RACV reveals most affordable SUVs for 2026 and highlights surge in EV interest

RACV has released a comprehensive guide for the most affordable SUVs in Australia for 2026 as the segment continues its dramatic growth trajectory to become the dominant force in the automotive market, with 61 per cent market share, with 757,000 sold in 2025 – a 7.5 per cent increase from 2024.

RACV Motoring Editor Andrea Matthews said this shows the Australian automotive landscape has fundamentally changed in recent years and said that in recent weeks, RACV has seen an increased interest in electric vehicles (EVs).

“From 28 February to 11 March, RACV Car Match has seen a 190 per cent increase in EV fuel type searches in comparison to the two weeks prior,” Ms Matthews said.

“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. 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.”

SUVs now outsell traditional passenger vehicles by more than 4 to 1, with strong competition among manufacturers delivering increasingly affordable options across all segments.

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

“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.

“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.”

Most affordable SUVs for 2026

RACV's analysis identifies the best value SUVs across multiple categories, with prices based on estimated drive-away costs in Victoria:

Cheapest new SUVs under $30K:

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

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

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

2.     (eq.) 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.    (eq.) Chery C5 small SUV – from $29,990 drive-away

8.    (eq.) Chery Tiggo 7 medium SUV – from $29,990 drive-away

8.    (eq.) Kia Stonic compact SUV – from $29,990 drive-away

8.    (eq.) 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

Full details on the cheapest new SUVs in the major segments – compact, small, medium, large (seven-seat) and 4x4 off-roaders – and also listed the most affordable hybrid (including PHEV) and EV models can be viewed on the RACV website via RACV Car Match.

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