Price cut makes GWM Ora our cheapest EV

GWM’s latest Ora price reduction to a starting point from $35,990 drive-away comes only a few months after the Chinese automaker carved thousands off the price of its small electric hatch.

In what ostensibly amounts to a “2023 plate clearance”, the cheaper Ora follows a recently announced new price schedule for GWM’s “discounted, drive away” local line-up and means the previously significant differential in price between BEV and ICE powered models is shrinking.

Chronologically, Ora kicked off at launch initially priced from $44,490 drive-away and was first reduced to $39,990 (base model) in July 2023 when GWM Australia announced that recent decreases in battery technology costs had enabled it to pass on savings to its customers.

Then back in January this year, the Ora was further discounted to a budget friendly starting price from $36,583 drive-away, handing it the title of Australian’s cheapest BEV.

Obviously not enough to entice the required level of interest in Ora, that price has now dropped even more to the national drive away price of $35,990, a number that reinforces the model’s cheapest BEV Down Under title.

The revised lower pricing schedule applies across the entire Ora range (see below) with GWM citing “continued favourable exchange rates and supply” to sharpen Ora pricing.

In hard numbers, it means GWM has sliced some $8500 from Ora’s original launch price ($44,490 drive away) that may be good news for new Ora buyers but is potentially bad news for the existing owners who may wear a big reduction in retained value and all that entails.

The scalpel wielding at GWM follows a similar occurrence at competitor Chinese brand MG Motor which “went for the doctor” earlier this week incentivising much of its locally available range, some to the tune of a $6000 price cut.

MG Motor’s wide-ranging reprice offers broad discounts of between $1000 and $6000 on MG3, ZST, HS and HS Plus EV models some plated 2022 build.

Though competitor Chinese brands BYD (and LDV) have largely held fast to date it is possible continuing discounts may fan the flames of a price war between entry-grade EV importers Down Under with BYD, GWM and MG Motor all vying for the title of Australia’s cheapest electric vehicle.

BYD offers its e6 (from $39,999 + ORC) and Dolphin (from $38,890 + ORC) at thousands more than the Ora while MG Motor only last week moved to drive away pricing for its MG 4 and ZS EVs (both from $39,990 drive-away) and again, thousands more than the Ora.

In a statement, GWM Australia said its new price schedule is “Building on the back of growing sales momentum (that) continues GWM’s strategy of offering the best possible value to all customers”.

The company says the new pricing reconfirms GWM’s local commitment to a New Energy Vehicle (NEV) strategy of enhancing its EV and Hybrid powertrain offering in light of current and anticipated demand into the future (read: National Vehicle Emissions Standard).

GWM has five NEV models including Jolion Hybrid, H6 Hybrid, Tank 300 Hybrid and Tank 500 Hybrid available through its extensive network of 95 dealers across Australia with Plug-in Hybrid (PHEV) models under consideration in the near future.

2024 GWM Ora national drive-away pricing: