Chinese EV Brands ramp up EOFY discounts as sales slow

Australia's EV battleground is heating up. With electric car sales in a slump and buyer enthusiasm cooling, China’s newest automotive entrants are throwing everything they’ve got into end-of-financial-year (EOFY) deals.

We're talking thousands off drive-away prices, ultra-low finance rates, bonus servicing, and even free charging cables.

▶️MORE: 2025 Geely EX5 Price and Specs: Undercuts Model Y By Over $20,000

A crowded market, a shrinking pie

Ten new car brands have landed in Australia in just the past year most of them Chinese and EV focused. Yet despite the plethora of new models, overall vehicle sales nudged up just 1.7% in 2024. Worse still, sales are forecast to decline in 2025.

“There’s a new EV brand arriving almost every month,” said James Voortman, CEO of the Australian Automotive Dealer Association. “But brand awareness is low, consumer sentiment on battery EVs is cooling, and the competition is fierce - from both Tesla and BYD.”

This is the key challenge for new brands: how do you sell an unfamiliar electric SUV in a shrinking, saturated market?

▶️MORE: Deepal S07 SUV Gets Major Price Drop

Deepal, Geely, XPeng and friends slash prices

There are the latest deals from some of the newcomers being offering before June 30:

• Deepal S07: Now $49,990 drive-away in NSW, saving around $8500.
• Geely: $2000 trade-in bonus, a free Mode 2 charging cable, plus a choice between five years of free servicing or a $2000 gift card.
• Leapmotor C10: Finance from just 1.9% comparison rate, on both hybrid and electric versions.
• XPeng: An industry-leading 10-year vehicle warranty, still on offer until EOFY.
• Smart #1 and #3 (Pro+ variants): Free rego, stamp duty, CTP, dealer delivery and three years’ scheduled servicing, be worth over $5500.

▶️MORE: 2025 Leapmotor C10 REEV Lands in Australia

BYD banks on finance, not cashbacks

While rivals go big on drive-away savings, BYD is leaning into low-rate finance, particularly for its plug-in hybrid line-up. Demand for these models has cooled following the end of the FBT exemption for PHEVs.

• Shark 6 Ute: 1.99% interest over 36 months (ABN required).
• Sealion 6 Essential: 2.99% comparison rate.
• Sealion 6 Premium: 3.99% comparison rate.
• Novated leases: 4% discount (excluding the Dolphin Essential), now that the FBT exemption for newly leased PHEVs has expired.

▶️MORE: Chinese EV Maker DEEPAL Challenges Tesla Model Y

Legacy brands join the clearance race

Legacy automakers aren’t watching from the sidelines. With EV stock piling up across the country, everyone’s making a move:

• Toyota: 1.9% finance on 2023 and 2024 bZ4X EVs, plus a free 7.4kW wallbox charger.
• Ford: Mustang Mach-E slashed by up to $7000, now starting from $63,000 drive-away.
• Tesla: $2500–$3500 discounts on new, in-stock (inventory) Model 3 sedans.

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