End-of-financial-year car deals always tell two stories at once. One is the marketing one, with cash back and drive-away signs in every dealer window. The other, more useful one is which stock the brand needs to move before 30 June, and that is what Carseekers buyers should be reading right now.
Electric and plug-in hybrid stock is the loudest signal in the 2026 EOFY campaign. Brands that ordered too much battery-powered inventory are running the sharpest cuts, and a handful of those numbers are genuinely worth chasing. Here is the full picture, with the small print.
Kia leads with a brutal Tasman cut
Kia is offering driveaway pricing across most of its range, with the most aggressive cut sitting on the struggling Tasman ute. The range-topping X-Pro Tasman is now $64,990 drive-away, which equates to more than a $10,000 discount on the standard before-on-road-costs price. The deal runs to 30 June 2026.
That is the kind of number that screams stock problem rather than promotional generosity. Tasman demand has under-delivered against Kia's expectations, and the brand has already been forced to publicly admit styling and engine changes are coming for the next model year. If you can live with the current styling, this is a genuine bargain.
Kia's EV3 and EV5 also pick up sizeable drive-away discounts running to 30 June 2026. The EV3 lands at $46,990 drive-away, which essentially makes the on-road costs free, while the EV5 drops to $49,990 drive-away from $56,770 before on-road costs.
Those EV5 numbers are competitive against the Tesla Model Y and the new wave of Chinese mid-size electric SUVs. Worth a serious test drive.
Hyundai's deals run shorter
Hyundai has put out some of the sharpest electric offers, but with a tighter window. The deals end on 31 May 2026, so buyers have less time to move than the 30 June campaigns.
The Kona Electric range starts at $45,990 drive-away. The recently launched Elexio SUV is available from $57,990 drive-away, down from $58,990 before on-road costs, which is a useful sweetener for an unproven new badge.
The Ioniq 5 is the other Hyundai standout, starting at $71,990 drive-away until 31 May 2026. That undercuts the equivalent Kia EV6 in most configurations, and matters for buyers cross-shopping the two Korean siblings.
The short window is a deliberate dealer-pressure tactic. Push back on any pre-order request to lock you in past 31 May without holding the driveaway price.
MG goes wide with cash back
MG is offering discounts across its range to close out the financial year, with all deals running until 30 June 2026. The biggest single number is a $6,000 cashback offer on plug-in hybrid variants of the mid-size HS SUV, which makes the HS PHEV one of the sharpest priced petrol-electric mid-size SUVs in the country right now.
Petrol and conventional hybrid HS examples are available with a $3,000 cashback offer. The same $3,000 cashback applies to the QS large SUV and the U9 ute. Importantly, MG is bundling five years of free servicing into those $3,000 cashback deals, which materially shifts the true cost of ownership.
The ZS small SUV and MG3 hatch get minor conditional discounts. These are the cars MG sells without needing a discount, so do not expect the offers to be huge.
BYD's $3,000 cashback hits everything
BYD is offering $3,000 cashback on several of its models for vehicles delivered by 30 June 2026. The Premium variant of the popular Shark 6 plug-in hybrid ute is included and now lists from $54,900 before on-road costs.
Both variants of the Sealion 5 PHEV mid-size SUV are also eligible, starting from $30,990 before on-road costs. That puts the Sealion 5 PHEV uncomfortably close to non-electrified small SUV pricing, which is the kind of number that quietly pulls buyers out of Toyota Corolla Cross and Mazda CX-30 cross-shop lists.
The Sealion 6 and Sealion 8 PHEV SUVs are also in the $3,000 cashback pool. With BYD's volume goals firmly aimed at top-three Australian brand status this year, expect dealers to be flexible on driveaway pricing if you push.
Chery, Ford and Toyota play their own games
Chery is in on the EOFY action with a $5,000 cut on the Tiggo 7 plug-in hybrid large SUV, now from $34,990 drive-away. The Tiggo 4 small hybrid and Tiggo 8 PHEV large SUV both pick up a $2,000 factory bonus.
Ford has substantially reduced the plug-in hybrid Ranger, which is now from $62,000 drive-away, down from $71,990 before on-road costs, until 30 June 2026. That brings it within striking distance of the rival BYD Shark 6 at $57,900 before on-road costs, which had been embarrassing Ranger pricing all year. Some diesel Ranger variants are also being offered with sharp drive-away deals.
Toyota's full-size Tundra hybrid ute has had a more than $10,000 cut on 2025 models, with the offer combining removed on-road costs and a cashback bonus. The Tundra now starts at $145,990 drive-away until 30 June 2026. This is a stock-clear deal on a slow seller, not a sign of softening Toyota pricing across the board.
What the deals tell you about the market
The pattern across this EOFY round is consistent. EVs and plug-in hybrids are being discounted hardest, because that is where inventory has built up. Diesel utes, conventional hybrids and Toyota's mainstream SUVs are barely moving on price, because demand still outstrips supply.
For buyers, this is the cleanest opportunity in years to step into a PHEV or EV at a price that makes financial sense. Sealion 5 PHEV at $30,990, EV5 at $49,990 drive-away and Kona Electric at $45,990 drive-away all sit inside the same budgets that used to only buy a base petrol SUV.
It is also a wake-up call for legacy ute pricing. Ford cutting the PHEV Ranger by close to $10,000 is the brand admitting Shark 6 has rewritten the value benchmark. Expect Ranger and Hilux pricing pressure to continue into the new financial year.
Dealer behaviour to watch
Every EOFY campaign hides a few traps. Watch for short deal windows (Hyundai's 31 May cutoff) and dealer requests to hold deposit without locking the drive-away price. Insist that any signed paperwork records the exact driveaway figure, the exact build date, and a stop-loss date if delivery cannot happen before the offer's expiry.
Also ask about stock specifically in your colour and trim. A $10,000 Tasman cut is only valuable if the vehicle on the floor matches what you actually want. Dealers will often try to upsell a higher-spec variant on the basis that EOFY supply is limited, and that line is often more sales tactic than fact.
Finally, do not let the EOFY noise pull you out of the homework. A sharp discount on the wrong car is still the wrong car. Cross-check the model against current reviews and warranty terms before signing.
The Carseekers take
This is the strongest EOFY for plug-in hybrid and electric pricing we have seen in Australia. The Tasman, Sealion 5 PHEV, EV5 and PHEV Ranger numbers are all genuinely sharp, and a few of them will not return to those levels after 30 June.
If you have been waiting on a new SUV, ute or EV, this is a real window. Carseekers shoppers should book test drives now, hold dealers to drive-away pricing on paperwork, and avoid getting pushed up the trim ladder on the pretext of stock shortages.
Considering finance for your next car? Loanseekers can help you explore car loan options.
The finer details
Your questions answered.
When do the 2026 EOFY car deals end?
Most run until 30 June 2026, including offers from Kia, MG, BYD, Chery, Ford and Toyota. Hyundai is a notable exception, with its electric Kona, Elexio and Ioniq 5 drive-away offers ending earlier on 31 May 2026. Always confirm the exact expiry on signed paperwork.
What is the best EOFY car deal in Australia right now?
The Kia Tasman X-Pro drive-away cut to $64,990 is the largest single-model price cut, more than $10,000 off, reflecting how slow Tasman sales have been. The Sealion 5 PHEV at $30,990 is the sharpest electrified mid-size SUV deal, and the PHEV Ford Ranger at $62,000 drive-away is the most aggressive ute discount.
Why are EVs and PHEVs getting the biggest EOFY discounts?
Electric and plug-in hybrid stock has built up faster than expected as buyers shifted preference toward conventional hybrids and petrol. Brands are clearing inventory before 30 June to avoid carrying it into the new financial year, which is why EV and PHEV offers are sharper than petrol or diesel SUVs.
Should I wait until after EOFY to buy a new car?
Generally no. Stock-driven discounts on slow-moving EVs and PHEVs tend to disappear once factory bonuses end, with prices rebuilding through July and August. Hybrid utes and Toyota SUVs see less EOFY discount, so for those it does not matter much, but for EVs and PHEVs the window is now.
Do EOFY car deals include on-road costs?
Read the fine print. Many offers are drive-away, which includes registration, CTP and dealer delivery fees. Others quote a before-on-road-costs price plus separate cashback, which often comes back from the manufacturer rather than the dealer. Always ask for a total drive-away quote in writing before signing.
Will the Ford Ranger PHEV match the BYD Shark 6 on price?
Almost. The PHEV Ranger is now $62,000 drive-away versus the Shark 6 at $57,900 before on-road costs, which closes a $10,000 gap that had been embarrassing Ford all year. The Shark 6 is still cheaper after on-road costs, but Ranger now offers a competitive PHEV alternative to buyers who want the Ford badge.
