2022 MG5

[C6MFC]

You mentioned flooding the market. I'm not sure the relatively few MG5s that trickle into the country could possibly flood anything, especially as there hasn't been any SR for a while. Please don't tell those still awaiting news of their LR orders that they are out of production already. As for flooding the second hand market I don't think all the current owners will be selling all at once.

Not what I'm saying there will be plenty of LR already built/in supply chain so orders will be filled until they are all gone. The flooding will be relative and driven by those wanting to trade up to the facelift. There are plenty who will particularly those with the SR. Some may wait for Affinity to extend to the newest models across the board, as for that I wouldn't hold your breath I'd be very surprised if its still around past Easter this year. If they decide to realign prices again to make more models closer to the Gov Grant cap the cash for that will have to come from somewhere and my guess would be the closing/limiting of Affinity (to models they need to clear). As they can sell loads of cars without it if they can keep close to the Grant cap.

 

[Gordonread]

This site is handy if you want to avoid speculating about how many there are of any particular car in the country.... and can be a bit of a rabbit hole (how many of my dads Cortina Mk2 are still kicking around? Answer: 120, only one from 1968 and probably not his), they get their data from DVLA:

Search results for 'mg5' - How Many Left?

Search results for 'mg5'. See how many cars of any make and model are left on Britain's roads.

www.howmanyleft.co.uk

Given the number of cars in the UK there seems to be only about 3700 in total MG5's registered (as of the end of last September)

G

 

[Dt99idr]

This site is handy if you want to avoid speculating about how many there are of any particular car in the country.... and can be a bit of a rabbit hole (how many of my dads Cortina Mk2 are still kicking around? Answer: 120, only one from 1968 and probably not his), they get their data from DVLA:

Search results for 'mg5' - How Many Left?

Search results for 'mg5'. See how many cars of any make and model are left on Britain's roads.

www.howmanyleft.co.uk

Given the number of cars in the UK there seems to be only about 3700 in total MG5's registered (as of the end of last September)

G

Back in May 2531 were effected by the roof rail recall... https://www.check-vehicle-recalls.service.gov.uk/recall-type/vehicle/make/MG MOTOR/model/MG5EV EXCLUSIVE/year/2021/recalls

And 5803 by the kers recall https://www.check-vehicle-recalls.s...e/make/MG MOTOR/model/MG5EV/year/2021/recalls

 

[EVsince2016]

Met a MG5 in Monmouth & Tilehurst. Apparently lots in London as Ubers

 

[MonsterMonster]

I feel that there will be a very strong used market for these cars, especially lower milage models that haven't been used as Ubers, etc. Sure, everyone wants the latest and greatest model with all the bells and whistles, but the reality is people have a budget and a £15k second hand EV which is family friendly might be the ideal car for many. The same way that a £15k Toyota 'hybrid' doesn't hang around long on 2nd hand market, the MG5 is likely to be the new model for that demographic. More cities will get low emission zones, more people will want to move to EV when replacing their ICE cars, I can't see the market shrinking.

You can almost guarantee that a huge influx of newer, better models will impact current residuals - but it's not as if we're tripping over these cars just now. There are only a few thousand in the whole of the UK (I have no idea of the real number). Time will tell - I'm not too fussed either way, I'll keep this for 5 years or so and move to whatever brand/model is best suited to me at that stage.

I think you're on the right line of thinking. General second hand prices will be high for a while yet. The chip shortage is about to get worse so even fewer new cars. Give it a couple of years and there will be strong demand for used EVs further strengthening prices.

 

[PonteMG5]

Parked my MG5 next to another in retail park last week, was nice!

Chip shortage woes set to continue according to news article today which will likely keep used car prices higher for a while yet

 

[SiW80]

Met a MG5 in Monmouth & Tilehurst. Apparently lots in London as Ubers

Saw a few today around north London so could be true. Was surprised to see them!

 

[Ron61]

Lots of MG5's in Windsor, I've seen 3 black, 1 silver, 1 blue and a red plus my silver MG5. I parked at Tesco in Windsor to charge, 4 bays occupied by 2 Mg5's, MG ZS EV and an ID3.

 

[biffo]

It might be due to living 1 mile from an MG dealership - but I see a lot of ZS, but only a couple of EV models. Quite a few HS and the odd MG3. Seen a few MG5 kicking about - a white one locally, a black SR, a couple on the motorway nearby - and a nice red one belonging to another forum member.

I think the main thing that could crash 2nd hand value of current EV cars would be a generational shift in battery technology - such as battery cost halving or density doubling for example. I don't think areas such as charge rate or V2H/V2G would massively impact - but new cars offering more range for significantly less money would. Don't think that'll happen any time soon - very happy to be proved wrong though.

 

[Gomev]

Parked my MG5 next to another in retail park last week, was nice!

Chip shortage woes set to continue according to news article today which will likely keep used car prices higher for a while yet

You weren't in Leeds at the time were you ? I was collecting electrons in a small retail park last week when another MG5 came and parked next to me.

 

[PonteMG5]

You weren't in Leeds at the time were you ? I was collecting electrons in a small retail park last week when another MG5 came and parked next to me.

No I was in Pontefract and it was a standard red MG5. Looked nice parked side by side. Funnily enough was in Leeds other week and in car park looked round to find I had MG ZS to left, right and behind and it felt a bit like being parked on MG forecourt

 

[weedavemac]

It might be due to living 1 mile from an MG dealership - but I see a lot of ZS, but only a couple of EV models. Quite a few HS and the odd MG3. Seen a few MG5 kicking about - a white one locally, a black SR, a couple on the motorway nearby - and a nice red one belonging to another forum member.

I think the main thing that could crash 2nd hand value of current EV cars would be a generational shift in battery technology - such as battery cost halving or density doubling for example. I don't think areas such as charge rate or V2H/V2G would massively impact - but new cars offering more range for significantly less money would. Don't think that'll happen any time soon - very happy to be proved wrong though.

If the likes of BYD come to the UK with a cheaper EV with similar or better specifications then 2nd hand prices are going to take a tumble.

We are living in an artificial bubble right now re 2nd hand car prices. It won't last for ever.

 

[biffo]

If the likes of BYD come to the UK with a cheaper EV with similar or better specifications then 2nd hand prices are going to take a tumble.

We are living in an artificial bubble right now re 2nd hand car prices. It won't last for ever.

Yeah, no one should expected the depreciation curve of an EV to be any different to that of an ICE car - the situation just now is a bit of an outlier. Cheaper brands which end up being better in all respects will impact the market - but only if they can satisfy all the demand, otherwise people will choose what is available in the price range for the money they have - or wait the 6+ months they are just now for availability.

 

[Gomev]

If the likes of BYD come to the UK with a cheaper EV with similar or better specifications then 2nd hand prices are going to take a tumble.

We are living in an artificial bubble right now re 2nd hand car prices. It won't last for ever.

I am somewhat cynical that anything that starts out a lot cheaper elsewhere ends up not being a lot cheaper here.

 

[Biccys]

I am somewhat cynical that anything that starts out a lot cheaper elsewhere ends up not being a lot cheaper here.

You're right under normal circumstances, but the chip shortage has forced used process up ridiculously high as there are no new cars currently available. Price elasticity of demand and all that. Plus, add on the Affinity discount that we're seeing on the new ones that do arrive, lots of people are finding that upgrading is costing very little. I know if I went to WBAC with my MG5 LR, they'd give me very close to what I'll pay for it with the affinity, if not more. It's a bit sly of me, but I'm hoping the facelifted MG5 later this year will still be subject to the affinity so i can upgrade for minimal outlay. Yes it'll be more money and not as highly discounted (probably going to exceed the new PICG threshold I suspect,) but it's got all the things the current version is lacking to make it the perfect ev for me. It's worth that few thousand extra for that reason for me.

 

[weedavemac]

I am somewhat cynical that anything that starts out a lot cheaper elsewhere ends up not being a lot cheaper here.

That would probably be many many things in the UK

 

[sparkygoat]

We will, when all worldwide stock of LHD 5SR are sold (through MG UK) or tweaked to 5LR and sent to UK the only place in the world that has 5LR is on sale. Rest of world will go, or indeed have already gone from 5SR straight to 5 facelift.

Agreed. The new shape is quite anonymous.

 

[Gomev]

You're right under normal circumstances, but the chip shortage has forced used process up ridiculously high as there are no new cars currently available. Price elasticity of demand and all that. Plus, add on the Affinity discount that we're seeing on the new ones that do arrive, lots of people are finding that upgrading is costing very little. I know if I went to WBAC with my MG5 LR, they'd give me very close to what I'll pay for it with the affinity, if not more. It's a bit sly of me, but I'm hoping the facelifted MG5 later this year will still be subject to the affinity so i can upgrade for minimal outlay. Yes it'll be more money and not as highly discounted (probably going to exceed the new PICG threshold I suspect,) but it's got all the things the current version is lacking to make it the perfect ev for me. It's worth that few thousand extra for that reason for me.

I was referring to your assertation that BYD might bring cheaper EVs. They may be cheap in China but probably won't be here., that is my cynicism.

If the likes of BYD come to the UK with a cheaper EV with similar or better specifications then 2nd hand prices are going to take a tumble.

We are living in an artificial bubble right now re 2nd hand car prices. It won't last for ever.

 

[weedavemac]

I was referring to your assertation that BYD might bring cheaper EVs. They may be cheap in China but probably won't be here., that is my cynicism.

Roewe i5 is much cheaper in China than 'our' version. It is just the way it is.

 

[leebaker14]

Are there any rumours of UK release date for the 2022 MG5 EV yet? "Summer 22" is all I've seen.