2026 MG S5 EV entry price rises $3,000 as Excite variants axed

Key takeaways

• 2026 MG S5 EV entry price rises $3000 to $41,990
• Excite 49 and Excite 62 variants axed for private buyers
• Essence trim now includes sunroof, 360 camera and 18-inch alloys

MG Australia has dropped the entry-level Excite variants from the 2026 MG S5 EV, pushing the small electric SUV's starting price up by $3,000. Private buyers are now left with two choices: the Essence 49 from $41,990 drive-away or the Essence 62 from $46,990 drive-away.

The move lands at the same time MG has introduced the new S6 EV mid-size electric SUV, which has also launched in Essence-only spec.

2026 MG S5 EV pricing

More kit, higher price of entry

The Essence trim picks up 18-inch alloy wheels in place of the previous black 17-inch units. Buyers also get a panoramic glass sunroof, a 360-degree camera, auto-folding electric door mirrors, rear privacy glass and a smart electric tailgate.

It's a meaningful kit upgrade for the $3,000 jump at the entry point and most of those features were near the top of the options wishlist for small EV buyers anyway.

MG is culling Excite variants across its EV range

The S5 EV isn't an outlier. MG's rear-wheel-drive MG 4 hatch has already dropped its Excite trim with the MY26 overhaul.

The new MG 4 Urban and the recently launched S6 EV have both arrived in flagship-only spec from day one. The pattern is clear. MG is tightening its EV range and pushing buyers towards better-equipped, higher-margin variants rather than chasing the cheapest possible sticker price.

The S5 EV has notched 1,173 sales year-to-date through April 2026, up 2.1% on the same period last year. The next few months will show whether buyers are willing to wear the $3000 price lift or shift their attention to cheaper rivals.

Frequently asked questions

How much is the 2026 MG S5 EV?

The 2026 MG S5 EV starts at $41,990 drive-away for the Essence 49, rising to $46,990 drive-away for the Essence 62 with the larger battery.

Why has MG dropped the S5 EV Excite variants?

MG has slimmed the S5 EV line-up to Essence-only for MY26, mirroring the same approach taken with the MG 4, MG 4 Urban and new S6 EV as the brand pushes buyers towards better-equipped variants.

What features come standard on the MG S5 EV Essence?

The Essence includes 18-inch alloy wheels, a panoramic glass sunroof, a 360-degree camera, auto-folding electric door mirrors, rear privacy glass and a smart electric tailgate.