Popular electric car now $8000 cheaper! 2024 BYD Atto 3 price slashed to severely undercut the Tesla Model Y SUV ... but there's a catch

BYD importer EV Direct has dropped the price on selected versions of the higher-grade Atto 3 crossover electric vehicle (EV).

Prices now start from just $45,990 drive-away for the Extended Range variant - excluding Western Australia (where it costs $2000 more) - down from $51,011 before on-road costs.

Even with the $600 metallic paint option applied, this makes the discounted Atto 3 Extended Range vehicles significantly cheaper than the Standard Range Atto 3 that kicks off from $48,011 before on-road costs.

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What’s the catch then?

The Atto 3s in question are pre-registered as MY23 demonstration vehicles, so likely do not have a whole year’s registration and full six-year/150,000km warranty in place. Their individual mileages are also unknown and may vary from vehicle to vehicle.

The campaign only applies to vehicles ordered and delivered by May 31, 2024, and how many examples are left in the country since the demo event began on April 22 has not been disclosed.

It’s also worth noting that an MY25 Atto 3 facelift is expected to be announced in the coming weeks, with improvements to range, an updated multimedia system and more. Reports out of China have suggested that this upgrade may also come with lower retail pricing than before.

The Tesla Model Y continues to be a target for BYD in its desire to dominate the EV scene in Australia.

We’ll have to wait to see about that.

So, how much money does the so-called “Attovation Demonstrator Event” save consumers compared to new non-campaign Atto 3 Extended Range equivalents? With varying taxes according to whichever state and territory you’re in, buyers can save more than $8000, or about 15 per cent off in some cases.

According to EV Direct CEO, David Smitherman, the demonstration sale highlights BYD’s desire to boost volumes in Australia by making EVs that buyers actually want more affordable.

The Atto 3 is expected to undergo a minor facelift for the MY25 model year, if reports out of China bear fruit.

“It is working really well, that's giving consumers an opportunity to get into an all-electric Atto 3 at a very attractive price the $45,000 drive-away,” he said.

“I think helps the cost of living and so that's a very good price proposition.”

The only cheaper EV SUV in Australia right now is the ageing MG ZS EV, which is now priced from $39,990 and $42,990 driveaway for the Excite and Essence respectively.

The MG ZS EV is Australia's cheapest EV SUV, but for how long?

To surpass the Atto 3 Extended Range’s 420km of claimed WLTP range, you’ll need the ZS EV Long Range from $46,990 drive-away, which ups the MG’s range from 380km to 440km.

To the end of March, BYD shifted 2220 Atto 3s, representing a modest rise of nearly six per cent year-on-year. In contrast, Tesla sold 6835 examples of the substantially more-expensive Model Y over the same period, and that’s up by a staggering 116 per cent.

That figure, by the way, is 544 units more than petrol-powered and electric MG ZS sales combined.