The V8 final countdown: here's what's left that's still new and (somewhat) affordable

So, you want to buy a V8. Congratulations.

As brands such as Toyota, Jeep, RAM, Mercedes-Benz and Land Rover are preparing to replace their remaining V8s with smaller-capacity electrified engines or even pure electric powertrains, the choices are shrinking rapidly and you need to act fast.

Right now, Australia is down to just a handful of affordable V8 models, even if your budget stretches to around $150,000. Yet, 10 years ago, adjusted for inflation, there were about four times more to choose from.

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Of course, back in 2014, Australia still had full-vehicle manufacturing, offering V8 icons like the Holden Commodore SS and FPV GT. At the time, Tesla had barely even launched locally and Nissan’s original, pioneering Leaf electric vehicle was failing. The world was a different place.

Here, then, is what’s left with eight cylinders costing under $150,000 new (give or take) in Australia in 2024.

Even at over 0K, the Mustang Dark Horse seems reasonably priced for a V8 in 2024.

Ford FO Mustang – Australia's cheapest V8

Ford has announced the EcoBoost four-cylinder turbo version is returning to open the seventh-generation (FO) Mustang range from about $65,000, V8s will still dominate when sales commence later in 2024.

The overhauled Coyote V8 makes 347kW of power and 550Nm of torque in regular GT guise (from $77,002 – all prices are before on-road costs) and 349kW/548Nm for the Dark Horse flagship (from $103,002).

Better still, buyers will still be able to order a six-speed manual gearbox in lieu of a 10-speed auto, to keep the old-fashioned vibes going.

Celebrating its 60^th anniversary this month, the Mustang is the closest thing we have to a modern-day Falcon, and in fact the original grew from the 1959 original. For Aussies seeking a de-facto replacement for their beloved FPV, HSV or Chrysler 300 SRT8, this is as close as you’ll get.

The best news is that the Mustang is not likely to go away any time soon. With four distinct variants and two body styles (Fastback and Convertible), Dearborn won’t let V8 fans down just yet.

Australia's least-expensive V8-powered SUV is the ageing Nissan Y62 Patrol Ti.

Nissan Y62 Patrol – Australia's cheapest V8 SUV

Sadly, Yokohoma might let fans down, as time is running out for the ageing Y62 Patrol and its glorious 298kW/560Nm 5.6-litre V8 from $85K.

The next-gen version due soon will switch to a twin-turbo V6, and the stop-sale on the Toyota LandCruiser 70 Series V8 diesel is likely to stay permanent in Australia, 2024 might be the final year of the affordable-ish V8 SUV.

The next cheapest is the $156,381 Jaguar F-Pace SVR, with its 423kW/700Nm 5.0-litre powerhouse.

As an aside, a decade ago, Australians were spoilt for choice, with seven grades of Toyota J200 LandCruiser, four Jeep Grand Cherokees, three Patrols and a single Infiniti FX50, Mercedes-Benz ML and Volkswagen Touareg to pick from.

By the way, go for the Warrior if you’re contemplating plonking for a Patrol with its delicious side-exit exhaust howl. Or, better still, embrace the zeitgeist and go an Kia EV9. Sorry V8 diehards.

The RAM 1500 is currently Australia's cheapest V8 petrol-powered ute.

RAM DT 1500 – Australia's cheapest V8 ute

The truck formerly known as the Dodge Ram since 1981 to 2010 is now in its fifth generation in North America, but only second in Australia as a rebuilt (in Melbourne) left-to-right-hand drive full-sized ute.

Despite its size and lofty pricing, Ram sales have been strong since the previous-shape DS-series 1500 surfaced in 2018, with a hearty Hemi V8 central to the dual-cab pick-up’s appeal.

However, this famous engine’s days are numbered. Just facelifted abroad, the DT Series II Ram due in Australia in 2025 is said to switch to an all-new 3.0-litre twin-turbo inline six, to help meet increasingly strict emissions targets.

You know what this means: the existing 1500 Big Horn from $119,950 is your first port of call for a V8 ute nowadays (10 years ago it was a Holden VF SS from just $39,490 – we really didn’t realise how lucky we had it back then). The 1500 Big Horn is also your last chance if you want to experience the delights of Chrysler’s brawny 291kW/556Nm 5.7-litre Hemi V8.

We’d stretch to the $137,950 1500 Laramie that offers way more safety, features and luxury, and enjoy what’s probably the best full-sized ute on offer. RIP, Hemi.

The Chevy Silverado could end up being Australia's final new V8 ute left standing.

Chevrolet Silverado 1500 – soon to be Australia's only V8 ute?

Nipping at Ram’s heels is the Chevrolet Silverado 1500 from General Motors Specialty Vehicles (GMSV), rising from Holden’s ashes in 2020 as another US full-sized ute remanufactured in Australia.

Starting from $130,500, the LTZ Premium has another well-known engine beneath its big bonnet, in the shape of a Gen-V LS small block 313kW/624Nm 6.2-litre V8 dubbed L87.

And, you know what? GM’s V8 has had a reprieve, with the company announcing in 2023 a successor is under development as part of a $US854 million manufacturing plant upgrade, meaning that – once Ram drops the Hemi – Chevy will be alone with a V8. Remember, even though the Mustang V8 lives on, Ford’s F-Series truck uses a twin-turbo V6.

Above all these, there are about 30 more models still left over with V8s in Australia, but most are ultra-luxury SUVs and limos, sports cars or exotic supercars costing well north of $200K.

For V8 buyers with far more modest budgets, these four are it. For now. Get in quick.