End of financial year deals on cars return as supply problems ease
The traditional end-of-financial-year deals have returned, thanks to improving vehicle supply and increased competition from Chinese brands.
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The traditional end-of-financial-year sales have finally returned and dealers are slashing thousands of dollars off the price of new cars.
Supply constraints and strong demand since the pandemic have put buyers on the back foot, as dealers haven’t needed to discount to move metal.
But pencils are being sharpened once more as the industry feels the effects of excess stock, a cooling market and weaker demand from buyers struggling with cost-of-living pressures.
Some of the discounts are razor sharp.
Co-founder of pricing website thebeep.com.au, Rob Leigh, says the traditional EOFY deals have kicked off earlier than usual and brands are becoming more flexible on prices.
“[The manufacturers] are not just launching something and letting it run to the end of June … they’re either dialling it up or dialling it down,” he said.
Ultimately, Leigh says, it comes down to an excess of stock.
“Supply is freeing up,” said Leigh. “There are more cars out there. Some have high stock levels and the smart ones want to do something about it.”
He also pointed to the new Chinese brands reshaping the value-focused end of the market.
“Everyone wants a piece of the pie and to do that they’ve got to come to the party.”
There are exceptions, the most notable of which is Toyota. Solid demand and tight supply on many popular models means the market leader is staying firm on prices.
Here are some of the sharper deals. All prices are drive-away.
Mazda CX-5 G20 Maxx
From $36,990, about $4000 off
Mazda has the entry-level version of its mid-sized SUV at $37,990 on its website, but you can shave at least $1000 off by shopping around. It’s basic motoring in an increasingly hybrid/EV era but the basics are done well and there’s a healthy smattering of gear. Step up to the newer CX-60 – which is proving a rare tough sell for Mazda – and discounts are even sharper, at more than $10,000 off.
Hyundai Venue
From $27,490, about $4000 off
Hyundai’s smallest SUV has some sharp deals on the entry-level model, which is powered by a modest 1.6-litre engine but has all the practicality and pizzazz of other variants. It’s better around town than on the open road but is nevertheless a solid entry to affordable motoring. Shop around and you could save an extra $500 with some dealers.
Kia Cerato S
From $28,790, about $3000 off
Most small cars are now more than $30,000, but the most affordable version of the Cerato is thousands cheaper. The cheapest S model misses out on blind-spot and exit warning but otherwise has a long list of active safety gear, as well as an 8-inch touchscreen with Android Auto and wireless Apple CarPlay. A replacement for the Cerato is due soon but that doesn’t detract from what is a sharp deal, especially given the seven-year warranty.
Honda CR-V VTi-X
From $43,900, $600 off plus additional warranty
The entry-level VTi-X version of the CR-V mid-sized SUV is selling at a modest discount but it also comes with an eight-year warranty, which is three years longer than usual. The discount applies to 2023 models, which miss out on the blind-spot warning and rear cross-traffic alert recently added to the range. It’s still great value for one of the most polished in its class. The Hybrid version – our current Car of the Year – is also available with the eight-year warranty, although the $59,900 price is unchanged.
Tesla Model Y Rear-Wheel Drive
From about $58,000 drive-away, up to $4000 off
Tesla has deals on the top-selling Model Y, with up to $4000 off already-discounted 2023 models. There’s the occasional 2024 model kicking around, too, with circa-$2800 discounts. Deals on the mildly updated model – with black wheel covers – are tighter but could save you a few hundred dollars.
LDV D90
From $34,990 drive-away, about $4000 off
With seven seats and a two-tonne tow capacity, the D90 has loads of family appeal, even if its 2.0-litre four-cylinder turbo is thirsty. It’s a basic car to drive, but the D90 delivers on space. The advertised deal is only for ABN holders but private buyers should be able to negotiate the same price or possibly better.
GWM Tank 300 Lux Hybrid
From $52,990, $3000 off
The Tank 300 is proving popular for people who want tough-looking four-wheel-drive without a big price tag. The hybrid model is currently selling for $3000 off, and some dealers are shaving a little more off. Don’t go expecting big fuel savings, though, because the Tank hybrid is more about performance than thriftiness. A proper off-roader, it’s solid in the bush but unwieldy on the road.
Isuzu D-Max SX Crew Cab 1.9-litre auto
From $45,990, about $8000 off
The 1.9-litre engine is only just adequate (it does its best work around town) and its steel wheels lack sparkle, but the D-Max is built for tough work and can lift heavy things. That makes it an attractive workhorse. At $45,990 for run-out MY23 models it’s a tempting deal in a ute market that’s under pressure from budget-priced Chinese alternatives.
Chery Tiggo 7 Pro Urban
From $33,990, about $3000 off
There are plenty of 2023 Tiggos in stock, which has prompted Chery to shave thousands off its mid-sized five-seat SUV. Find the right dealer and you could save another $1000 off the advertised deal. While it’s not as slick to drive as a Toyota or Mazda, it’s well priced for an SUV with dual 12.3-inch screens, a panoramic sunroof and faux-leather trim with heating and power adjustment upfront.
Mercedes-Benz C200 Night Edition
From $89,900, about $5000 off
The C-Class has been edging up in price but the Night Edition adds some value to one of the brand’s top selling vehicles. The special edition has AMG exterior design tweaks and black highlights as well as a quality Burmester sound system. The C-Class already has a long list of standard gear that includes leather-look trim, a 12.3-inch driver display and 11.9-inch centre screen.
Ford E-Transit
From: $84,990 drive-away, about $15,000 off
The electric version of the large, high-roof Transit delivery van initially started at about $115,000 drive-away. Ford has since slashed about $15,000 off the price, then cut prices again with fresh deals in recent weeks. It brings it within about $10,000 of the diesel-powered models. Once you factor in much lower running costs, it becomes an appealing proposition for businesses with access to charging.
Originally published as End of financial year deals on cars return as supply problems ease
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