RACV Ranks Most Affordable 2026 SUVs

The Royal Automobile Club of Victoria (RACV) has published its annual guide to the most affordable SUVs in Australia, revealing that the segment now accounts for 61 per cent of the new car market and flagging a sharp spike in consumer interest in electric vehicles over recent weeks.

The motoring club’s data shows 757,000 SUVs were sold in Australia in 2025, a 7.5 per cent increase on 2024. SUVs now outsell traditional passenger vehicles by more than four to one, with Chinese brands playing an increasingly prominent role in driving prices down across the segment.

EV Searches Jump 190 Per Cent In Two Weeks

RACV reported that its Car Match comparison tool recorded a 190 per cent increase in electric vehicle fuel type searches between 28 February and 11 March, compared to the two weeks prior.

The spike aligns with broader market trends. EV sales represented 11.8 per cent of the new car market last month, up from 8.4 per cent in January. RACV also noted that for the first time, China was the largest source of new cars sold in Australia during the same period.

RACV Motoring Editor, Andrea Matthews, pointed to the shift as evidence of a structural change in the Australian automotive market.

“EV sales now represent 11.8 per cent of the new car market last month, up from 8.4 per cent in January and for the first time last month, China was the biggest source of new cars in Australia,” Matthews noted. “This shows the evolution in brands and models that Australians are researching and buying, including petrol and EV cars sourced from China – including new Chinese brands and others like the Tesla Model Y.”

Chinese Brands Reshaping Price Competition

A consistent theme across the RACV guide is the influence of Chinese manufacturers on pricing. Several of the most affordable SUVs on the list come from brands such as MG, Chery, GWM, GAC and BYD, with drive-away prices starting below $23,000 in the cheapest segment.

Matthews framed the competitive pressure as a positive for buyers.

“There’s more choice than ever before for Australian buyers, and new entrants, particularly from emerging Chinese brands, are driving value for Australian consumers, with the competitive pressure delivering high-specification vehicles at more accessible price points across all major SUV segments,” Matthews explained.

The trend extends into the electric SUV category, where Chinese-manufactured models dominate the most affordable options across compact, small and medium segments.

Cheapest New SUVs Under $30,000

RACV’s analysis, based on estimated drive-away costs in Victoria, identifies the following as the most affordable new SUVs on the market:

The MG ZS small SUV leads the list from $22,990 drive-away, with a hybrid variant available from $29,990. The Chery Tiggo 4, GWM Haval Jolion and Mahindra XUV 3XO are all priced from $23,990 drive-away, making the sub-$24,000 bracket a competitive space.

Further up, the Suzuki Ignis comes in at $24,490, the GAC Emzoom at $27,291 and the Hyundai Venue at $27,858. At the $29,990 mark, buyers can choose from the Chery C5, Chery Tiggo 7, Kia Stonic and Skoda Kamiq.

Most Affordable Electric Compact SUVs

In the compact electric and hybrid SUV segment, the Hyundai Inster EV starts from $35,990 drive-away, followed by the Toyota Yaris Cross Hybrid at $36,135 and the Jeep Avenger EV at $40,000.

The compact segment remains relatively thin compared to the small and medium electric categories, though new entrants are expected to add competition over the coming year.

Cheapest Electric Small SUVs

The small electric SUV segment has become one of the more competitive categories, with five models available below $41,000 drive-away.

The BYD Atto 2 leads at $34,882, followed by the Jaecoo J5 EV at $36,990, the Chery E5 at $38,990, the Leapmotor B10 at $39,980 and the MG S5 EV at $40,990. Four of the five are manufactured by Chinese companies.

Cheapest Electric Medium SUVs

In the medium electric SUV segment, the BYD Atto 3 is the most affordable option at $43,218 drive-away. The Geely EX5 follows at $45,893, the GAC Aion V at $46,180, the Leapmotor C10 at $47,990 and the Skoda Elroq at $49,990.

The medium segment is where electric SUV pricing begins to overlap with equivalent petrol and hybrid models, a development that could accelerate the shift in buyer consideration toward EVs.

RACV Urges Buyers To Do Their Own Research

Matthews encouraged consumers to use RACV’s Car Match tool to compare running costs, features and specifications across the range.

“This month, we have noticed a sharp increase in traffic heading to RACV Car Match to research affordable electric vehicles, so we have broken down our guide into different segments to help with the search,” Matthews commented.

“RACV recommends consumers do their own research to work out what will suit their circumstances and we’ve made this simple with RACV Car Match which can help you find estimated running costs, compare features and specs, and the ability to view loan options.”

The full guide, covering compact, small, medium, large seven-seat and 4×4 off-road segments as well as hybrid and EV models, is available through RACV Car Match on the RACV website.

RACV noted that with new model arrivals and price changes occurring frequently, buyers should check manufacturer websites for the latest pricing and promotional offers.

Cheapest new SUVs under $30K:

1 MG ZS small SUV – from $22,990 drive-away (hybrid from $29,990)

2= Chery Tiggo 4 small SUV – from $23,990 drive-away (hybrid from $29,990)

2= GWM Haval Jolion small SUV – from $23,990 drive-away (hybrid from $29,990).

2= Mahindra XUV 3XO compact SUV – from $23,990 drive-away

5 Suzuki Ignis compact SUV – from $24,490 drive-away

6 GAC Emzoom small SUV – from $27,291 drive-away

7 Hyundai Venue compact SUV – from $27,858 drive-away

8= Chery C5 small SUV – from $29,990 drive-away

8= Chery Tiggo 7 medium SUV – from $29,990 drive-away

8= Kia Stonic compact SUV – from $29,990 drive-away

8= Skoda Kamiq compact SUV – from $29,990 drive-away

Most affordable electric SUVs

Top 3 cheapest hybrid and EV compact SUVs:

1. Hyundai Inster EV – from $35,990 drive-away
   
   
2. Toyota Yaris Cross Hybrid – from $36,135 drive-away
   
   
3. Jeep Avenger EV – from $40,000 drive-away

Top 5 cheapest electric small SUVs:

1. BYD Atto 2 – from $34,882 drive-away
   
   
2. Jaecoo J5 EV – from $36,990 drive-away
   
   
3. Chery E5 – from $38,990 drive-away
   
   
4. Leapmotor B10 – from $39,980 drive-away
   
   
5. MG S5 EV – from $40,990 drive-away

Top 5 cheapest electric medium SUVs:

1. BYD Atto 3 – from $43,218 drive-away
   
   
2. Geely EX5 – from $45,893 drive-away
   
   
3. GAC Aion V – from $46,180 drive-away
   
   
4. Leapmotor C10 – from $47,990 drive-away
   
   
5. Skoda Elroq – from $49,990 drive-away

Last Updated on March 20, 2026 by Nick Ross