Popular cheap electric car hit with price rise: 2024 MG4 price rises by $1000 as it wages war on the GWM Ora and BYD Dolphin 

Booming car maker MG has raised the prices of its MG4 electric hatchback.

The Chinese maker started a tsunami of price cuts when it slashed the price of 2023 MG4 models in March.

Those price cuts brought the price down to $39,990 drive-away for the entry-level MG4 51kWh Excite, which was a reduction of thousands.

Read More About MG MG4

2024 MG4 and MG ZS EV are Australia's two cheapest new electric cars! Chinese brand introduces drive-away pricing and undercuts BYD Dolphin and GWM Ora European electric car price slashed by $10,000: 2024 Renault Megane E-Tech price slashed to move more units of BYD Atto 3 and Hyundai Kona electric rival 2024 Tesla Model Y and Model 3 prices slashed: Electric car war heats up in Australia as Hyundai Ioniq 5, Toyota bZ4X and BYD Seal rivals get cheaper

Now MG has lifted the price by $1000 for newer 2024-plated MG4s. The price remains lower than the pre-March drive-away figure and still undercuts the circa-$41,490 drive-away BYD Dolphin.

The range-topping Xpower performance variant is the only exception with its price remaining at $59,990 drive-away.

An MG spokesperson put the price rise on 2024 models down to increased cost of doing business.

“Like other markets and industries, our costs are going up as are the costs to do business so it is only natural that the prices will have to follow that trend, however, we have made a conscious decision to absorb those costs for some models when and where possible.”

Buyers can still get their hands on 2023 MG4s according to the brand with plenty of stock across most variants.

The 2024 MG4 range starts at ,990 drive-away.

A price war has been unfolding in the electric car market in the past few months with some makers offering massive discounts on their electric cars.

BYD has knocked up to $8000 off 2023 Atto 3 demonstrators and Peugeot slashed $25,000 off the price of its e-2008 small electric SUV. Peugeot has since sold out of the e-2008 and it won't be on sale until an updated model has arrived.

Nissan has lopped $16,000 off the price of its slow-selling Leaf electric hatchback.

GWM cut thousands off the price of the Ora hatch to $35,990 drive-away, whic. makes it Australia’s cheapest EV.

Renault has gotten in on the act too, slicing $10,000 off its Megane E-Tech small electric SUV, which only launched a few months ago.

Tesla cut the price of the Model Y and 3 repeatedly in April.

The Model Y is between $4500 and $8500 cheaper than it was in March and the Model 3 is between $3000 and $4000 more affordable.

High-end makers aren't immune either. Lotus shaved $50,000 off the price of its Eletre luxury SUV before the first vehicles arrives in a few months.