The prices of new cars in Australia are set to rise in 2024

New cars are getting more expensive but if you know where to look you can still get a good deal on a great new ride. Here are the cars that give you the most bang for your buck.

New car prices have climbed sharply in the past year, pushing many models out of the reach of most buyers.

The price of new hatchbacks, sedans and utes has increased on average by more than $5000, while SUVs prices are up by $2000, according to new research from the Australian Automotive Dealer Association and AutoGrab.

But things are expected to improve in the New Year, as new-car supply improves and sharp run-out deals surface for soon to be replaced models.

Here are some models that give you maximum bang for your back.

SMALL CARS

TOYOTA COROLLA SEDAN

The Toyota Corolla isn’t the cheapest small car but the sedan represents excellent value in the segment.

Prices start at $32,990 drive-away, which is about $500 less than the smaller hatch version.

The sedan also has a much bigger boot, which means you’re getting more space for less money.

Buyers looking to save on their weekly fuel bill choose a hybrid for just $2500 more.

Toyota’s proven reliability, cheap servicing and sky-high resale value make it a smart choice.

KIA CERATO

Kia’s small car offers buyers a cheaper option than the Corolla. The hatchback and sedan both start at $28,290 drive-away for the base S grade.

This Cerato S lacks some crash avoidance technology but you can option a $1500 safety pack to bolster its credentials.

There isn’t much in the way of mod-cons or luxury features but Kia backs its cars with a generous seven-year/unlimited km warranty that gives owners peace of mind for longer.

Kia Cerato.

COMPACT SUVS

MG ZS

The MG ZS is the cheapest small SUV on sale. Priced from $23,990 drive-away, it’s a good looking vehicle with some handy tech such as Apple CarPlay and Android Auto.

MG also backs its cars with a seven-year/unlimited km warranty, which alleviates some of the concern associated with a relatively untested brand.

Don’t expect to get anywhere in a hurry, though. The ZS’s engine looks anaemic compared with more expensive rivals. It is also light on safety features and received a four-star safety rating.

If you can afford it, you’d be better off stretching the budget to the MG ZST, which adds a punchy turbocharged petrol engine and more crash avoidance tech for an extra $3000.

MITSUBISHI ASX

Mitsubishi has a reputation for building no-fuss machines with bulletproof reliability.

The ASX small SUV epitomises this and the current generation has been on sale for more than a decade with a few upgrades along the way.

Prices start well below $30,000 and Mitsubishi offers a 10-year/200,000km conditional warranty, which requires owners to service their vehicles at a Mitsubishi dealership for the length of the warranty. If you service with Mitsubishi, there is also 10 years of capped price servicing and four years of roadside assistance.

SKODA KAMIQ

If you are after a sharp driving European small SUV then the Skoda Kamiq Run-Out priced at $32,990 drive-away could be for you.

It’s more expensive than budget focused machines but it brings European engineering, an efficient and powerful turbo petrol engine and a seven year warranty.

2020 MG ZST

FAMILY SUVs

MITSUBISHI OUTLANDER

The Outlander mid-size SUV is the newest vehicle in the Mitsubishi line-up. It is packed with hi-tech features and safety equipment, has seating for seven and Mitsubishi’s generous 10-year warranty.

Prices start at $41,930 drive-away, which is significantly less than rival machines from big name brands.

HAVAL H6 HYBRID

The Haval H6 is one of the cheapest family sized SUVs with hybrid power.

Prices start at $42,490 drive-away, which is about $4000 cheaper than the most affordable Toyota RAV4 Hybrid and about $17,000 less than the Honda CR-V Hybrid.

Unlike the RAV4 Hybrid there isn’t an 18-month wait list and there are regular deals to be had.

The H6 has tech and standard features that others can’t match for the price. It isn’t as polished to drive and its safety aids need better calibration, but the price is enticing.

Mitsubishi Outlande

UTES

MITSUBISHI TRITON

Mitsubishi is preparing to launch an all-new Triton early in 2024, which means it is likely to offer some sharp run-out deals on the older version to help clear stock. Prices start at $44,240 drive-away and Mitsubishi is throwing in a free towing pack valued at $2000 on top-spec GLS and GSR variants.

The current model is long in the tooth and lacks the polish and mod-cons of the class-leading Toyota HiLux and Ford Ranger, but it’s bulletproof with a long warranty,

The Triton makes less power than its rivals and its towing capacity is only 3000kg, but it is a solid performer at the right price.

GWM UTE

GWM – formerly known as Great Wall Motors – has one of the best value dual-cab utes on the market.

Known simply as Ute, the workhorse undercuts rivals by thousands of dollars, with a starting price of $33,990 drive-away.

It comes with a seven-year warranty and GWM often offers sharp deals for ABN holders.

As with the Mitsubishi, it’s down on power and can only tow 3000kg but it can carry more than a tonne in the tray.

GWM Cannon ute.

ELECTRIC CARS

BYD DOLPHIN AND SEAL

BYD is closing the price gap between petrol and electric cars.

The Dolphin is Australia’s cheapest EV at about $40,000 drive-away. It is packed with safety and hi-tech features that more expensive machines lack.

The bigger Tesla Model 3 rivalling Seal sedan is even sharper value.

Prices for the three tier range start at $51,000 drive-away for the Seal Dynamic, which is about $14,000 cheaper than the base Model 3.

There is no vehicle on sale that can match the luxury fit out for the money, either.

Driving range is excellent. The Long Range version is able to travel up to 570km on a single charge.

If you can lease the Seal through work, you will qualify for Fringe Benefits Tax exemptions that make it competitive with petrol cars.

BYD has a six-year/150,000km warranty and capped priced servicing is reasonably priced.

MG4

This is Australia’s second cheapest electric car. Prices start at about $41,000 for the base version with a driving range of up to 350km. Bigger battery versions cost about $6000 more and boost the range to 450km. Add another $10,000 to be able to travel up to 530km. It’s a hoot to drive with sharp acceleration off the mark and impressive cornering ability.

Mitsubishi Triton GSR

Originally published as The prices of new cars in Australia are set to rise in 2024