Motoring News Don't miss out on the headlines from Motoring News. Followed categories will be added to My News. Kia has slashed its sales forecast for the just-launched EV5 electric car amid cooling demand for electric cars and an intense ramp-up in competition.
Speaking at the launch of the crucial mid-sized SUV that has the Tesla Model Y in its crosshairs, Kia Australia chief executive Damien Meredith admitted once-ambitious plans to sell 10,000 EV5s a year had been halved to fewer than 5000. 2025 Kia EV5. Photo: Supplied He says it’s all about being realistic as many buyers remain wary of electric vehicles and the infrastructure that is crucial to keeping them running.
“We’ve got to be realistic with the market,” said Meredith of the dramatic slowing in growth of EV sales – and the general tightening of the new-car market. “We’ve got to set our sights on selling 400 (EV5s) a month. That’s going to be a challenge within itself.
” While mid-sized electric SUVs from Toyota, Ford, Subaru and Hyundai have hefty price tags on them, the EV5 sells from $56,770 drive-away . 2025 Kia EV5. Photo: Supplied That makes it cheaper than the Tesla Model Y that is the top selling EV in the country – and one of the most popular SUVs on the market.
It also undercuts rivals such as the Toyota bZ4X, Subaru Solterra and Ford Mustang Mach-E, each of which is selling in tiny numbers. It also positions the EV5 nicely against soon-to-arrive rivals including the Volkswagen ID. 4 an.