Toyota has unexpectedly slashed prices on its bZ4X electric SUV by up to $10,000, despite a recent overhaul that included increased power, longer range, and more standard features. This move follows similar cuts by Subaru on its Solterra, the bZ4X’s twin model.
Price Reductions & New Features
The base, front-wheel-drive bZ4X now starts at $55,990 (before on-road costs), down from $66,000. The all-wheel-drive version is now $67,990, a decrease of $6,910. This price reduction is notable because it accompanies significant upgrades, including a new 74.7 kWh battery for both versions and more powerful electric motors.
The updated model also boasts a doubled towing capacity for the AWD variant (up to 1500kg), revised exterior styling with Toyota’s latest design language, and upgraded interior features. These include a larger 14-inch infotainment screen, paddle shifters, dual wireless chargers, a heated steering wheel, a power tailgate, and a 1500W inverter. Safety enhancements such as blind-spot monitoring and rear cross-traffic alert are now standard across the range.
Market Context & Sales Performance
Toyota’s decision is a stark reversal from its previous stance against price cuts. In July 2024, the company stated it had no plans to lower prices despite sluggish sales. Earlier, in August 2023, Toyota projected thousands of bZ4X sales in 2024 but later revised the target down to 1,500 units. The company ultimately delivered only 977 vehicles in 2024.
Toyota Australia’s vice president of sales, Sean Hanley, previously dismissed price cuts as a “lazy option” that erodes trust and advocated for building confidence through education instead. However, the current price adjustments suggest a change in strategy, likely driven by the need to boost sales in a competitive EV market.
Incentives and Future Models
To further encourage purchases, Toyota is offering private buyers either a free 7kW Jet Charge home charger or a Chargefox voucher worth 625 kWh through its loyalty program until the end of 2026. Additionally, Toyota Finance Australia is providing deposit contributions of $5,000 for the 2WD model and $7,500 for the AWD version.
Looking ahead, Toyota plans to introduce the bZ4X Touring, a more traditional wagon variant, in the second quarter of 2026. Subaru’s version, the Trailseeker, remains unconfirmed for the Australian market.
The abrupt price cuts and added incentives highlight the challenges Toyota faces in gaining market share in the EV sector. The company’s initial resistance to discounts, followed by a drastic shift, underscores the evolving dynamics of the electric vehicle industry and the pressures on automakers to adapt to changing consumer demands.
