Cupra Formentor PHEV slashed to $47,990 d/a

CUPRA has slashed the price of its Formentor VZe plug-in hybrid (PHEV) medium SUV by more than $20,000 with a $47,990 driveaway offer on model year 2024 run-out stock, down from $64,990 plus on-road costs for the standard model.

The Spanish performance brand’s aggressive price cut helps make up for the discontinuation of the federal government's Fringe Benefits Tax (FBT) exemption for PHEVs at the beginning of April this year.

A Nappa leather upholstery and 360-degree camera upgrade package (previously a $2800 option) is also thrown in, along with what would usually be $2150 worth of panoramic sunroof.

While acknowledging the end of the FBT exemption, Cupra said the initiative was a reflection of its commitment to keeping electrified mobility accessible as PHEVs continue to grow in popularity across Australia.

To the end of August this year, the Formentor accounted for 1013 of Cupra’s 1942 sales in Australia, up 38.2 per cent but well shy of the run-rate required to hit the 7000 units it once targeted for this year.

In a statement, Cupra Australia said the Formentor VZe run-out offer “delivers a European-designed, engineered and built crossover SUV with a complete focus on design, technology and dynamics, all for an incredible entry price with a high level of standard equipment”.

Claimed electric-only range is 50km on a single charge, contributing to an official combined-cycle fuel consumption rating of 1.9L/100km.

Standard equipment includes keyless entry and start, hands-free power tailgate, full LED headlights with Light Assist Auto High Beam, LED tail-lights with dynamic turn signal, heated leather-appointed steering wheel, tri-zone climate control and 10.25-inch Digital Cockpit.

Cupra also supplies the Formentor VZe with Mode 2 (regular household outlet) and Mode 3 (AC home or public charger) cables for topping up the battery.

The model also features a 12.0-inch infotainment system with navigation, wireless Apple CarPlay and Android Auto, wireless phone charging and DAB+ digital radio. The included leather and camera package adds Nappa leather interior with power-adjustable driver's seat and heating, while the panoramic sunroof is also included.

A turbocharged four-cylinder petrol engine combines with the electric motor to deliver 180kW and 400Nm to the front wheels through a six-speed dual wet clutch automatic transmission with paddle-shifters.

The Formentor VZe rides on 19-inch alloy wheels and adaptive suspension.

Safety equipment includes front and rear parking sensors with park assist, tyre pressure monitoring, auto emergency braking with pedestrian and cyclist detection, blind-spot monitoring with exit assist, driver fatigue monitor, emergency assist and semi-autonomous ‘travel assist’ tech incorporating adaptive cruise control and lane-keep assist.