Hybrid SUV now $20,000 cheaper

There is a new cut-price plug-in hybrid in town.

Cupra has slashed nearly $20,000 off the price of its Formentor VZe plug-in hybrid SUV.

It is now priced at $47,990, drive-away, down from $64,990, before on-road costs, but it only applies to 2024 model year vehicles.

The move is designed to help clear old stock as new versions of the Formentor VZe arrive. Cupra also said the discount is designed to plug the gap left by the federal government’s now defunct Fringe Benefits Tax Exemption of plug-in hybrid cars.

The removal of the tax exemption has seen sales of plug-in hybrid slide after peaking earlier this year.

Even BYD has applied discounts to its popular Shark 6 ute to stimulate sales.

The Formentor VZe pairs a 1.4-litre four-cylinder turbo-petrol engine with an electric motor to make a combined 180kW and 400Nm. This is matched to a six-speed dual-clutch automatic transmission driving the front wheels.

It has a circa-11kWh battery that delivers an electric-only driving range of about 50km.

It can be driven in multiple modes: electric only, conventional hybrid and petrol power.

Combined fuel use is 1.9L/100km. As with all plug-in hybrids that figure is hard to hit as it requires a full battery, and once the battery is depleted it relies solely on the petrol engine, which results in significantly higher fuel use.

There is a decent amount of kit included as standard.

It rides on 19-inch alloy wheels, has adaptive suspension and LED lighting front and back.

Inside there is a 10.25-inch digital cockpit and a 12-inch multimedia display that is compatible with wireless Apple CarPlay and Android Auto, wireless device charger and tri-zone air con.

Power adjustable and heated front seats are wrapped in supple Nappa leather and a panoramic sunroof is included.

There is a good amount of safety tech included, with all the major boxes ticked.

The new version, due soon, boosts its capabilities significantly.

It brings refreshed styling and interior fit out.

A bigger circa-19kWh battery boosts driving range to about 100km. It will be able to accept DC charging up to 50kW. AC charging has been boosted from 3.6kW in the current version to 11kW.