GWM Ora 03 vs iCaur V23
Value retention, real cost and monthly money, compared on the same 2026 South African data.
The GWM Ora 03 wins on money kept: 54% retained after three years vs 48%, worth about R 91 716 at trade-in time.
Both curves, one chart
Head to head
| Ora 03 | V23 | |
|---|---|---|
| New price (from) | R 629 900 | R 519 900 |
| ±Monthly instalment | R 11 010/m | R 9 087/m |
| Retained after 1 year | 73% | 69% |
| Retained after 3 years | 54% | 48% |
| Value after 3 years | R 340 938 | R 249 222 |
| Lost to depreciation (3y) | R 288 962 | R 270 678 |
| Value after 5 years | R 244 592 | R 170 390 |
| Our tier | Chinese (established) | Chinese (new entrant) |
GWM Ora 03 →
GWM's retro-styled electric hatch went on sale in late 2023 and has sold in tiny numbers, with fewer than 100 units registered in its first three years. Launch pricing near R687k has been discounted to move stock. GWM plans to reboot the Ora line locally with the cheaper Ora 5, so the 03's future is uncertain.
Known for: retro styling and very slow sales
iCaur V23 →
A retro, Land Rover-flavoured electric compact SUV that launched the iCaur brand here in May 2026. The RWD costs R519,900 with a claimed 431 km NEDC range, while the AWD is R669,900. It sells on design and personalisation, and EV depreciation in SA remains steep across the board.
Known for: boxy retro styling and ev power
Common questions
Which holds value better, the GWM Ora 03 or the iCaur V23?
The GWM Ora 03. It keeps about 54% of its price after three years against 48% for the iCaur V23, a gap of 6 points.
Which is cheaper to own over three years?
Depreciation is the biggest ownership cost. The GWM Ora 03 loses about R 288 962 over three years and the iCaur V23 loses about R 270 678. Fuel, insurance and servicing can narrow or widen that, but the depreciation gap is the number to start from.
What do they cost per month?
On typical finance (10% deposit, 72 months, 11.75%), the GWM Ora 03 runs about R 11 010 per month and the iCaur V23 about R 9 087, before fees and insurance.
Keep going
Modelled estimates on a retail basis; spec levels and real transaction prices vary.