Old $18,990 MG3 to continue until end of 2024

The new-generation 2024 MG3 city hatch has landed in Australia – but the outgoing MY23 model will continue to be available in run-out until the end of this year.

MG Motor Australia told Wheels it will have enough stock of the previous MG3 to last until the end of 2024.

“We will also continue providing our old MG3 until the end of this year,” said MG Motor Australia CEO Peter Ciao. “Lots of customers are originally used car buyers but they go to MG3 [instead]."

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Based on the MG3’s average monthly sales figure in 2023, MG could have thousands of previous-generation MG3s still in stock.

The old MY23 MG3 is available in run-out for between $18,990 and $19,990 drive-away – making it the only brand-new vehicle available for under $20,000 drive-away following price rises for the new MY24.5 MG3 and the smaller Kia Picanto.

MY24 MG3s that remain in stock (old model) will continue to retail for $19,990 to $20,990 drive-away.

Prices for the all-new 2024 MG3 (MY24.5) have risen between $7000 and $8000 compared to the previous model, with the entry-level Excite petrol available for around $26,000 drive-away in New South Wales compared to the $18,990 national drive-away pricing for the old entry-level model.

Officially, the 2024 MG3 petrol line-up is priced between $23,990 before on-road costs for the base Excite and $25,990 before on-roads for the up-spec Essence. Full-hybrid versions add $4000, topping out at $29,990 before on-roads (around $32,000 drive-away).

Standard equipment has increased for the new MG3, including modern safety equipment like autonomous emergency braking (AEB), lane-keep assist, blind-spot monitoring and rear cross-traffic alert.

The MG3 has been undercut by the new-generation Suzuki Swift – a reskinned version of the outgoing model with a new three-cylinder mild-hybrid engine as standard – which costs between $24,490 and $29,490 drive-away.

The combined fuel consumption of the Suzuki Swift mild-hybrid is also narrowly less than the MG3 Hybrid+ at 3.8L-4.0L/100km and 4.3L/100km, respectively. However, the four-cylinder MG3 Hybrid+ offers more power than the three-cylinder Swift mild-hybrid at 155kW versus 61kW.

MG said it is not concerned that the new MG3 could follow the Toyota Yaris, which sold one-fifth of its 2019 total in 2023 after the current model launched in 2020 with a circa-$7000 price rise – from $15,390 in 2019 to $22,130 in 2020 and $28,500 in 2024.

“The Yaris is a big jump in the price but the MG has the best price [in the light car segment]. The new MG3 has bumped the price but we’re still the best price in this segment with all the technology and much more spec, so I don’t think I need to worry about that,” said Ciao.

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“There’s still ZS that’s available. That’s still quite attainable at its [$22,990 drive-away] price point,” added MG Motor Australia spokesperson David Giammetta.

Like the old MG3, the entry-level ZS Excite lacks advanced safety technology such as soon-to-be-mandated AEB, which adds to a vehicle’s overall cost. The ZST – available from $25,490 drive-away – includes these features.

An all-new ZS due in local showrooms at the very end of 2024 is likely to receive price rises that will push it closer to $30,000 drive-away.