Stunned !

Edoc16

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Bannockburn Scotland
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Not an MG
Out of curiosity I tested the market for my 5 Exclusive against a another car and was told MG's not in demand and would have to lay off to MG who would underwrite at £16.6 k- I have 10k on the clock and its 22plate was told the EV market was on the downturn which I doubt but... still a shock with the MG vauation
 
Out of curiosity I tested the market for my 5 Exclusive against a another car and was told MG's not in demand and would have to lay off to MG who would underwrite at £16.6 k- I have 10k on the clock and its 22plate was told the EV market was on the downturn which I doubt but... still a shock with the MG vauation
Same here. It’s a real shocker.
 
Expensive finance and ample supply of preloved MGs(EVs in general) are to blame. You can expect the prices to stabilise once financing a car becomes cheaper
 
Out of curiosity I tested the market for my 5 Exclusive against a another car and was told MG's not in demand and would have to lay off to MG who would underwrite at £16.6 k- I have 10k on the clock and its 22plate was told the EV market was on the downturn which I doubt but... still a shock with the MG vauation
What was the car new? List price around £32k?
 
nope - 67 plate tesla 75d
I meant your MG5 - I was trying to understand how much it had depreciated and over what period. The issue at the moment is that dealers don’t really want stock - so they offer silly prices. If you look at what cars are actually advertised for it could be considerably more - this is more like what your car could fetch. Is it possible to buy a 22 plate mg5e with 10k miles for £16600? Add to that your MG5 will have taken the biggest part of the depreciation in the first year or so - so not a good time to offload
 
I meant your MG5 - I was trying to understand how much it had depreciated and over what period. The issue at the moment is that dealers don’t really want stock - so they offer silly prices. If you look at what cars are actually advertised for it could be considerably more - this is more like what your car could fetch. Is it possible to buy a 22 plate mg5e with 10k miles for £16600? Add to that your MG5 will have taken the biggest part of the depreciation in the first year or so - so not a good time to offload
definately not off loading - last guesstimate was 19k about 2 month ago :-(

just tried we buy any car and the value =

Your valuation​

£15,335

Getting worse ...
 
Any idea what your house is worth compared to a year ago? Some have gone down a lot more than that - but don't worry about it, there's nothing you can do and if everything has gone down the same then it doesn't really mean much,
 
Your right Smokie nothing we can do about it backend of last year I made around 3k on my first MG5 and purchased the new model MG5 Trophy, then a couple of weeks later Tesla cut there prices quite a lot so I decide I might go for one, thinking I would probably lose 2/3k on this new 5 few weeks old with around 1.5k on the clock, will it was going to be 9/10k lost no matter where I went, guess what still got the 5 and probably will have for a while to come now.
Les
 
I reckon the 5 will bounce back, more so the LR ones, it's the only affordable electric estate car available.
It's bound to catch on in the second hand market once more people start coming over from ICE cars.
The problem at the moment is dealers being overstocked due to their panic buying a few months ago is holding the price down, as soon as they've shifted their stock the values will come up.
 
I reckon the 5 will bounce back, more so the LR ones, it's the only affordable electric estate car available.

I don't think an estate is that much of a selling point these days. I only know one person with an estate (Seat Leon) and the boot seems bigger tha the 5.
Don't know about the face lift but when I tried to help my Mum move it was useless for furniture as the back seats don't lay flat. It had a reasonable capacity but not for large single items.
 
The seats go all but flat if you take out the seat base the part that you sit on, I think I can agree about the Leon as it based on the golf estate and so is the Skoda Octavia but they are Ice vehicles not EVs and may not be around much longer.
Les
Ps the face lift model is exactly the same size as the first ones in regards to the interior.
 
Between October last year and this March, my Cazoo valuation dropped from £26k to £12.5k inc mileage adjustments. Forget the cost of charging and if its cheaper than FF, with depreciation like this I wouldn't buy another.
 
So far I have owned a 22 plate LR exclusive and I currently own A 72 plate LR exclusive ,sold the 22 plate for the same as I purchased it and although all cars have definitely dropped a bit (as they should ) people should not panic as these cars are way better than any other car in its price bracket the price’s will even out but a good car will always be sort after condition and mileage depending. I also agree with the earlier comment that when people actually realise just how good the MG5 is there will be more of a following pushing the price up as supply and demand kicks in.
 
I don't think your thoughts will come to fruition tbh. Same as you, LR Exclusive albeit 71 plate and we do some miles so currently saving on fuel, but when you factor in the depreciation the TCO is horrendous and I think you'd have more chance of restarting Tutankhamun's heart than resurrecting the previous resale values.
 
I was told the drop mainly relates to the launch of the Trophy. Be interesting to know the drop on a year old ZS and MG4.
I got a price to replace my MG5 exclusive LR on a 22 plate for a 72 plate trophy demo said your car £18k and balance to pay would be 10k😂 said I would keep what I’ve got…. 5k May of been tempted.
 
Yee have little faith ! Who would have thought a 15-16 plate VW golf would make 16k when it should be 9-10k ! The fact is everything is supply and demand the MG5 is now taking over the Prius market for taxi’s so good low mileage cars will always be in demand ,I think the market has been flooded with EV’s but most buyers still can’t afford them hence the drop in sales ,but I believe this will filter out so hence why the demand will pick up.
 
All EVs are affected by the market drop in price. The MG5 I looked at were nearly all up in the 50-70k mileage so obviously were business cars/taxis. I suspect that the ordinary guy in the street just compare the price of electricity with diesel at the moment without digging into the type of deal we get with our electricity. If you were looking to go electric with a second hand car now really is the time. By October electricity prices will be down to 20p a kWh. The day ahead prices fell below 70p last week for the first time for 15 months and if we get some wind they will fall even more quickly. At the same time Octopus who had priced overnight electricity at 10.5p on some tariffs are now offering it at 7.5p again. If like me you follow the off shore construction of wind farms you will know that slow progress continues on Neart na Goithe off the coast north of Dunbar, SeaGreen 1 is nearing completion, it isn't clear hoe efficient they have been at getting power ashore, I don't think too good. There have been gaps in the strings of turbines, normally 6-8 are connected together and then to the offshore transformer to be linked to the shore but it looks as though less than half of the 116 turbines are producing power and it could be as low as 45. In which case in 6-8 weeks time we might see a leap of 800MW joined to the Grid. The latest news is that Jan de Nuul's new heavy lift vessel the Voltaire has reached the Dogger Bank A wind farm. Seabed to tippy top the ship is taller than the Eiffel tower and is installing 14MW turbines. It carries 8 at a time and whilst the lifts might take a bit longer the overall speed on the project will be fast with 8 turbines in place every 12-14 days. First power is expected at the end of June and the 76 turbines expected to be in place by the end of September. Dogger Bank B will follow immediately with another 76 turbines expected to be in place by January/February. These 4 wind farms have a total output of 4 GW. At the same time the Viking wind farm on Shetland will be completed and connected to the mainland by December adding a further 450 MW of power with an expected output of 70% of nameplate power.

Last winter the record 22GW of power was produced from wind farms. This coming winter we can expect 25-26 GW record to be broken. National Grid ESO have said that in 2026 they expect renewables and nuclear to be the only source of electricity for days at at a time. X-link, the wind and solar farm in Morocco should come on line in 2027. That will have a big battery to ensure that the 3.6GW output is continuous. So whilst we can expect the demand for electricity to rise, so far the rise has't had a big impact on generation, the price over last winter encouraged us all to be Scrooge like with our demand and I suspect that we will have got back in the habit of not wasting it!
 
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