'We won't lose sight of value': You won't see a $100,000-plus car like the MG Cyberster from GWM, this is why it won't follow other Chinese brands into the premium market

MG is preparing launch its $100,000 Cyberster, but fellow Chinese brand GWM won’t be following it into the six-figure market anytime soon.

GWM knows its strength is value and will continue to promote its affordability even as it contemplates a move into the more expensive end of the car market. The brand is currently considering three potentially more costly models - plug-in hybrid versions of the Cannon Alpha ute and Tank 500 SUV as well as the Ora Sport electric small car.

All three are under consideration for local launch, likely in 2025, but GWM Australia’s head of marketing and communications, Steve Maciver, said that cost is playing a major role in making a final decision. He admitted the price premium for the plug-in hybrid powertrain could be anywhere from $6000 to $15,000. The current Cannon Alpha hybrid is priced from $64,990 and the Tank 500 range consists of the $66,490 Lux and the $73,990 Ultra models, which means adding up $15,000 would potentially push into a region close to six-figures.

Maciver was hesitant to commit the brand to significantly higher pricing.

“You know, traditionally they have been quite expensive. We're still working through the business case as to what that pricing could look like. But value is going to continue to be an important part of what we do. So there's no doubt that we'll still continue to offer price," he said.

“Yes, there is going to have to be a premium there for that plug-in hybrid technology. But as with every car we bring to market, Tank 500 is no different, Cannon Alpha hybrid is no different, values really important and we won't lose sight of that.”

GWM, which also includes the Haval models, has some of the most affordable models in the segments it plays in. For example, the Haval Jolion starts at $26,990 and the Haval H6 is priced from just $33,900. But in recent years its newer additions are more expensive, with the Tank 300 range beginning at $46,990 for the petrol and $55,990 for the hybrid.

Maciver indicated GWM would continue to offer affordable models, he made it clear that value can also mean the brand could push into a more expensive area of the market and still make a strong case to consumers that they are getting a good return for their money. Specifically, the new plug-in hybrids offer potentially significant fuel cost savings to help off-set the higher asking price.

“Value is a relative term,” he said. “Everyone, regardless of what price you're buying at, looks for some level of value. If you didn't offer value, consumers wouldn't go towards you. If you look at the average selling price of a GWM product three or four years ago it was $24,000. The average selling price is now north of $40,000, with the addition of the likes of the Tank 300, Tank 500, Cannon Alpha, that's only going to go further north.

“To my earlier point, that value equation still has to be strong. So, the question is around, will customers still see value in a GWM plug-in hybrid even if it is priced at $60,000 or $70,000? We'd like to think so, and we'll make sure that the value stacks up. Ultimately consumers will decide. But if you've got the opportunity to drive and commute five days a week and not use any fuel, there's a trade off that happens pretty quickly there.”