Six of the best

Light car: Suzuki Swift Hybrid Hatchback MY24

Queensland’s least expensive new car to own is the Suzuki Swift, a small three-cylinder-powered five-door hatchback boasting a CVT transmission and fuel-saving mild hybrid technology.

But in a sign of how much prices have risen, even at this budget end of the market new car buyers still need to find almost $30,000 to gain entry.

Despite this, Light Passenger cars are still clearly the least expensive vehicles to own and operate, with the Swift’s private ownership costs around $1,800 per year less expensive than Small car class winner the MG5 Essence.

Proving that a low purchase price doesn’t always equate to low overall costs, the Mazda 2 Pure SP is priced $25 below the Suzuki but costs around $1,000 more per year to operate.

The Toyota Yaris SX Hybrid has the category’s lowest fuel, servicing and replacement tyre costs, but its high purchase price means it costs an extra $1,656 per year.

Volkswagen’s Polo Life is slightly less expensive than the Yaris, but its higher fuel and servicing costs make it the most expensive Light car surveyed, costing $2,702 more per year than the Swift.

Small SUV: MG ZST Essence MY24

A change in methodology means many vehicles in this year’s report are higher specified than versions we have considered in other years.

In some cases, this is due to these being the more popular variant, in others because the manufacturer no longer offers the more basic model.

At $32,086 the well-equipped MG ZST is the most expensive variant in the Chinese car maker’s small SUV range, yet still sports a lower purchase price than its nearest category rivals the Mitsubishi ASX MR ($33,271) and GWM Haval Jolion Lux ($34,657).

It’s also less expensive than the most affordable hybrid, the GWM Haval Jolion Lux Hybrid ($40,467) and the only full battery-electric model the Hyundai Kona Electric N Line ($65,937). Despite these hybrid and EV rivals having much lower fuel costs, and in the case of the Hyundai servicing costs that are half those of the MG, their higher purchase price means they can’t make up the overall ownership cost ground lost to the MG ZST.

The purchase price spread in this nine-car category ranges between the MG ZST’s $32,086 and the Hyundai Kona EV’s $65,937 which converts to a difference in total ownership cost per annum of $6,055.

Medium SUV: Hyundai Tucson Hybrid N Line MY25

Medium SUV is one of the biggest selling and most competitive segments of the Australian new car market, with a bumper crop of 12 models analysed here.

It’s also the category with the highest number of EVs (six), hybrids (three) and PHEVs (one), with the relatively high price of these models pushing the average annual cost for Medium SUVs ($19,566) to above that of Large SUVs ($19,333).

The variation in vehicle sizes within the Medium SUV segment also prompted us to distinguish between smaller and larger vehicles by describing the latter as Upper Medium SUVs.

This sub-category of vehicles over 4.65m in length includes two variants each of the Mitsubishi Outlander and Tesla Model Y, and a single Nissan X-Trail.

The category average cost per year for these Upper Medium SUVs is about $1,000 higher than for other Medium SUVs.

The front-wheel drive hybrid-powered Hyundai Tucson in well-equipped N Line specification proved the most cost-effective Medium SUV to own and operate, despite the second-placed Mazda CX-5 Touring AWD having a $4,566 lower purchase price.

BYD’s Atto 3 Standard Range was fourth after the Toyota RAV4 Cruiser hybrid, making it the most affordable EV.

Large SUV: Subaru Outback AWD MY24

Emulating the efforts of the Penrith Panthers NRL premiership-winning side, it’s a four-peat for Subaru’s versatile Outback, which again tops the table as Australia’s most cost-effective Large SUV.

Admittedly, the high-riding  Subaru is fighting somewhat out of its weight division here against mostly bigger and burlier seven-seat SUVs and 4x4s, but we’re bound to follow the official industry classification.

At a time when prices have been spiralling skywards, the Subaru’s price has crept up a modest $1,680 in the intervening 12 months.

While the plush-riding Outback’s horizontally opposed four-cylinder engine is not especially economical, ranking third in terms of fuel expenses, the Subaru’s category victory is secured mostly on the back of its impressively low purchase price.

At $48,873 the Outback is one of only two sub-$50,000 contenders in a category where $50,000-plus is the norm, and where Toyota’s Kluger GX AWD Hybrid tops the price table at $67,025.
The $18,152 difference in purchase price between the Outback and Kluger blows out to a $25,270 cost differential at the end of five years.

Premium Light Commercial 4x4: LDV T60 Max Plus MY23

It’s well established that Aussies love their utes and it’s also increasingly the case that Aussies love their premium utes.

Where these vehicles were once purchased primarily for their utilitarian workhorse capabilities, many are these days doubling as alternative family cars, with pricing and features to match.

This market dynamic helps explain the introduction of our new category of Premium Light Commercial 4x4s, for which we had no trouble rounding up eight contenders from as many manufacturers.

Readers wanting to run the rule over more affordable 4x4 ute variants will find these in a separate category within the full report, along with a specific category for 4x2 utes.

In a sign of just how much impact Chinese car makers are having on this traditionally Japanese-dominated segment, the top two spots in the premium 4x4 ute segment are taken by LDV and GWM, with the GWM Cannon also topping the table in the non-premium 4x4 ute segment.

The LDV’s sharp $52,209 price tag sits $5,150 below the second-placed GWM Cannon and a sizeable $16,327 below the third-placed Mitsubishi Triton GSR, making it impossible for other rivals to better its ownership cost advantage.  

All Terrain: Mitsubishi Pajero Sport GLX 4x4

Mitsubishi’s Pajero Sport finds itself in familiar territory in 2024, parked on the top step of the podium in a segment that includes such rivals as the LandCruiser 300 Series and Nissan Patrol Ti.

The smaller and more affordable Pajero Sport leaps out to an unassailable lead against these heavyweight rivals, courtesy of its modest $55,825 price tag which is $38,679 less expensive than the Patrol and $47,366 below the LandCruiser.

The second-placed Isuzu MU-X LS-M is a better match for the Mitsubishi in terms of size, performance and pricing, but its annual running costs still end up being $1,709 higher.

For readers not necessarily needing the dual-range 4x4 capability of the Pajero Sport, it’s worth noting that the Subaru Outback offers all-wheel drive capability and more passenger-car like ride and handling at a lower purchase price, and costs $1,409 less per annum.

On the other hand, choosing the Pajero Sport over the least cost-effective Patrol saves $15,944 per annum, which buys 8,000 litres of diesel at our calculated average of $1.99/litre.

Given the Pajero Sport’s fuel consumption of 8.0L/100km, that’s 100,000km of motoring to consider.