Best new car deals revealed

After years of no discounts, the power balance has swung strongly towards buyers as makers try to move old stock with savings of up to $11,000 on offer.

The tables have turned. Having struggled to meet demand for new vehicles while strangled for supply during the coronavirus crisis, the automotive industry may have more cars than customers.

Motorists with cold feet are cancelling new-car orders as dealers track a drop in inquiries from potential customers.

Tony Weber, chief executive of the Federal Chamber of Automotive Industries, says “supply has really come on stream” but that there are “black clouds on that economic horizon”.

Toyota Australia vice president of marketing and sales Sean Hanley agrees that “cost of living pressures are real”.

“That is definitely putting some pressure on people’s ability to continue with orders they may have placed a year ago,” he says.

Supply of new cars is now running freely for the first time in years. This means the deals are back.

“We had a correction in the market that occurred, so we saw a spike in cancellations in October and November.”

James Ehmann, director of the One SMG motor group that represents more than a dozen brands, says “it won’t be long before the days of long waits on new cars are truly a thing of the past”.

“Manufacturers and dealers are all too aware of the cost-of-living pressures that our households are facing and the effect this is going to continue to have on car sales,” he says. “This is good news for those in the market for either a new or used car in 2024.”

Dealers are cutting prices to clear excess stock. Promotions take various forms, including drive-away prices, cashback offers and incentives such as free servicing or extended warranties.

Deals apply to excess stock of 2023-plate models, not 2024 model year vehicles.

The GWM Ora is now Australia’s cheapest electric car.

Small cars

GWM is leading the charge for electric vehicle discounts with the bug-eyed Ora, now available for about $37,000 drive-away in NSW, a $4000 discount that makes it the cheapest EV in Australia.

Volkswagen’s hatchbacks are on sale, with the Polo priced from $31,990 drive-away (about $2000 off) and the Golf available for $40,990 drive-away (about $3000 off).

Hyundai’s latest i30 sedan is a punchy proposition for $31,990 drive-away, while the Suzuki Ignis is a snip at $22,490 drive-away (about $500 off) before you factor in a $1000 factory bonus.

Jeep is wiping $11,000 off its Grand Cherokee. Picture: Thomas Wielecki

SUVs

Cash-back deals are the name of the game for Jeep, which is giving customers up to $11,000 back on its SUVs. You need to order the range-topping Grand Cherokee Summit Reserve (about $115,000 drive-away) to take home such an enormous bonus. Compact Compass models come with a cheque for $2500.

Haval’s Jolion S is on sale for $33,990 drive-away, while the Skoda Kamiq costs $32,990 (both about $3000 off). Skoda’s deal is particularly attractive as it combines a seven-year warranty with seven years of free servicing and roadside assistance.

Hyundai is offering $2000 factory bonus on its seven-seat Santa Fe.

Honda’s HR-V benefits from a seven-year warranty and an $1800 discount, while Suzuki customers enjoy a $3000 deposit bonus on a new or demo S-Cross or Vitara.

Hyundai’s deals include a $1500 discount on the Tucson or $2000 on the Santa Fe, but be mindful that both models are due for a change this year.

Advertised deals aren’t always amazing. Renault is crowing about a $2000 cashback offer on the Koleos ($39,595 drive-away). But dealers are advertising cars in stock for $36,500 drive-away, leaving you $1000 better off while requiring less cash up front.

Utes

The slow-selling Jeep Gladiator is on sale for $69,950 (a $6000 bonus), while GWM’s Cannon X is cheaper at $41,490 drive-away (about $4000 off).

A new Mitsubishi Triton is just around the corner and the Japanese brand is trying to move the remain stock of the current model.

Mitsubishi is about to replace the Triton ute, so there are strong deals on the superseded model. Well-equipped Triton GLS models with bonus pack including a tow ball and trailer brake controller are $55,490 drive-away, about $10,000 less than the drive-away price of the equivalent new-look model.

Volkswagen has a cracking deal on 2023-plate Amarok machines, including the Amarok Style V6 priced from $72,990 drive-away (about $5000 off). Better still, the deal includes five years of free servicing (worth $1800) and the newly launched Amarok is not due for replacement any time soon.