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Car news, 04 Apr ’24: Kia’s electric EV5 could land under $60K, Tesla slashes Model Y pricing by up to $8500, and more

Olek Novak

Every important car news story breaking today, one convenient read

Thanks for joining us this Thursday April 4th 2024. Notably in car news today: a sub $60K price is expected for Kia’s prospective electric volume-selling EV5 midsize SUV, while key rival Tesla Model Y gets its lineup’s pricing slashed by up to $8500. 

Browse this issue:

Sub-$60K price expected for Kia’s EV5 midsize electric SUV

  • The new Kia EV5 midsize electric SUV is expected to undercut the Tesla Model Y with a sharp sub-$60K entry price before on-road costs when the model launches in Australia this June.
  • A compelling price proposition will be crucial for the Chinese-built lineup to compete against the Model Y – Australia’s  top selling electric vehicle – which starts at a recently reduced $63,900 list for its standard-range rear-wheel-drive base variant. 
The Chinese-built Kia EV5 will launch in Australia in June
  • The EV5’s positioning is geared for value and volume sales as compared to the more expensive EV6 and EV9. Crucially, Kia says that opting for a Chinese-sourced model as compared to a Korean-sourced vehicle offers several advantages, one of which being the elimination of competition with Europe for supply.
  • Kia says it will be able to secure up to 850 units a month, meaning a potential sales volume of around 10,000 a year, with the EV5 groomed to be one of Kia’s most popular vehicles, and its biggest electric vehicle to date.

READ: Chasing Cars’ full run-down on what to expect from the new EV5

WATCH: Our walkaround preview of the EV5 on display in Australia!


Look out Tesla Model Y, Kia is coming for you! What do you think of the new EV5? #kia #ev5 #cars #suv #ev

♬ original sound – Chasing Cars | Car Reviews

Tesla Model Y pricing slashed by up to $8500  

  • Tesla Australia has slashed pricing of two of its three variants of the biggest-selling electric car in the country, the Model Y midsize SUV.
  • The biggest mover is the Model Y Performance, with Tesla slashing $8500 off the list price for the flagship dual-motor variant which now lists from $82,900. With no options fitted and in white paint, this variant now slips under the Luxury Car Tax threshold
2023 Tesla Model Y Performance red front 3/4 close
Tesla has slashed pricing for two of its three Model Y variants (Performance grade pictured)
  • The dual-motor Model Y Long Range has been treated to a $5500 price reduction and now lists from $72,900
  • Meanwhile, the entry-level, single-motor, rear-driven Model Y has been trimmed by a modest $1500 and kicks the range off from $63,900 before on roads. 
  • The price reduction is hardly in response to flagging sales: according to March VFACTS industry sales data, Tesla Y sat only behind Ford Ranger and Toyota RAV4 in outright sales (with 4379 units) as the third-biggest seller in Australia for that month, supplanting the mighty Toyota Hilux to fourth.  

Ford Ranger PHEV spotted on Aussie roads!

  • The much anticipated plug-in hybrid iteration of Australia’s top-selling vehicle, the Ford Ranger pickup, has been spotted on Australian roads thanks to a keen-eyed member of the public.
  • Parked unassumingly in a Bunnings car park in Sunbury, Victoria, the white Ranger PHEV is decked out with black wheels, side mirrors and grille, but there is little to to give it away as a plug-in hybrid except for a charging port above the rear passenger side wheel.
The Ford Ranger PHEV has been spotted in Victoria (Image credit: Next-Gen Ranger Owners Australia, Facebook)
  • Ford has previously confirmed a Ranger PHEV dual-cab ute will go on sale in early 2025, promising an electric range “in excess” of 45 kilometres, and 3.5-tonne towing capacity with the engine in operation.
  • The images surface after the Ranger cemented its lead as Australia’s most popular car in the latest monthly new car delivery figures – 5661 units were sold in March, ahead of its arch rival the Toyota Hilux ute which slipped to fourth position on 3995 units.

Hot deal for Skoda Kodiaq buyers 

  • The Skoda Kodiaq Sportline will be offered at the same price as the lower Style variant, and will be priced at a national driveaway price of $56,490
  • The Kodiaq joins the $32,990 Kamiq, $39,990 Karoq and the $42,490 Octavia Sportline, all of which are driveaway prices. 
Skoda’s Kodiaq Sportline (pictured) is being offered at the same price as the lower Style variant
  • Standard features for the Kodiaq Sportline include 20-inch alloy wheels, Matrix LED headlights, tyre pressure monitoring, aluminium pedals, sports comfort cloth front seats and a power adjustable driver’s seat. 
  • Options include leather seat upholstery with front ventilation ($2300) and a panoramic sunroof ($1900). 
  • A run-out pack is also offered for $4600 which includes adaptive chassis control, powered front passenger seat, 360-degree camera and adaptive lane guidance all included.  

Polestar 4 walkaround published  

  • Chasing Cars’ production specialist Tom Place’s walkaround of the 2024 Polestar 4 was published.

  • Place had the opportunity to get up close and personal with the new 4 SUV in Australia, which will see first deliveries begin in August 2024
First deliveries of the Polestar 4 in Australia will begin in August
  • Two grades will be offered from launch, with the long-range single motor to cost $81,500 before on-road costs, or $93,050 before on-road costs for the long-range dual motor. 
  • Place explains in his video why the car lacks a rear window, and instead uses a digital centre rear-view mirror
  • Up to 400kW of power will be available, with power coming from a large 100kWh (94kWh usable) battery pack.

WATCH: 2024 Polestar 4 walkaround

The next issue of Car News Today will be published on Friday 5th April at 4.30pm Sydney time.