Price increase in January 2023

[normy]

The SE Trophy doesn't exist.

It was the Trophy - the one with longer range and heated seats etc

 

[wolf]

I wonder if a specification change will happen to help justify the price increase. Anybody in the know?

 

[FiferMG4]

I test drove an MG4 today. My local dealer is already doing the price increase - quoted £33k for SE trophy delivery c16 weeks.

The Trophy Long Range (arctic white) is still showing as £31,495.00 on MG’s website, so I’d bring that up with your dealer: All-New MG4 EV | Fully Electric Hatchback

 

[4ND]

I doubt whether the myriad of problems being discussed here has any measurable impact on sales.

No, they won't, given the miniscule number of people who frequent car specific internet forums.

 

[normy]

The Trophy Long Range (arctic white) is still showing as £31,495.00 on MG’s website, so I’d bring that up with your dealer: All-New MG4 EV | Fully Electric Hatchback

Yes I would have done if I was going to buy from them. But they didn’t have the Trophy in stock, it was c16 week delivery and ideally I wanted it sooner. I’ve found one elsewhere with immediate delivery at the price on the website.

 

[Ayoull]

I wonder if a specification change will happen to help justify the price increase. Anybody in the know?

Price increase will be justified via inflation and exchange rates

 

[Deleted member 10041]

The interest rate will rise next, MG have already raised it once back on the 1st October

 

[4ND]

You're probably right.
It's almost comical now how people will pay 8% or so APRs on cars. Even more so as many manufacturers have dropped or severely curtailed deposit contributions in tandem. Many people won't just by a £6K used car or so- what they can actually afford, but ride the PCP train into the sunset.

 

[psin]

Picked up my MG4 Trophy yesterday. Dealer told me that there would be a price increase of £1500 in the New Year.

 

[4ND]

Picked up my MG4 Trophy yesterday. Dealer told me that there would be a price increase of £1500 in the New Year.

For people either on the fence, or over the neighbour's garden now given reading about issue after issue after issue, I wonder if a £1.5K bump convinces them to get the 'bargin'

 

[Ayoull]

For people either on the fence, or over the neighbour's garden now given reading about issue after issue after issue, I wonder if a £1.5K bump convinces them to get the 'bargin'

It all depends how the others in the market move in relation as a price increase in January is the norm it seems for manufacturers

 

[Cocijo]

They can increase away, they still have to sell them. If orders continue prices will rise. At the moment dealers do not have to work too hard to secure orders.
Things are getting tighter for everyone, sales will be affected. If poor quality and reliability issues continue this will also affect sales.
As far as interest rates and PCP, most people don’t consider that the interest is paid on the full amount and for most on a £32k car they can end up paying north of £7k just in interest alone. PCP’s were indeed a master stroke for the car market, wish I had devised them…

 

[Deleted member 10041]

For people either on the fence, or over the neighbour's garden now given reading about issue after issue after issue, I wonder if a £1.5K bump convinces them to get the 'bargin'

If I wasn't bothered by the niggles I'd be definitely ordering now, I think the trophy is less attractive as a £32495 to a plus £33k, depending on paint, car

 

[4ND]

As far as interest rates and PCP, most people don’t consider that the interest is paid on the full amount and for most on a £32k car they can end up paying north of £7k just in interest alone. PCP’s were indeed a master stroke for the car market, wish I had devised them…

Agree with that. They look at how much is it a month, rather than sticker. I despise PCP.

 

[Lovemyev]

The way a lot of people pay for our cars today, has radically changed in the last 10 years.
A lot of people not really aware ( or bothered ) about the screen price of the new car or even what their present car is currently valued at to a certain extent.
In many cases, as long as the value pays the first down payment on the PCP is the big attraction here .
The potential PCP buyer, has a monthly budget figure in mind and the sales person then attempts to hit that target figure.
No backwards and forwards with prices anymore, hit the budget target and you have an easy sale.
PCP’s do work for some people, especially those who like to change their cars on a more frequent basis.
A bit like wanting the latest and greatest mobile phone model on a contract.
Rarely do people opt for making the ballon payment on these cars, favouring more to replacing them before the PCP term expires.
Because nobody saves to pay off the ballon.
Therefore you are now consolidating any previous outstanding balance onto the new car agreement.
What starts out on the first car, with a small or zero deposit and ONLY £199 per month, soon expands into a larger deposit and much much larger monthly payments, a few cars down the road.
You are now truly trapped onboard the PCP merry go round.
The PCP system can sometimes be accused of allowing people to drive much more expensive cars than they really can afford to buy.
Younger people tend to budget monthly for every single thing now.
Even down to buying a three piece suite and a fridge !.
In the U.K. we have totally bought into the American life style alright !.
Hey …… Each to their own I say !.

 

[Cocijo]

The way a lot of people pay for our cars today, has radically changed in the last 10 years.
A lot of people not really aware ( or bothered ) about the screen price of the new car or even what their present car is currently valued at to a certain extent.
In many cases, as long as the value pays the first down payment on the PCP is the big attraction here .
The potential PCP buyer, has a monthly budget figure in mind and the sales person then attempts to hit that target figure.
No backwards and forwards with prices anymore, hit the budget target and you have an easy sale.
PCP’s do work for some people, especially those who like to change their cars on a more frequent basis.
A bit like wanting the latest and greatest mobile phone model on a contract.
Rarely do people opt for making the ballon payment on these cars, favouring more to replacing them before the PCP term expires.
Because nobody saves to pay off the ballon.
Therefore you are now consolidating any previous outstanding balance onto the new car agreement.
What starts out on the first car, with a small or zero deposit and ONLY £199 per month, soon expands into a larger deposit and much much larger monthly payments, a few cars down the road.
You are now truly trapped onboard the PCP merry go round.
The PCP system can sometimes be accused of allowing people to drive much more expensive cars than they really can afford to buy.
Younger people tend to budget monthly for every single thing now.
Even down to buying a three piece suite and a fridge !.
In the U.K. we have totally bought into the American life style alright !.
Hey …… Each to their own I say !.

Yes, well described.
A PCP is by far the most popular way of getting into a new (and some used) cars.
It is worth considering when concessions are available but for example the MG PCP with no concession and APR 7.9% suddenly becomes much less attractive!

 

[troopercooper]

Just ordered Trophy today and the dealer confirmed that a price increase of at least £1000, but likely £1500 will be in effect from the new year. The APR is also rising from 7.9% to 9% minimum. The London dealer seemed busy and there didn't seem like any worry about shipments moving. I managed to get free floor-mats and a 3-pin connector that apparently isn't usually shipped with the car.

 

[Cocijo]

Likely £1500 now…

 

[Cocijo]

Just ordered Trophy today and the dealer confirmed that a price increase of at least £1000, but likely £1500 will be in effect from the new year. The APR is also rising from 7.9% to 9% minimum. The London dealer seemed busy and there didn't seem like any worry about shipments moving. I managed to get free floor-mats and a 3-pin connector that apparently isn't usually shipped with the car.

Do you get the standard 3 pin charger as part of the car?

 

[siteguru]

My car came with the 3-pin (granny ) charge cable.