Renault Australia reopens orders for exclusive EV with eye-watering price
Renault Australia has confirmed the first 500 examples of the wild new 5 Turbo 3E electric hot hatch sold out within the first 48 hours, and that it's therefore about to open orders for the next 500 examples.
Orders for the second allocation opened at 5:00pm AEST today (April 28). Renault will produce just 1980 examples in total of the 5 Turbo 3E globally, commemorating the launch year of the original 5 Turbo.
Renault says the first local customer deliveries are due in 2027, subject to homologation in each region.
Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. Supplied Credit: CarExpert
While Australian pricing has yet to be announced, on its global press site Renault has published provisional recommended launch pricing of €155,000 (A$275,595), with a reservation fee of €50,000 (A$88,870).
Australian pricing can't be determined with a simple currency conversion, as that doesn't take into account a five per cent import duty, 10 per cent Goods and Services Tax (GST), or Luxury Car Tax (LCT) of 33 per cent over the LCT threshold of $91,387.
Taking all this into account, the hot Renault EV is set to wear a price tag north of $300,000.
At that price it will usurp the $108,000 Megane R.S. Trophy-R Record Version from 2019 as the most expensive new Renault vehicle ever sold Down Under. Supplied Credit: CarExpert
'The interest in the Renault 5 Turbo 3E has been phenomenal and it shows the passion that exists for the Renault brand,' said Renault Australia general manager Glen Sealey.
'Once all 1980 vehicles are allocated globally there will be no more. This is an exclusive car, and an exclusive customer vetting process that Renault has never done before.
'The cars are being allocated on a first come, first served basis globally. So buyers in Australia have the same opportunity to secure a car as a buyer in Europe or anywhere else in the world.'
In short, these vehicles are being built to order, so you won't find them sitting on Renault Australia dealer lots.
Revealed in December, the 5 Turbo 3E is a modern take on the classic 1980s Renault 5 Turbo, a homologation special of the mass-market hatchback intended to win in the World Rally Championship. Supplied Credit: CarExpert
Unlike most performance variants of electric vehicles (EVs), Renault says the R5 Turbo 3E is built on a completely different platform to the Renault 5 E-Tech, allowing it to use in-wheel electric motors rather than the single front-mounted unit of its lesser sibling.
Renault previously said the 2022 Turbo 3E concept weighed just 980kg, with its 42kWh lithium-ion battery pack weighing 520kg, but it now says the production model won't weigh more than 1450kg. That would make it heavier than the standard electric 5 E-Tech.
Its battery has also expanded in capacity to 70kWh, with Renault targeting a driving range of up to 400km on the WLTP cycle and a DC fast-charging capacity of 350kW.
Powering the R5 Turbo 3E are a pair of electric motors, one housed inside each rear wheel, which Renault claims can produce up to 400kW and 4800Nm – though the latter figure is torque at the wheel, rather than the motor. Supplied Credit: CarExpert
The carmaker quotes a 0-100km/h acceleration time of 3.5 seconds, which is on par with the all-wheel drive Hyundai Ioniq 5 N. It will also feature a top speed of 270km/h.
Like the Ioniq 5 N, the 5 Turbo 3E employs an 800-volt electrical architecture.
Renault has made the most of putting the 5 Turbo 3E on a bespoke platform, with its dimensions being dramatically different from the 5 E-Tech.
Measuring 4.08m long, 2.03m wide and 1.38m tall, it's about 16cm longer, 23cm wider and 12cm lower than its sibling, while its wheelbase has also grown by 3cm to 2.57m. Supplied Credit: CarExpert
Its more aggressive stance is aided by a more aggressively sloped roof, while the 5 Turbo 3E also does without two of the 5 E-Tech's doors.
Under the wide wheel-arches sit 20-inch wheels, with the focus clearly on performance rather than efficiency.
This approach is evident with the grip-focused bodywork, designed to increase downforce rather than make the electric hatchback win a hypermiling competition.
Inside, a pair of racing-style bucket seats complete with six-point harnesses show the EV's intentions, as does the carbon-fibre trim. Supplied Credit: CarExpert
There's a 10.1-inch digital instrument cluster and a 10.25-inch infotainment touchscreen, while a vertical rally-style handbrake is arguably the greatest indication that this isn't a regular Renault.
Renault has only shown off the R5 Turbo 3E in its yellow, silver and black livery, but it says the electric hatchback will be available in 'a choice of exterior and interior colours'.
These include the gloss and light red Rouge Grenade finish of the original model, as well as some combinations inspired by previous racing liveries such as the factory-backed colours of the 1982 Tour de Corse.
With its unique platform and heady performance, the 5 Turbo 3E is a much more outlandish take on the revived Renault 5 than the Alpine A290 is.
Not yet confirmed for Australia, the A290 takes the standard Renault 5 and gives it a light restyling as well as up to 162kW of power – good for a 0-100km/h time of 7.4 seconds.
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A "comfortable" retirement includes top-level health insurance, a reasonable car and leisure activities. The cost of either outcome was increasing slower than Australia's current 2.4 per cent headline inflation but retiree budgets remained under pressure from rising food, energy and health costs. Couples on average need $73,900 annually for a comfortable retirement, while most singles needed $52,300 per year, ASFA says. For a modest retirement covering the basics, couples needed $48,200 each year, singles $33,400, or for renting couples, $64,250, and $46,660 each year for singles who rent. The figures underlined the importance of increasing Australia's housing stock, Ms Delahunty said. "They also illustrate how super can be the difference between hardship and stability later in life, especially for renters." For some workers, the extra contribution will come from their existing pay package, according to CPA Australia's superannuation lead Richard Webb. "It's a good idea to check with your employer to see how they view the changes and what it means for you," he said. Workers on contracts with a total remuneration package could see a slight drop in their take-home pay, while those on award or enterprise agreements would likely receive the contribution on-top of their current pay. When compulsory superannuation was introduced in 1992 - in part to reduce government spending on the Age Pension - only one in 10 Australian retirees listed super as a source of income. Nine in 10 people between 30 and 50 now have super. Government spending on the Age Pension is projected to fall from 2.3 per cent of gross domestic product in 2020 to two per cent by 2062/63, despite a doubling of the over-65 population and a trebling of over-85s over the same period. However the super guarantee increase wouldn't help those who missed out on paid work for extended periods, Super Consumer Australia chief executive Xavier O'Halloran said. "(For) people who have caring responsibilities or who have been locked out of the unaffordable housing market ... increasing SG further won't address those inequalities," he told AAP. Mr O'Halloran said there was more that could be done to support people struggling in retirement, when a significant portion of their autumnal years' savings were made. "Right now, there are no minimum standards for retirement products like there are for MySuper," he said. "There is also no performance testing of retirement products, so super funds can still sell poor products." Australian workers can look forward to a bigger nest egg, with an increase to the superannuation guarantee to add tens of thousands of dollars to the average super account. From July 1, employers' minimum required contribution to employees' superannuation accounts will rise from 11.5 per cent to 12 per cent. It's the latest and last in a series of incremental increases from nine per cent over more than a decade since they were legislated by the Rudd-Gillard Labor government in 2012. With the latest bump, a 30-year-old earning $60,000 would have an extra $20,000 in super by retirement, according to the Association of Superannuation Funds Australia. It will add about $300 each year to the superannuation of a worker on a $60,000 salary, or $500 for someone on a $100,000 salary. "The system foundations are cemented for young, working people to have a comfortable retirement," ASFA chief executive Mary Delahunty said. "It's a moment all Australians should be proud of." The association says the cost of a comfortable retirement increased 1.6 per cent in the past year, while the cost of a modest retirement rose 1.7 per cent. A "comfortable" retirement includes top-level health insurance, a reasonable car and leisure activities. The cost of either outcome was increasing slower than Australia's current 2.4 per cent headline inflation but retiree budgets remained under pressure from rising food, energy and health costs. Couples on average need $73,900 annually for a comfortable retirement, while most singles needed $52,300 per year, ASFA says. For a modest retirement covering the basics, couples needed $48,200 each year, singles $33,400, or for renting couples, $64,250, and $46,660 each year for singles who rent. The figures underlined the importance of increasing Australia's housing stock, Ms Delahunty said. "They also illustrate how super can be the difference between hardship and stability later in life, especially for renters." For some workers, the extra contribution will come from their existing pay package, according to CPA Australia's superannuation lead Richard Webb. "It's a good idea to check with your employer to see how they view the changes and what it means for you," he said. Workers on contracts with a total remuneration package could see a slight drop in their take-home pay, while those on award or enterprise agreements would likely receive the contribution on-top of their current pay. When compulsory superannuation was introduced in 1992 - in part to reduce government spending on the Age Pension - only one in 10 Australian retirees listed super as a source of income. Nine in 10 people between 30 and 50 now have super. Government spending on the Age Pension is projected to fall from 2.3 per cent of gross domestic product in 2020 to two per cent by 2062/63, despite a doubling of the over-65 population and a trebling of over-85s over the same period. However the super guarantee increase wouldn't help those who missed out on paid work for extended periods, Super Consumer Australia chief executive Xavier O'Halloran said. "(For) people who have caring responsibilities or who have been locked out of the unaffordable housing market ... increasing SG further won't address those inequalities," he told AAP. Mr O'Halloran said there was more that could be done to support people struggling in retirement, when a significant portion of their autumnal years' savings were made. "Right now, there are no minimum standards for retirement products like there are for MySuper," he said. "There is also no performance testing of retirement products, so super funds can still sell poor products." Australian workers can look forward to a bigger nest egg, with an increase to the superannuation guarantee to add tens of thousands of dollars to the average super account. From July 1, employers' minimum required contribution to employees' superannuation accounts will rise from 11.5 per cent to 12 per cent. It's the latest and last in a series of incremental increases from nine per cent over more than a decade since they were legislated by the Rudd-Gillard Labor government in 2012. With the latest bump, a 30-year-old earning $60,000 would have an extra $20,000 in super by retirement, according to the Association of Superannuation Funds Australia. It will add about $300 each year to the superannuation of a worker on a $60,000 salary, or $500 for someone on a $100,000 salary. "The system foundations are cemented for young, working people to have a comfortable retirement," ASFA chief executive Mary Delahunty said. "It's a moment all Australians should be proud of." The association says the cost of a comfortable retirement increased 1.6 per cent in the past year, while the cost of a modest retirement rose 1.7 per cent. A "comfortable" retirement includes top-level health insurance, a reasonable car and leisure activities. The cost of either outcome was increasing slower than Australia's current 2.4 per cent headline inflation but retiree budgets remained under pressure from rising food, energy and health costs. Couples on average need $73,900 annually for a comfortable retirement, while most singles needed $52,300 per year, ASFA says. For a modest retirement covering the basics, couples needed $48,200 each year, singles $33,400, or for renting couples, $64,250, and $46,660 each year for singles who rent. The figures underlined the importance of increasing Australia's housing stock, Ms Delahunty said. "They also illustrate how super can be the difference between hardship and stability later in life, especially for renters." For some workers, the extra contribution will come from their existing pay package, according to CPA Australia's superannuation lead Richard Webb. "It's a good idea to check with your employer to see how they view the changes and what it means for you," he said. Workers on contracts with a total remuneration package could see a slight drop in their take-home pay, while those on award or enterprise agreements would likely receive the contribution on-top of their current pay. When compulsory superannuation was introduced in 1992 - in part to reduce government spending on the Age Pension - only one in 10 Australian retirees listed super as a source of income. Nine in 10 people between 30 and 50 now have super. Government spending on the Age Pension is projected to fall from 2.3 per cent of gross domestic product in 2020 to two per cent by 2062/63, despite a doubling of the over-65 population and a trebling of over-85s over the same period. However the super guarantee increase wouldn't help those who missed out on paid work for extended periods, Super Consumer Australia chief executive Xavier O'Halloran said. "(For) people who have caring responsibilities or who have been locked out of the unaffordable housing market ... increasing SG further won't address those inequalities," he told AAP. Mr O'Halloran said there was more that could be done to support people struggling in retirement, when a significant portion of their autumnal years' savings were made. "Right now, there are no minimum standards for retirement products like there are for MySuper," he said. "There is also no performance testing of retirement products, so super funds can still sell poor products."
