GWM puts a price tag on new 3.0-litre diesel versions of the P500 bakkie and Tank 500 SUV

The new engine has a torque advantage over all non-hybrid rivals.

GWM is taking on the big guns in the South African bakkie market with a brand new 3.0-litre turbodiesel engine.

The Chinese carmaker announced pricing for the new 3.0-litre models, kicking off at R724,900 for the P500 Double Cab, and at R849,900 for the equivalent Tank 500 SUV.

Not only do these prices significantly undercut similarly powered rivals, like the Ford Ranger 3.0 V6 that starts at just over R1 million, but in the P500's case, the 3.0-litre model also costs R50,000 less than the previous 2.4-litre turbodiesel model.

The GWM P500 3.0 is priced from R724,900.