EV sales plunge forces Porsche, Fiat to slash prices across Australia

A global car brand fighting for buyers in Australia has taken an extraordinary step it has never considered before.

Car companies have slashed thousands of dollars from the prices of electric vehicles, with widespread discounts as buyers hit the brakes on electric vehicle sales.

Electric vehicle sales in Australia are down 6 per cent compared to 2024 in the first six months of this year – and that’s despite more EV options being available to customers than ever before.

And we aren’t just talking about the cutthroat Chinese brands reducing costs to compete – there are some surprising discounts to be had.

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Porsche’s Macan phases out petrol power in a bold EV move. Picture: Supplied

The Porsche Macan is the most surprising offer on the table.

Industry veteran Paul Gover posted on LinkedIn: “Through all my many years in motoring I had never seen a discount on anything new from Porsche Cars Australia. Until today.

“Do Macan owners and shoppers want a Macan EV? The sales results say ‘not yet’.”

The German sports car specialist rarely offers deals.

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Macan EV shoppers get a “$5000 Trade-In Bonus” on all cars, plus a “Deposit Contribution” for the new plug-in Porker ($3000 on the Macan, Macan 4; $4000 on Macan S; $5000 on Macan Turbo).

Deals vary from showroom to showroom. Some are further sweetening the deal with a five-year factory warranty and five years roadside assistance at no cost.

Another European brand doing discounts is Fiat.

Fiat’s 500e Abarth Scorpionissima. Photo: Supplied

The pint-sized Fiat 500e is now being offered at a more fitting price of $38,990 drive-away – some $16,000 off the existing price ($52,500 plus on-roads). And the hotter pop-and-crackle Abarth 500e is now $43,990 drive-away, about $18,000 less than the original price with on-roads included.

Fiat – part of the Stellantis Group – isn’t the only marque in the stable to be chopping it up. Jeep is still doing $40,000 drive-away deals on the Avenger electric small SUV, which is the country’s cheapest vehicle of its type. And there are even better prices on in-stock models with low kilometres, as low as $34,990 drive-away for a car with 2000km on the clock.

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2024 Chery Omoda E5. Photo: Supplied

There are also budget bargains to be had from China, too, with the outgoing Chery Omoda E5 being offered with up to $6000 off retail. The 430km-EV-range small SUV starts at $40,300 drive-away, and includes a free home charger – and it’s one of the only EVs on the market with a full-size spare wheel.

Cox Automotive analyst Mike Costello says the raging retail offers point to potentially bigger concerns in the industry.

“Discounts or incentives tell us there are still challenges to overcome in terms of increasing consumer demand, although there are plenty of signs that consumers will consider an EV if the price and performance is right for them.

“Over the next few years carmakers are expected to increase the number of EVs they offer to meet government efficiency targets, so there’s every change that great deals will become a common sight,” he said.

And while it isn’t a full EV, Mercedes-Benz has even repositioned the mild-hybrid C43 AMG sedan to be almost $20,000 cheaper than before, too.

Originally published as EV sales plunge forces Porsche, Fiat to slash prices across Australia