Price hikes for Chery Omoda 5

Just three months after its launch, the 2023 Chery Omoda 5 is now between $100 and $1000 more expensive (depending on which state you live in) as part of a new national drive-away pricing structure introduced this month.

But the fresh pricing strategy for the all-new small SUV, which relaunched the Chinese auto brand in Australia after a seven-year hiatus in March, may only be in place for a few weeks until the new financial year.

Launched with a competitive starting price of $29,900 plus on-road costs – which vary from state to state – Chery’s answer to the Hyundai Kona now retails for $32,990 drive-away in entry-level BX guise, while the more lavish EX variant now costs $35,990 drive-away.

The new pricing model quietly came into effect on June 1 and, at base level, marks an increase of around $300 in Victoria, $600 in Tasmania and WA, $700 in South Australia, $800 in New South Wales, Queensland and the Northern Territory, and $1000 in the ACT.

Meantime, the EX costs $100 more in Victoria, $300 more in WA, $400 more in Tasmania, $500 more in NSW, SA and Queensland, $600 more in the NT and $800 more in the ACT.

Neither Omoda 5 variant has received any adjustments to its standard equipment list or mechanical package, which for reference comprises a 108kW/210Nm 1.5-litre four-cylinder turbo-petrol engine and a continuously variable automatic transmission.

In a statement issued to carsales, Chery Australia said it was “constantly reviewing” its “pricing in this current climate”, but say why it had adopted a drive-away pricing strategy now – or why it launched without one in the first place, as per compatriots MG and GWM.

Perhaps more importantly, the new Omoda 5 prices may only be in place for this month and could change come the new financial year.

“Following our launch, we have adjusted our pricing and moved to a nationwide driveaway pricing for June,” a Chery spokesperson said.

And the fine print on the Omoda 5 landing page of the Chery Australia website says: “Drive-away pricing includes 12 months registration, 12 months compulsory third party insurance, stamp duty, other applicable statutory charges, dealer delivery and administration charges.

“Price is applicable to vehicles sold from 01 June 2023 to 30 June 2023, excluding optional extras.”

Chery executives declined to comment on Omoda 5 pricing post-July 1, but if the rest of Australia’s new-vehicle industry is anything to go by, there could be some more price increases on the way for China’s newest compact SUV.

How much does the 2023 Chery Omoda 5 cost?
BX – $32,990
EX – $35,990
* Prices are drive-away

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