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The price of the cheapest new car with more than 300kW has dropped below $60,000 for the first time since 2018 – and it’s electric.
The cheapest ticket to owning a new car with a power output of more than 300kW has gone electric – and dipped below the $60,000 plus on-road costs mark for the first time since 2018.
Announced today, the MG 4 XPower electric hot hatch brings 320kW and 600Nm for $59,990 before on-road costs.
It is the first time a 300kW new car has been available for less than $60,000 before on-road costs since the final shipments of the pre-facelift, V8-powered Ford Mustang GT arrived in early 2018, which offered 306kW for $57,490.
The facelifted Mustang GT introduced in mid to late 2018 brought a power boost to 339kW – but a price rise to $62,990 plus on-road costs (for a manual Fastback coupe).
V8 Two-Door Sports Car Comparison – Ford Mustang GT vs Holden SS-V Redline Ute
The price has since crept up to $63,290 in 2019, and $65,290 today – all before on-road costs.
Affordable power has long been the domain of V8-engined muscle sedans, utes and coupes.
Aside from a timing glitch in 2005, where the VT-VZ Commodore platform was being phased out and the VE brought in, the most affordable way to a 300kW new car has worn a Holden or Ford badge in some form since 1998.
At this time, 300kW was supercar power and your starting point was the $299,900 Porsche 911 Turbo (993 generation) which offered an even 300kW from its twin-turbo 3.6-litre flat-six.
In 1994 the most affordable car with at least 300kW was a Ferrari 512tr, and in 1990 there was only one option, a $670,000 Lamborghini Countach 25th Anniversary, that offered 339kW from its 5.2-litre V12.
Sadly, most of the ‘affordable’ brands are but a memory, with Corsa Special Vehicles (CSV), Holden Special Vehicles (HSV), Ford Performance Vehicles (FPV) and even Holden itself resigned to the history books.
The arrival of the MG is the first time a high-performance electric car has dipped below the $60,000 mark too, the nearest being the Polestar 2 Long Range Dual Motor in early 2022, with 300kW for $69,900.
Entry to the 300kW club – past 20 years
| Year | Car | Power | Price |
| 2024 | MG 4 XPower | 320kW | $59,990 |
| 2023 | Ford Mustang GT | 339kW | $65,290 |
| 2022 | Ford Mustang GT | 339kW | $65,290 |
| 2021 | Ford Mustang GT | 339kW | $64,390 |
| 2020 | Ford Mustang GT | 339kW | $64,190 |
| 2019 | Ford Mustang GT (facelift) | 339kW | $63,290 |
| 2018 | Ford Mustang GT (pre-facelift) | 306kW | $57,490 |
| 2017 | Holden VF II SS Ute | 304kW | $43,990 |
| 2016 | Holden VF II SS Ute | 304kW | $41,490 |
| 2015 | Holden VF II SS Ute | 304kW | $40,990 |
| 2014 | Ford Falcon XR8 FG X | 335kW | $52,490 |
| 2013 | FPV GS Boss FG MkII | 315kW | $52,990 |
| 2012 | FPV GS Boss FG MkII | 315kW | $52,990 |
| 2011 | FPV GS Boss FG | 315kW | $52,990 |
| 2010 | FPV GS Boss FG | 315kW | $51,990 |
| 2009 | FPV GS 302 FG | 302kW | $49,950 |
| 2008 | FPV Pursuit BF MkII | 302kW | $54,920 |
| 2007 | FPV Pursuit BF MkII | 302kW | $54,920 |
| 2006 | HSV VE Clubsport R8 | 307kW | $62,890 |
| 2005 | Porsche Cayenne Turbo | 331kW | $203,400 |
| 2004 | HSV VY GTS | 300kW | $97,500 |
| 2003 | HSV VY GTS | 300kW | $94,650 |
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