Price increase in January 2023

I do feel now that MG are happy that they have established themselves firmly in the EV market place now and that the days of offering discounts and incentives on their cars, have become a thing of the past pretty.
When the Gen 1 ZS EV was first brought to the market, the grants where all still available.
The plug in grant was £3,500.00 and then at the time MG matched this to bring in more orders.
There was also free wall boxes being offered and then came the blue light discounts etc.
But as the grants fell away and demand / sales continued to climb, it became apparent to MG that people still wanted their cars, even without the incentives and at a more expensive screen price.
When the MG4 was released, they brought it to the market at reasonable price point.
Pretty sure it would be well received, they offered no incentives / discounts.
Demand has therefore resulted in a price increase in 2023.
Honestly, I cant see the introduction of any discount incentives for a while.
With a 3 - 4 month possible lead time on the MG 4 and a huge 18 month wait time on a less equipped more expensive new factory order for a Gen2 ZS EV then its hard to see where any discounts are gong to come from frankly 🤷‍♂️ .
While MG are able to under cut the other manufactures on a price to price basis, they will still take orders in the U.K.
Fully agree with you. Unless there is a huge financial market crash where sales begin to slump industry wide, it seems unlikely the MG4 will see any discounts for a while. There was a handful of others in the dealership when I was there on a week day also placing orders. The sales guy told us that it’s a very popular car and they’re selling very well.
 
All other manufacturers have upped their prices by way more than £1000 in recent months. SAIC / MG seem to be the only ones offering value at present.
Not all but a fair few big rises this year, Tesla, polestar, VW and Cupra all pretty big rises
 
The plethora of car reviews praising the MG4 must be like sweet music to MG. Nearly all the reviews mention how relatively cheap it is, almost encouraging MG to put the prices up!

At the moment the MG4 is a disruptor in the market, if the rave reviews and sales continue the prices will continue to increase.
The availability is also relatively good compared to other EV’s.
Just like Kia who started as a quaint budget brand and is now knocking on the premium door, MG would love to develop and get to that stage.
 
The plethora of car reviews praising the MG4 must be like sweet music to MG. Nearly all the reviews mention how relatively cheap it is, almost encouraging MG to put the prices up!

At the moment the MG4 is a disruptor in the market, if the rave reviews and sales continue the prices will continue to increase.
The availability is also relatively good compared to other EV’s.
Just like Kia who started as a quaint budget brand and is now knocking on the premium door, MG would love to develop and get to that stage.
They are all initial reviews at the minute, there is a huge amount of work to happen before they get out the budget brand sector.
Kia and Datsun/Nissan before them have proved that can certainly evolve, similar to Skoda but that also coincided with being taken over by VAG
 
Agreed - not least sorting out customer service and dealerships…
 
Have the Spain concessions also changed?
 
Something odd is going on with the MG PCP calculator on their website tonight. I've been looking at quotes for the long range model in black to see what effect the price rises have had on the monthly payments. It looks like it's added roughly £40 per month depending on your deposit, but, if you increase the annual mileage above 8,000 the monthly payment shoots right up, and the optional final payment drops from about £15,000 to about £7,000. Either MG are still tinkering with the figures or they have decided they really don't want people putting lots of mileage on these cars. At that rate, I might as well put 8,000 miles as my annual usage and just pay the excess charge of 14.9p per mile, which works out vastly cheaper than the increase in the monthly payment, even if I do several thousand miles above that.
 
That happened before I think it was a glitch that was eventually fixed, it was back in October, the last time they raised the Apr
 
Just checked if you go to to 6 and 7 it shoots up also, definitely a glitch.
£500 deposit £4000 pk, every mileage is £493 a month, 8000 miles is £364
 
I agree with a lot of the above and I admit that sometimes it can be useful. However, I suspect that the vast majority of people do it because they simply cannot afford to buy it outright but still want the shiny new thing.

I think most people here would think that it is a mistake to buy a 50' TV from Bright House, or whoever, on weekly payments instead of buying it outright. I see PCP in the same way.

If I didn't have a spare £32k cash available, I would be looking for something a lot cheaper instead.
We’re on PCP on our cars. They are pretty much the only thing we pay up. I wouldn’t finance a TV or other household item. But then I wouldn’t change my TV every 2-3 years either (unless it stopped working) but I would and do with my cars.

Not sure what the issue is people on this forum seem to have with PCP. If I was using savings I’d be driving around in a 5 year old Astra or worse and as someone who likes their cars, why would I want to do that? 🤷🏻‍♂️
 
We’re on PCP on our cars. They are pretty much the only thing we pay up. I wouldn’t finance a TV or other household item. But then I wouldn’t change my TV every 2-3 years either (unless it stopped working) but I would and do with my cars.

Not sure what the issue is people on this forum seem to have with PCP. If I was using savings I’d be driving around in a 5 year old Astra or worse and as someone who likes their cars, why would I want to do that? 🤷🏻‍♂️

Like most things, I think people are either ignorant or too quick to judge.

PCP with an APR rate or 7.9% @£32,000 over 4 years had an interest payment of ~£7000. If you're good with finances, its relatively easy to generate 10% through passive trading/investment. £32,000 over 4 years compounded is ~£47,000 (thats a £15,000 benefit). So if you do have plenty saved up but you know the interest is better held on the car, PCP is the way to go. Even with capital gains tax, you're still winning. The cherry on the top is that you can just pay the PCP in larger chucks to reduce the interest.
 
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Like most things, I think people are either ignorant or too quick to judge.

PCP with an APR rate or 7.9% @£32,000 over 4 years had an interest payment of ~£7000. If you're good with finances, you'd know that its relatively easy to generate 10% through passive trading/investment. £32,000 over 4 years compounded is ~£47,000 (thats a £15,000 benefit). So if you do have plenty saved up but you know the interest is better held on the car, PCP is the way to go. Even with capital gains tax, you're still winning. The cherry on the top is that you can just pay the PCP in larger chucks to reduce the interest.
Clearly I’m not particularly good or knowledgable with finances because I don’t understand what you just said! 🤣

Happy with going PCP to get the car I want though! 😀
 
Clearly I’m not particularly good or knowledgable with finances because I don’t understand what you just said! 🤣

Happy with going PCP to get the car I want though! 😀
I read it back and realised it came across abrasive sorry 😅 I've seen a few comments bashing finance options like PCP when in reality, it's actually a great tool to purchase a vehicle.
 
Like most things, I think people are either ignorant or too quick to judge.

PCP with an APR rate or 7.9% @£32,000 over 4 years had an interest payment of ~£7000. If you're good with finances, its relatively easy to generate 10% through passive trading/investment. £32,000 over 4 years compounded is ~£47,000 (thats a £15,000 benefit). So if you do have plenty saved up but you know the interest is better held on the car, PCP is the way to go. Even with capital gains tax, you're still winning. The cherry on the top is that you can just pay the PCP in larger chucks to reduce the interest.
Easy 10% returns, really? 7 or 8% maybe.

Wouldn't it be better to leverage your house instead at a much lower interest rate?

If you are willing to borrow money at 7.9% to invest in, I'm guessing, the stock market then you have a higher risk tolerance than I.
 
Easy 10% returns, really? 7 or 8% maybe.

Wouldn't it be better to leverage your house instead at a much lower interest rate?

If you are willing to borrow money at 7.9% to invest in, I'm guessing, the stock market then you have a higher risk tolerance than I.
Depends on your appetite but @7% I'd be bad at my job. Leveraging the house would be the fastest way to a scolding from the wife.
 

Are you enjoying your MG4?

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    Votes: 500 79.4%
  • I'm in the middle

    Votes: 84 13.3%
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