The new cars with the most power per dollar – 2024 edition

12/30/2024 07:43 PM

As with most new cars, prices of high-performance vehicles have risen steadily over the past decade through the COVID-19 pandemic, emissions standards limiting choice and the demise of affordable Australian-made V8s.

But – thanks in large part to hybrid and electric cars – plenty of new cars still offer a big punch for a relatively attainable outlay, by modern standards.

After iterations of Drive‘s ‘Cheap Speed’ series published in 2020, 2022 and 2023, below is a list of the new cars that offer the most power per dollar – or more accurately, charge buyers the least for each kilowatt they produce.

There are no restrictions on the type of car, SUV, ute or van eligible – so there is a mix of high-performance electric cars, to heavy-duty four-wheel-drives, and base-model work utes.

• Eligible vehicles must currently be in production for Australia, or about to commence production. Orders can be on pause, but in this case, production must be ongoing.
• Vehicles are eligible if they are available to order but yet to commence deliveries.
• Power outputs are based on manufacturer claims and/or what is supplied by car makers to the Federal Government.
• The highest-ranking version of a particular vehicle is the only variant used unless there is a difference in engines (e.g. Mazda 6 non-turbo and turbo are both allowed, but only one transmission, trim grade and body style of each). Optional extras are allowed.

Note: We have made a subtle change to the rules this year: Tesla prices no longer include the $1400 ‘Delivery Fee’, as this is the arbitrary dealer delivery fees other brands use to cover the cleaning and inspection of cars prior to delivery, and which they do not include in the before on-road costs RRP either.

However, we continue to include the $400 order fee as other car brands do not charge for placing an order. We have tweaked the 2023 list accordingly, as a point of comparison.

All prices are correct as of publishing in late December 2024, and exclude on-road costs where available.

10. Zeekr X AWD ($206.03/kW)

Tenth place is occupied by a new Chinese brand to Australia, Zeekr, with the flagship, dual-motor version of its X electric small SUV.

It is powered by two electric motors developing 315kW and 543Nm combined – good for 0-100km/h in a claimed 3.8 seconds – for a $64,900 plus on-road costs RRP, equating to $206.03 for every kilowatt.

The same 315kW drivetrain is fitted to its twins under the skin, the Volvo EX30 Twin Motor Performance, Smart #1 Brabus and Smart #3 Brabus.

However, these vehicles are more expensive – the Smart #1 priced from $67,900 for a 13th-placed finish, the Smart #3 priced from $70,900 to finish 22nd, and the Volvo $71,290 to place 23rd, compared to 11th last year.

MORE: 2025 Zeekr X price and specs – Electric SUV cheaper than Volvo sibling

9. Chery Tiggo 4 Pro Urban ($203.61/kW)

The Chery Tiggo 4 Pro small SUV is far from a performance car, but modest performance combined with a low price sneak it onto this list.

Its 1.5-litre turbocharged four-cylinder petrol engine only produces 108kW/210Nm, but it is priced from $23,990 drive-away or – for the purposes of this list, to level the playing field with vehicles which do not quote nationwide drive-away prices – $21,990 before on-road costs.

It equates to $203.61 per kilowatt – a value that would have placed it fifth in 2022, and sixth in 2023.

MORE: 2025 Chery Tiggo 4 Pro review – quick drive

8. Tesla Model Y Long Range ($185.98/kW)

The first of three Tesla vehicles on this list, the Model Y Long Range finishes in eighth with a dollar-per-kilowatt ratio of $185.98/kW.

Tesla has slashed the price of the Model Y Long Range by $8500 over the past 12 months, but changes to other vehicles – as well as new arrivals – have pushed it from sixth to eighth place on this list.

It is difficult to confirm power outputs for Tesla vehicles, as the brand does not clearly publish them like all other manufacturers.

The figure Tesla has listed in Australian government homologation documents for the Model Y is 378kW, which is the theoretical maximum output of the two electric motors, even if the battery can’t supply that much energy.

The real-world combined output would also be affected by gear ratios of each motor, and sources differ on the true output of each motor – Tesla’s owners’ manual in China, where Australian cars are built, quotes lower numbers – but we have selected the Australian government-approved output for consistency on this list.

It means the Model Y Long Range offers 378kW for $70,300 – which excludes on-road costs such as stamp duty and registration, but includes Tesla’s $400 order fee as other brands roll these into the RRP – equating to $185.98/kW.

MORE: 2024 Tesla Model Y price and specs – up to $8500 price cut with design update

7. MG 3 Hybrid+ Excite ($180.58/kW)

Priced from $27,990 plus on-road costs in Excite trim, the MG 3 Hybrid+ is Australia’s most affordable new full-hybrid car – and the most powerful in its class.

MG claims the 75kW 1.5-litre four-cylinder petrol engine and 100kW electric motor combine to produce 155kW, which equates to $180.58 per kilowatt – better than a Ford Mustang GT V8 two years ago ($192.60/kW).

A 0-100km/h acceleration time of 8.0 seconds is quoted by the manufacturer, but Drive has timed the hybrid MG 3 at 7.2 seconds on specialist GPS equipment, with plenty of charge in the car’s battery – on par with a Suzuki Swift Sport turbo hot hatch.

MORE: 2024 MG 3 price and specs – new model brings $7000 price hike, hybrid option

6. BYD Shark 6 Premium ($180.37/kW)

The first dual-cab ute – and second-ever ute of any kind – in a Drive Cheap Speed Top 10, the BYD Shark 6 Premium plug-in hybrid stunned earlier this year when it was announced with a $57,900 plus on-road costs price.

It is similar in price to a Ford Ranger XLS – a mid-spec diesel ute with halogen headlights and cloth seats – but packs a 1.5-litre turbo-petrol four-cylinder and dual electric motors developing a claimed 321kW and 650Nm.

That equates to a price-to-power ratio of $180.37/kW, which would’ve been enough for second place on last year’s list – but finishes sixth here due to even better-value cars.

For context, the only other ‘mid-sized’ ute on sale with a similar amount of power – a 292kW/583Nm twin-turbo petrol V6 Ford Ranger Raptor – charges $309.73 for each of its kilowatts.

MORE: 2025 BYD Shark 6 price and specs – plug-in hybrid ute on sale now

5. Tesla Model 3 Long Range ($178.42/kW)

The Tesla Model 3 Long Range sat on the bottom step of the podium last year, offering 366kW – according to Australian government documents – for $72,300 plus on-road costs, once the order fee is rolled in.

Since then, Tesla has slashed the price to $65,300 plus on-road costs – $400 order fee included – cutting its price-to-power value to $178.42/kW, but it was only enough for fifth place this year.

MORE: 2024 Tesla Model 3 Long Range review

4. Tesla Model 3 Performance ($176.36/kW)

The top-placed Tesla Model 3 on this list, the new top-of-the-range Performance variant is the quickest and most powerful car the company sells.

It is priced from $81,300 plus on-road costs – after the order fee – but Australian government documents list a 461kW power output, good for $176.36/kW and 0-100km/h in a quoted 3.1 seconds.

As with the other Teslas on this list, the Model 3 Performance’s real-world power output is lower than 461kW; the limit of its battery pack is believed to be closer to 400kW, and Tesla’s website only claims 343kW.

However, we have quoted what is listed in Australian government homologation documents for consistency with the other cars on this list.

MORE: 2024 Tesla Model 3 Performance review

3. MG 4 XPower ($174.97/kW)

The MG 4 XPower dropped the price of entry into a 300kW car below $60,000 for the first time in five years on launch in late 2023.

Powered by dual electric motors with peak outputs of 320kW/600Nm – or a ‘continuous’ 300kW – it finished second place on this list last year, offering $187.47/kW at its list price of $59,990 plus on-road costs.

The brand has since lowered the MG 4 XPower’s price to $55,990 plus on-road costs for a value of $174.97/kW, which would have won last year’s list, but is only enough for third in 2024.

Factor in ‘factory bonuses’ – manufacturer-funded discounts – of $8000 offered earlier this year and the list price could be as low as $47,990 plus on-road costs, translating to $149.97/kW.

However, this discount represented a limited-time offer on old stock, not a permanent price cut – and regardless, they are a reduction on the final drive-away price, not the RRP before on-road costs.

MORE: 2025 MG 4 XPower review – should MG sell this sporty accessory pack?

2. BYD Seal Performance AWD ($168.58/kW)

The winner of last year’s Cheap Speed rankings, the BYD Seal Performance, returns for 2024 with a second-placed finish.

In 2023, it took the top spot with dual electric motors developing 390kW/670Nm and a claimed 0-100km/h acceleration time of 3.8 seconds, all in a car priced from $68,748 plus on-road costs, for $176.28/kW.

Since then, BYD has cut the RRP to $65,748 before on-road costs, sharpening the value equation further. But it wasn’t enough to hold onto the title.

MORE: 2024 BYD Seal Performance review

1. GWM Haval H6 GT PHEV ($157.87/kW)

Bet you didn’t see this one coming.

The new plug-in hybrid version of the GWM Haval H6 GT mid-size SUV is powered by a 110kW/230Nm 1.5-litre turbo four-cylinder petrol engine, two front electric motors, one 135kW/232Nm rear electric motors, and a 35.4kWh battery.

The result is an incredible claimed power output of 342kW – plus torque of 762Nm – for a quoted 0-100km/h acceleration time of 4.9 seconds.

It is listed on the GWM website for $55,990 drive-away, but to level the playing field with other cars on this list without nationwide drive-away prices, we have used the $53,990 plus on-road costs RRP to calculate a value of $157.87 per kilowatt.

Power outputs from plug-in hybrid cars require optimal conditions, with a full battery charge. We look forward to testing GWM’s performance claims when the H6 GT PHEV arrives in Australia in the new year.

Last year’s top finishers: Where are they now?

Six of 2023’s Top 10 Cheap Speed finishers have failed to make the cut for 2024.

A former mainstay of this list, the Hyundai i30 hatch has dropped out as the cheapest model is now priced from $36,000 before on-road costs with a 117kW engine, translating to $307.69/kW.

It is branded as an N Line, yet it is less powerful – and 50 per cent more expensive – than 2023’s most affordable i30 ($24,000 for 120kW, equating to $200/kW), let alone the 150kW N Line ($203.33/kW) sold last year.

Here’s what happened to the other cars which finished in the Top 10 last year, but missed out this year:

• GWM Tank 300 Lux Hybrid ($209.26/kW, seventh place) – now 11th, pipped by the arrival of new models
• Toyota HiLux Workmate 4×2 single-cab chassis petrol manual ($217.01/kW, eighth place) – now 15th due to other cars offering more power per dollar
• GWM Haval H6 Premium ($218.60/kW, ninth place) – now 17th due to newer, better-value arrivals
• Kia Carnival S petrol V6 ($219.81/kW, 10th place) – dropped out of the Top 20 due to price rise from $47,480 to $50,150 before on-road costs

Honourable mentions

Cars which just missed out on the Top 10 are as follows: GWM Tank 300 Lux Hybrid ($209.26/kW), Tesla Model Y Performance ($211.96/kW), Smart #1 Brabus ($215.56/kW), Chery Tiggo 8 Pro Max Urban ($216.61/kW), and Toyota HiLux Workmate 4×2 single-cab chassis petrol manual ($217.01/kW).

The post The new cars with the most power per dollar – 2024 edition appeared first on Drive.