New 2024 MG3 prices cut two weeks after launch

The new 2024 MG3 can now be bought for $1300 less than previously announced, following the release of national drive-away pricing for entry-level petrol versions of the all-new light hatch.

The base MG3 Excite now starts from $24,990 drive-away, while the higher-spec Essence starts from $26,990 drive-away – as opposed to their previous respective list prices of $23,990 and $24,990 (plus on-road costs), which were announced at the new MG3’s launch just two weeks ago on June 12.

But while buyers of the new MG3 who have already taken delivery will be “eligible for a rebate”, there’s no drive-away pricing (yet) for the pricier hybrid variants, which for now hold firm at $27,990 and $29,990 plus ORCs for the Excite and Essence respectively.

MG Motor Australia national sales manager Brad Chruszcz said the petrol MG3’s “strategic price adjustment” ensures customers around the country can purchase the Chinese brand’s new range-opener for the same segment-leading price and not be subject to varying on-road costs.

“We want people to experience the all-new petrol MG3 and this provides an additional incentive to do it,” he said.

“We want them to be empowered to have the freedom to drive an affordable hatch, which is why we dropped the price to $24,990 drive-away on the all-new MG3 before most customer deliveries take place.

“If a customer has already taken delivery, they will be eligible for a rebate taking into consideration the reduced price.”

The pricing adjustment means the petrol MG3 has strengthened it position as the cheapest vehicle in its segment when compared like-for-like, particularly against the new-generation Suzuki Swift.

The all-new mild-hybrid Suzuki actually undercuts the MG3 by $500 at the bottom of the range, however, an important distinction is that its opening $24,490 drive-away price refers to the manual (the base Swift automatic starts from $26,990 drive-away), whereas the MG3 is an all-auto affair.

However, neither of these new light-size hatchbacks get close to the Kia Picanto, which comfortably retains its crown as Australia’s cheapest new vehicle with a starting price of $17,890 plus ORCs, making it Australia’s only new vehicle priced from under $20,000.

That said, stocks of the ‘old’ MG3 (ie: MY22 versions of a model that dates back to 2010 in China), will continue to be available for the rest of this year, priced from just $18,990 drive-away, which will ensure the MG3 remains Australia’s most popular light car for a while yet.

“Nowadays it’s slim-pickings if you want to purchase a brand-new car on a used-car budget but our run-out MG3 (MY22) is currently priced at $18,990 drive-away and we’ve got enough supply to take us to December 2024,” said Chruszcz.

Competition in the budget-friendly hybrid market, meantime, is hotting up between the MG3, Toyota Yaris and new Haval Jolion, given the new MG3 hybrid is priced from the aforementioned $27,990 plus ORCs, the Yaris from $28,500 plus ORCs and the significantly larger Jolion small SUV from $32,990 drive-away.

How much does the 2024 MG3 cost?
Excite – $24,990 drive-away
Essence – $26,990 drive-away
Hybrid+ Excite – $27,990 plus ORCs
Hybrid+ Essence – $29,990 Plus ORCs

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