplied Credit: CarExpert
'IM in Australia, and [MG Motor Australia CEO Peter Ciao] wants for the future, is a separate brand. Just in the very beginning, we're in the same showroom, with the sales volume for a while. He's willing to separate into two networks,' said Mr Xu, stopping short of confirming the specific sales targets the IM5 and IM6 need to meet for this to happen.
'It's just like the very beginning [of] Lexus and Toyota, sometimes they are also in the same showroom, but when the sales volumes [went up] they separated.'
Another comparison can be drawn, this time with Hyundai's Genesis brand. Initially, Hyundai sold a vehicle called the Genesis, before it established Genesis as a standalone brand; that Hyundai Genesis sedan subsequently became the Genesis G80.
Mr Xu said in China, where IM has a separate dealer network, its biggest competitors are Tesla and Zeekr. Supplied Credit: CarExpert
But while Tesla is reaching further downmarket, IM doesn't plan to encroach on the territory of other SAIC Motor brands.
'In China, IM normally sells above 200,000 RMB [A$43,000]. MG is around 100,000 RMB [A$21,500],' said Mr Xu.
In addition to the mid-size IM5 liftback and IM6 SUV – sold there as the L6 and LS6 – IM Motors has the larger L7 sedan and LS7 SUV in China.
These will be joined later this year by the LS9, the brand's largest SUV yet and its first extended-range electric vehicle (EREV) with a petrol engine used as a generator.
The LS6 is also receiving a facelift and gaining an EREV powertrain.
'In the end of this year, we'll release the LS9 and new LS6. These are also above 200,000 RMB. So we don't have the plan to lower the brand positioning right now, because the SAIC group has got all the other brands,' said Mr Xu. Supplied Credit: CarExpert Supplied Credit: CarExpert
ABOVE: IM LS9, facelifted LS6
'IM's positioning is above 200,000 RMB for our group's strategy.'
Could we see some of these other models in local showrooms?
'We already launched some new models, but it depends on the CEO for MG, because once you import one car, you pay a lot for homologation and for ANCAP and for the modifications for right-hand drive. So it depends on Peter's decision whether he wants to import more IMs to this market,' said Mr Xu.
He said he believed EREVs would be suitable for Australia, but these new vehicles haven't been signed off for Australia.
Both the IM5 and IM6 start at $60,990 drive-away. The smaller Tesla Model 3 and Model Y, in contrast, start at $54,900 and $58,900 before on-road costs.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Advertiser
15 hours ago
- The Advertiser
Honda won't follow BYD, MG in bringing a luxury brand to Australia
Honda won't bring in its premium Acura brand offered overseas to target a growing number of premium-pitched Chinese arrivals such as BYD's Denza and MG's IM Motors in Australia. Acura was established in 1986, three years before Toyota introduced Lexus and Nissan introduced Infiniti. It also preceded Mazda's Eunos, Efini, and aborted Amati brands. While Lexus remains on sale, Acura has never came to Australia. That's despite Infiniti being offered between 2012 and 2020 and Eunos being launched as a standalone brand here in 1992 before being folded into Mazda in 1996. Hyundai has since launched Genesis as a Lexus rival, but now Chinese car companies are getting in on the act with luxury brands of their own, including BYD's Denza due in Australia by the end of 2025. CarExpert can save you thousands on a new car. Click here to get a great deal. Above: Acura Integra MG has also just launched premium vehicles, officially under the 'IM Presented by MG Motor' banner but sold within MG showrooms. The growth of premium brands hasn't prompted new Honda Australia CEO Jay Joseph, who took the reins in April 2025, to add Acura to that list. "[Bringing Acura] here would require substantial commitment of resources in developing a brand – you've got to have brand awareness before people shop," Mr Joseph told CarExpert. "Candidly, I think our priority should be on expanding the potential of Honda and making sure that we've done everything we can with the Honda brand before we would consider taking on an additional brand here in Australia." Above: First and second generations of Acura/Honda NSX The Acura name was applied to some key Honda models in the past, including the second-generation NSX – which was also manufactured in the US – and models such as the Integra sports car and Legend. All of these vehicles have been sold under the Honda name in Australia and other places, such as the United Kingdom (UK), but with Acura badges in North America. Likewise, Acura's MDX was sold here during its first generation as a Honda. Subsequent North American-built Acuras have been produced only in left-hand drive however, ruling them out for our market."Acura has been in other markets over time – of course the States – and Acura is pretty solid in Canada as well," Mr Joseph added. "We have had Acura in China for a time, but that didn't work as we hoped it would – China is difficult because many of those products had to be imported from North America, and that's a challenge." Acura launched its first electric vehicle (EV), the ZDX, in 2024. It shares a platform with General Motors vehicles such as the Cadillac Lyriq sold here. Above (clockwise from left):ADX, RDX, MDX, ZDX The lineup otherwise consists of a trio of petrol-powered crossover SUVs, as well as the Honda Civic-based Integra liftback. Acura recently swung the axe on its BMW 3 Series-rivalling TLX sedan. Following Japanese and Korean automakers' introductions of luxury brands, it's now Chinese brands getting into this space. BYD has Denza and Yangwang in China, while Geely has Zeekr in addition to foreign premium brands it has acquired like Volvo and GWM is planning an even more upscale brand to sit above its Wey marque. Chinese brands surged in Australia over the first half of 2025, with BYD becoming the first to break into the top five best sellers in June, with Denza expected to add to its growth when it launches later this year. Lexus, meanwhile, was 21st overall between January and June, trailing key rivals BMW and Mercedes-Benz but ahead of Audi and Volvo. Honda is on track for its best full-year result since 2021 (17,562) if it can match its 8068 sales to the end of June, which equates to 16,136. Content originally sourced from: Honda won't bring in its premium Acura brand offered overseas to target a growing number of premium-pitched Chinese arrivals such as BYD's Denza and MG's IM Motors in Australia. Acura was established in 1986, three years before Toyota introduced Lexus and Nissan introduced Infiniti. It also preceded Mazda's Eunos, Efini, and aborted Amati brands. While Lexus remains on sale, Acura has never came to Australia. That's despite Infiniti being offered between 2012 and 2020 and Eunos being launched as a standalone brand here in 1992 before being folded into Mazda in 1996. Hyundai has since launched Genesis as a Lexus rival, but now Chinese car companies are getting in on the act with luxury brands of their own, including BYD's Denza due in Australia by the end of 2025. CarExpert can save you thousands on a new car. Click here to get a great deal. Above: Acura Integra MG has also just launched premium vehicles, officially under the 'IM Presented by MG Motor' banner but sold within MG showrooms. The growth of premium brands hasn't prompted new Honda Australia CEO Jay Joseph, who took the reins in April 2025, to add Acura to that list. "[Bringing Acura] here would require substantial commitment of resources in developing a brand – you've got to have brand awareness before people shop," Mr Joseph told CarExpert. "Candidly, I think our priority should be on expanding the potential of Honda and making sure that we've done everything we can with the Honda brand before we would consider taking on an additional brand here in Australia." Above: First and second generations of Acura/Honda NSX The Acura name was applied to some key Honda models in the past, including the second-generation NSX – which was also manufactured in the US – and models such as the Integra sports car and Legend. All of these vehicles have been sold under the Honda name in Australia and other places, such as the United Kingdom (UK), but with Acura badges in North America. Likewise, Acura's MDX was sold here during its first generation as a Honda. Subsequent North American-built Acuras have been produced only in left-hand drive however, ruling them out for our market."Acura has been in other markets over time – of course the States – and Acura is pretty solid in Canada as well," Mr Joseph added. "We have had Acura in China for a time, but that didn't work as we hoped it would – China is difficult because many of those products had to be imported from North America, and that's a challenge." Acura launched its first electric vehicle (EV), the ZDX, in 2024. It shares a platform with General Motors vehicles such as the Cadillac Lyriq sold here. Above (clockwise from left):ADX, RDX, MDX, ZDX The lineup otherwise consists of a trio of petrol-powered crossover SUVs, as well as the Honda Civic-based Integra liftback. Acura recently swung the axe on its BMW 3 Series-rivalling TLX sedan. Following Japanese and Korean automakers' introductions of luxury brands, it's now Chinese brands getting into this space. BYD has Denza and Yangwang in China, while Geely has Zeekr in addition to foreign premium brands it has acquired like Volvo and GWM is planning an even more upscale brand to sit above its Wey marque. Chinese brands surged in Australia over the first half of 2025, with BYD becoming the first to break into the top five best sellers in June, with Denza expected to add to its growth when it launches later this year. Lexus, meanwhile, was 21st overall between January and June, trailing key rivals BMW and Mercedes-Benz but ahead of Audi and Volvo. Honda is on track for its best full-year result since 2021 (17,562) if it can match its 8068 sales to the end of June, which equates to 16,136. Content originally sourced from: Honda won't bring in its premium Acura brand offered overseas to target a growing number of premium-pitched Chinese arrivals such as BYD's Denza and MG's IM Motors in Australia. Acura was established in 1986, three years before Toyota introduced Lexus and Nissan introduced Infiniti. It also preceded Mazda's Eunos, Efini, and aborted Amati brands. While Lexus remains on sale, Acura has never came to Australia. That's despite Infiniti being offered between 2012 and 2020 and Eunos being launched as a standalone brand here in 1992 before being folded into Mazda in 1996. Hyundai has since launched Genesis as a Lexus rival, but now Chinese car companies are getting in on the act with luxury brands of their own, including BYD's Denza due in Australia by the end of 2025. CarExpert can save you thousands on a new car. Click here to get a great deal. Above: Acura Integra MG has also just launched premium vehicles, officially under the 'IM Presented by MG Motor' banner but sold within MG showrooms. The growth of premium brands hasn't prompted new Honda Australia CEO Jay Joseph, who took the reins in April 2025, to add Acura to that list. "[Bringing Acura] here would require substantial commitment of resources in developing a brand – you've got to have brand awareness before people shop," Mr Joseph told CarExpert. "Candidly, I think our priority should be on expanding the potential of Honda and making sure that we've done everything we can with the Honda brand before we would consider taking on an additional brand here in Australia." Above: First and second generations of Acura/Honda NSX The Acura name was applied to some key Honda models in the past, including the second-generation NSX – which was also manufactured in the US – and models such as the Integra sports car and Legend. All of these vehicles have been sold under the Honda name in Australia and other places, such as the United Kingdom (UK), but with Acura badges in North America. Likewise, Acura's MDX was sold here during its first generation as a Honda. Subsequent North American-built Acuras have been produced only in left-hand drive however, ruling them out for our market."Acura has been in other markets over time – of course the States – and Acura is pretty solid in Canada as well," Mr Joseph added. "We have had Acura in China for a time, but that didn't work as we hoped it would – China is difficult because many of those products had to be imported from North America, and that's a challenge." Acura launched its first electric vehicle (EV), the ZDX, in 2024. It shares a platform with General Motors vehicles such as the Cadillac Lyriq sold here. Above (clockwise from left):ADX, RDX, MDX, ZDX The lineup otherwise consists of a trio of petrol-powered crossover SUVs, as well as the Honda Civic-based Integra liftback. Acura recently swung the axe on its BMW 3 Series-rivalling TLX sedan. Following Japanese and Korean automakers' introductions of luxury brands, it's now Chinese brands getting into this space. BYD has Denza and Yangwang in China, while Geely has Zeekr in addition to foreign premium brands it has acquired like Volvo and GWM is planning an even more upscale brand to sit above its Wey marque. Chinese brands surged in Australia over the first half of 2025, with BYD becoming the first to break into the top five best sellers in June, with Denza expected to add to its growth when it launches later this year. Lexus, meanwhile, was 21st overall between January and June, trailing key rivals BMW and Mercedes-Benz but ahead of Audi and Volvo. Honda is on track for its best full-year result since 2021 (17,562) if it can match its 8068 sales to the end of June, which equates to 16,136. Content originally sourced from: Honda won't bring in its premium Acura brand offered overseas to target a growing number of premium-pitched Chinese arrivals such as BYD's Denza and MG's IM Motors in Australia. Acura was established in 1986, three years before Toyota introduced Lexus and Nissan introduced Infiniti. It also preceded Mazda's Eunos, Efini, and aborted Amati brands. While Lexus remains on sale, Acura has never came to Australia. That's despite Infiniti being offered between 2012 and 2020 and Eunos being launched as a standalone brand here in 1992 before being folded into Mazda in 1996. Hyundai has since launched Genesis as a Lexus rival, but now Chinese car companies are getting in on the act with luxury brands of their own, including BYD's Denza due in Australia by the end of 2025. CarExpert can save you thousands on a new car. Click here to get a great deal. Above: Acura Integra MG has also just launched premium vehicles, officially under the 'IM Presented by MG Motor' banner but sold within MG showrooms. The growth of premium brands hasn't prompted new Honda Australia CEO Jay Joseph, who took the reins in April 2025, to add Acura to that list. "[Bringing Acura] here would require substantial commitment of resources in developing a brand – you've got to have brand awareness before people shop," Mr Joseph told CarExpert. "Candidly, I think our priority should be on expanding the potential of Honda and making sure that we've done everything we can with the Honda brand before we would consider taking on an additional brand here in Australia." Above: First and second generations of Acura/Honda NSX The Acura name was applied to some key Honda models in the past, including the second-generation NSX – which was also manufactured in the US – and models such as the Integra sports car and Legend. All of these vehicles have been sold under the Honda name in Australia and other places, such as the United Kingdom (UK), but with Acura badges in North America. Likewise, Acura's MDX was sold here during its first generation as a Honda. Subsequent North American-built Acuras have been produced only in left-hand drive however, ruling them out for our market."Acura has been in other markets over time – of course the States – and Acura is pretty solid in Canada as well," Mr Joseph added. "We have had Acura in China for a time, but that didn't work as we hoped it would – China is difficult because many of those products had to be imported from North America, and that's a challenge." Acura launched its first electric vehicle (EV), the ZDX, in 2024. It shares a platform with General Motors vehicles such as the Cadillac Lyriq sold here. Above (clockwise from left):ADX, RDX, MDX, ZDX The lineup otherwise consists of a trio of petrol-powered crossover SUVs, as well as the Honda Civic-based Integra liftback. Acura recently swung the axe on its BMW 3 Series-rivalling TLX sedan. Following Japanese and Korean automakers' introductions of luxury brands, it's now Chinese brands getting into this space. BYD has Denza and Yangwang in China, while Geely has Zeekr in addition to foreign premium brands it has acquired like Volvo and GWM is planning an even more upscale brand to sit above its Wey marque. Chinese brands surged in Australia over the first half of 2025, with BYD becoming the first to break into the top five best sellers in June, with Denza expected to add to its growth when it launches later this year. Lexus, meanwhile, was 21st overall between January and June, trailing key rivals BMW and Mercedes-Benz but ahead of Audi and Volvo. Honda is on track for its best full-year result since 2021 (17,562) if it can match its 8068 sales to the end of June, which equates to 16,136. Content originally sourced from:
The Advertiser
15 hours ago
- The Advertiser
Hyundai won't sell cheap EVs to compete with Chinese brands
Hyundai won't be drawn into an electric vehicle (EV) price war in Australia. The Korean manufacturer currently offers six electric models in Australia – the Inster, Ioniq 9, Kona Electric, Ioniq 6, Ioniq 5, and Ioniq 5 N – the cheapest of which (Inster) starts at $39,000 before on-road costs. At the other end of the spectrum, the new Ioniq 9 is the most expensive Hyundai ever sold in Australia, with a retail price of $119,750 plus on-roads. Chinese automakers currently have the upper hand when it comes to EV pricing – BYD, GWM, Chery and MG all boast electric models cheaper than the Inster, and the same comparisons can be made across other vehicle segments. Hyundai ranked seventh for EV sales (2689 total) in Australia last year, sitting behind Tesla, BYD, MG, BMW, Volvo, and sister brand Kia. CarExpert can save you thousands on a new car. Click here to get a great deal. Above: Inster However, Hyundai won't slash prices or introduce cheaper EVs to win over new car buyers, according to local boss Don Romano. "I don't think any change in our pricing competitiveness is something that is a long-term issue," Mr Romano told media including CarExpert at the launch of the Ioniq 9. "When you look at Chinese EVs, the question I'd have is how long can they sustain that low price when we're all using the same materials and the same equipment?" Instead, Hyundai's next move will be to shift upmarket, as evidenced by the introduction of the Ioniq 9. While brand representatives stressed that there's no premium push on the horizon, Mr Romano says Hyundai needs to aim higher going forward. "I think if we don't start moving upmarket, that's the risk. I think there's a number of manufacturers that are not taking that type of bold step, and they're going to regret it in the future," said Mr Romano. Above: Ioniq 9 "You can't stay in one place, you have to evolve, and I think this is part of our evolution. "There's always going to be someone that's cheaper, that can build a car for less money somewhere. And if you look through the rear-view mirror, you're going to see them there. I'd prefer to look through the windshield and go forward." Cox Automotive Australia has forecast Chinese imports will account for a 20 per cent stake in the Aussie auto market this year, up three per cent from last year. Behind Tesla, BYD and MG sold the most EVs in Australia last year, accounting for 22,499 deliveries. GWM also featured in the top 10 brands for total EV sales, though unlike its Chinese rivals it has just one EV in Australia. MORE: Explore the Hyundai showroom Content originally sourced from: Hyundai won't be drawn into an electric vehicle (EV) price war in Australia. The Korean manufacturer currently offers six electric models in Australia – the Inster, Ioniq 9, Kona Electric, Ioniq 6, Ioniq 5, and Ioniq 5 N – the cheapest of which (Inster) starts at $39,000 before on-road costs. At the other end of the spectrum, the new Ioniq 9 is the most expensive Hyundai ever sold in Australia, with a retail price of $119,750 plus on-roads. Chinese automakers currently have the upper hand when it comes to EV pricing – BYD, GWM, Chery and MG all boast electric models cheaper than the Inster, and the same comparisons can be made across other vehicle segments. Hyundai ranked seventh for EV sales (2689 total) in Australia last year, sitting behind Tesla, BYD, MG, BMW, Volvo, and sister brand Kia. CarExpert can save you thousands on a new car. Click here to get a great deal. Above: Inster However, Hyundai won't slash prices or introduce cheaper EVs to win over new car buyers, according to local boss Don Romano. "I don't think any change in our pricing competitiveness is something that is a long-term issue," Mr Romano told media including CarExpert at the launch of the Ioniq 9. "When you look at Chinese EVs, the question I'd have is how long can they sustain that low price when we're all using the same materials and the same equipment?" Instead, Hyundai's next move will be to shift upmarket, as evidenced by the introduction of the Ioniq 9. While brand representatives stressed that there's no premium push on the horizon, Mr Romano says Hyundai needs to aim higher going forward. "I think if we don't start moving upmarket, that's the risk. I think there's a number of manufacturers that are not taking that type of bold step, and they're going to regret it in the future," said Mr Romano. Above: Ioniq 9 "You can't stay in one place, you have to evolve, and I think this is part of our evolution. "There's always going to be someone that's cheaper, that can build a car for less money somewhere. And if you look through the rear-view mirror, you're going to see them there. I'd prefer to look through the windshield and go forward." Cox Automotive Australia has forecast Chinese imports will account for a 20 per cent stake in the Aussie auto market this year, up three per cent from last year. Behind Tesla, BYD and MG sold the most EVs in Australia last year, accounting for 22,499 deliveries. GWM also featured in the top 10 brands for total EV sales, though unlike its Chinese rivals it has just one EV in Australia. MORE: Explore the Hyundai showroom Content originally sourced from: Hyundai won't be drawn into an electric vehicle (EV) price war in Australia. The Korean manufacturer currently offers six electric models in Australia – the Inster, Ioniq 9, Kona Electric, Ioniq 6, Ioniq 5, and Ioniq 5 N – the cheapest of which (Inster) starts at $39,000 before on-road costs. At the other end of the spectrum, the new Ioniq 9 is the most expensive Hyundai ever sold in Australia, with a retail price of $119,750 plus on-roads. Chinese automakers currently have the upper hand when it comes to EV pricing – BYD, GWM, Chery and MG all boast electric models cheaper than the Inster, and the same comparisons can be made across other vehicle segments. Hyundai ranked seventh for EV sales (2689 total) in Australia last year, sitting behind Tesla, BYD, MG, BMW, Volvo, and sister brand Kia. CarExpert can save you thousands on a new car. Click here to get a great deal. Above: Inster However, Hyundai won't slash prices or introduce cheaper EVs to win over new car buyers, according to local boss Don Romano. "I don't think any change in our pricing competitiveness is something that is a long-term issue," Mr Romano told media including CarExpert at the launch of the Ioniq 9. "When you look at Chinese EVs, the question I'd have is how long can they sustain that low price when we're all using the same materials and the same equipment?" Instead, Hyundai's next move will be to shift upmarket, as evidenced by the introduction of the Ioniq 9. While brand representatives stressed that there's no premium push on the horizon, Mr Romano says Hyundai needs to aim higher going forward. "I think if we don't start moving upmarket, that's the risk. I think there's a number of manufacturers that are not taking that type of bold step, and they're going to regret it in the future," said Mr Romano. Above: Ioniq 9 "You can't stay in one place, you have to evolve, and I think this is part of our evolution. "There's always going to be someone that's cheaper, that can build a car for less money somewhere. And if you look through the rear-view mirror, you're going to see them there. I'd prefer to look through the windshield and go forward." Cox Automotive Australia has forecast Chinese imports will account for a 20 per cent stake in the Aussie auto market this year, up three per cent from last year. Behind Tesla, BYD and MG sold the most EVs in Australia last year, accounting for 22,499 deliveries. GWM also featured in the top 10 brands for total EV sales, though unlike its Chinese rivals it has just one EV in Australia. MORE: Explore the Hyundai showroom Content originally sourced from: Hyundai won't be drawn into an electric vehicle (EV) price war in Australia. The Korean manufacturer currently offers six electric models in Australia – the Inster, Ioniq 9, Kona Electric, Ioniq 6, Ioniq 5, and Ioniq 5 N – the cheapest of which (Inster) starts at $39,000 before on-road costs. At the other end of the spectrum, the new Ioniq 9 is the most expensive Hyundai ever sold in Australia, with a retail price of $119,750 plus on-roads. Chinese automakers currently have the upper hand when it comes to EV pricing – BYD, GWM, Chery and MG all boast electric models cheaper than the Inster, and the same comparisons can be made across other vehicle segments. Hyundai ranked seventh for EV sales (2689 total) in Australia last year, sitting behind Tesla, BYD, MG, BMW, Volvo, and sister brand Kia. CarExpert can save you thousands on a new car. Click here to get a great deal. Above: Inster However, Hyundai won't slash prices or introduce cheaper EVs to win over new car buyers, according to local boss Don Romano. "I don't think any change in our pricing competitiveness is something that is a long-term issue," Mr Romano told media including CarExpert at the launch of the Ioniq 9. "When you look at Chinese EVs, the question I'd have is how long can they sustain that low price when we're all using the same materials and the same equipment?" Instead, Hyundai's next move will be to shift upmarket, as evidenced by the introduction of the Ioniq 9. While brand representatives stressed that there's no premium push on the horizon, Mr Romano says Hyundai needs to aim higher going forward. "I think if we don't start moving upmarket, that's the risk. I think there's a number of manufacturers that are not taking that type of bold step, and they're going to regret it in the future," said Mr Romano. Above: Ioniq 9 "You can't stay in one place, you have to evolve, and I think this is part of our evolution. "There's always going to be someone that's cheaper, that can build a car for less money somewhere. And if you look through the rear-view mirror, you're going to see them there. I'd prefer to look through the windshield and go forward." Cox Automotive Australia has forecast Chinese imports will account for a 20 per cent stake in the Aussie auto market this year, up three per cent from last year. Behind Tesla, BYD and MG sold the most EVs in Australia last year, accounting for 22,499 deliveries. GWM also featured in the top 10 brands for total EV sales, though unlike its Chinese rivals it has just one EV in Australia. MORE: Explore the Hyundai showroom Content originally sourced from:
7NEWS
17 hours ago
- 7NEWS
Hyundai won't sell cheap EVs to compete with Chinese brands
Hyundai won't be drawn into an electric vehicle (EV) price war in Australia. The Korean manufacturer currently offers six electric models in Australia – the Inster, Ioniq 9, Kona Electric, Ioniq 6, Ioniq 5, and Ioniq 5 N – the cheapest of which (Inster) starts at $39,000 before on-road costs. At the other end of the spectrum, the new Ioniq 9 is the most expensive Hyundai ever sold in Australia, with a retail price of $119,750 plus on-roads. Chinese automakers currently have the upper hand when it comes to EV pricing – BYD, GWM, Chery and MG all boast electric models cheaper than the Inster, and the same comparisons can be made across other vehicle segments. Hyundai ranked seventh for EV sales (2689 total) in Australia last year, sitting behind Tesla, BYD, MG, BMW, Volvo, and sister brand Kia. CarExpert can save you thousands on a new car. Click here to get a great deal. Above: Inster However, Hyundai won't slash prices or introduce cheaper EVs to win over new car buyers, according to local boss Don Romano. 'I don't think any change in our pricing competitiveness is something that is a long-term issue,' Mr Romano told media including CarExpert at the launch of the Ioniq 9. 'When you look at Chinese EVs, the question I'd have is how long can they sustain that low price when we're all using the same materials and the same equipment?' Instead, Hyundai's next move will be to shift upmarket, as evidenced by the introduction of the Ioniq 9. While brand representatives stressed that there's no premium push on the horizon, Mr Romano says Hyundai needs to aim higher going forward. 'I think if we don't start moving upmarket, that's the risk. I think there's a number of manufacturers that are not taking that type of bold step, and they're going to regret it in the future,' said Mr Romano. Above: Ioniq 9 'You can't stay in one place, you have to evolve, and I think this is part of our evolution. 'There's always going to be someone that's cheaper, that can build a car for less money somewhere. And if you look through the rear-view mirror, you're going to see them there. I'd prefer to look through the windshield and go forward.' Cox Automotive Australia has forecast Chinese imports will account for a 20 per cent stake in the Aussie auto market this year, up three per cent from last year. Behind Tesla, BYD and MG sold the most EVs in Australia last year, accounting for 22,499 deliveries. GWM also featured in the top 10 brands for total EV sales, though unlike its Chinese rivals it has just one EV in Australia.
