Not so “great news about your vehicle “

[CarlThom]

Not so good for you unfortunately.
But fantastic for the used car buyer.
Have to admit though still nowt like like a
Brand spanking new Motor. ??

But it's only brand spanking new until you drive it away. It drops 10% in value immediately as its then a used car. People in UK will only recognise it as new until the registrations update every six months.

 

[Kayged]

Not shocked at the idea of depreciation or that EVs are doing badly in general (Tesla slashing prices, negative press around fires and range etc etc), but percentage wise MG5 seems to have fared much worse than anything else. Book price was around £30k when new and now 2 years later you can pick one up with reasonable miles for less than £10k. I can’t see anything else that is currently doing so poorly

My local dealer is selling brand new ZS Trophy LRs with 25% discount (£26,612)

 

[salty]

But it's only brand spanking new until you drive it away. It drops 10% in value immediately as its then a used car. People in UK will only recognise it as new until the registrations update every six months.

Don't worry about that, Carl. It's still a great feeling picking your brand spanking new motor. And you being the first owner. I'm not worried what it loses as soon as i drive off, never have, if you did you'd never get a new one. And also not bothered what people think/don't think after 6 months. To be honest they probably don't give a monkeys. That's my way of thinking anyway. Although I do realise some folk do flap about depreciation. ???

 

[AndyNWuk]

My ZS EV Mk1 Exvlusive 2020 plate will be 4 years old in September. I only currently have 7600 miles on the clock and the current valuation on Motorway is £12,700. I am on a PCP contract so as there is going to be hardly any equity left by September, I feel it would be sensible to pay the balloon payment if £9,700 and keep the car which still has 3 years warranty left. I can then decide once the PCP is cleared when I want to sell and probably at a higher price than Motorway!

 

[Joe Boatman]

With time to spare and a little curiosity I decided go have a chat with my local MG dealer who told me that they had great news that my 71 plate Excite is much in demand due to the ongoing chip shortage and they could offer me something newer and lower mileage for the same monthly payment.
In short it’s not so in demand despite only just doing 9000 miles and being pristine inside and out.
It’s in negative equity by about £3k with the settlement on current finance. They wouldn’t give me the actual valuation (newbie sales guy who was back and forth with the manager), but I make it about £12k, which is about £2k more than WBAC, but also nearly £2k less than a 21 plate Excite in the same colour but more than double the mileage they have on their website at another branch.
Good job I love the car and I’m happy to keep it for now.
Just hope the value rises a little when the finance comes to an end.
Quick look on Autotrader and you get much older and higher mileage on an ICE car of similar value, don’t get why the MG especially has crashed so much in price?

I paid £26.5k in October 2022 for my used 2021 MG5 Exclusive without realising it has no Adaptive Cruise Control. Now, similar models on Autotrader are £16,000 - a depreciation of over £500 per month or over £6k per year. It's awful and I understand why you have negative equity in your car financing. I sympathise.

 

[nexia201]

WOW, 23,000 miles in 9 months. Taxi? ?

My mg4 cab has 46k miles in 13 months ?

 

[salty]

My mg4 cab has 46k miles in 13 months ?

WOW! That's a busy motor. ??

 

[Gomev]

I paid £26.5k in October 2022 for my used 2021 MG5 Exclusive without realising it has no Adaptive Cruise Control. Now, similar models on Autotrader are £16,000 - a depreciation of over £500 per month or over £6k per year. It's awful and I understand why you have negative equity in your car financing. I sympathise.

I noticed in another post that you said you had a 57kWh Exclusive which is the LR if you are quoting usable battery, otherwise it would have been 48kWh for SR.
My 71 plate MG5 Exclusive LR certainly did have Adaptive Cruise Control and I thought all the LR from introduction had it.

 

[Joe Boatman]

I noticed in another post that you said you had a 57kWh Exclusive which is the LR if you are quoting usable battery, otherwise it would have been 48kWh for SR.
My 71 plate MG5 Exclusive LR certainly did have Adaptive Cruise Control and I thought all the LR from introduction had it.

I think I'll call my car an MG5 SW long range. In terms of charging calculations, it seems the battery is about 60 kWh but I think the spec indicates 50 something. The EV database states 52.5 kWh. I've asked 2 garages to take the HV battery cover off so I can read the label (I want to know the capacity and type eg Lithium Ion) but neither accepted the challenge! Labels are not visible from the outside.

 

[MickeySw]

I think I'll call my car an MG5 SW long range. In terms of charging calculations, it seems the battery is about 60 kWh but I think the spec indicates 50 something. The EV database states 52.5 kWh. I've asked 2 garages to take the HV battery cover off so I can read the label (I want to know the capacity and type eg Lithium Ion) but neither accepted the challenge! Labels are not visible from the outside.

Actually there is a sticker on the battery pack’s left side just behind the front wheel…

 

[Joe Boatman]

Actually there is a sticker on the battery pack’s left side just behind the front wheel…

Thanks MickeySw. The only label I could find is near the front right side. A search for a 100 RES-020039 showed no results on Google!
Searching for "ATBS" showed me that SAIC agreed in 2009 that ATBS be the main supplier of EV batteries after linking with A123 - no luck there either.
Would you post a pic of anything useful on your MG5 battery?

 

[Joe Boatman]

Thanks MickeySw. The only label I could find is near the front right side. A search for a 100 RES-020039 showed no results on Google!
Searching for "ATBS" showed me that SAIC agreed in 2009 that ATBS be the main supplier of EV batteries after linking with A123 - no luck there either.
Would you post a pic of anything useful on your MG5 battery?

View attachment 26453

I can add to this having found a comprehensive label in front of the rear left wheel as shown below:

and since the chemical type is NCM, Lithium nickel manganese cobalt oxides, I can charge it to 100% many many times?

 

[Verdigris]

You can charge LFP (short range) batteries to 100% as much as you like but NMC is best only charged to 80%, unless you are going to use it for a long journey straight away. However, NMC should be slow charged to 100%, periodically, to allow for cell balancing.

 

[MickeySw]

You can charge LFP (short range) batteries to 100% as much as you like but NMC is best only charged to 80%, unless you are going to use it for a long journey straight away. However, NMC should be slow charged to 100%, periodically, to allow for cell balancing.

It’s been comprehensively proven by many EV owners that it’s perfectly fine to regularly charge an NMC battery to 100% without experiencing noticeable battery degradation.
By all means if you can do your driving with 80% of the ‘tank’ stick to the recommendations, however if your struggling (especially in winter) fill it to the ‘brim’, just don’t let it sit like this for weeks…

 

[johnb80]

I do apologise, I've edited the posting, it should have been 2022, sorry for any confusion.

youre still be over a little

 

[Deleted member 13103]

youre still be over a little

You could be right, we've a trip to Paignton planned for the end of September, but overall we've reduced our tripping generally, the 1st year saw 14,600 on the clock, just under the 1st service (15,000) recommendation, but we do come to G'boro a lot.

 

[MadaboutDana]

My father-in-law loves his MG5, which he bought as an ex-demo a couple of years ago. He’s a very experienced (ex-rally) driver, and bought the car primarily in response to London’s LEZ, but he regards it as an excellent buy, an excellent drive and a very satisfying statement. He’s not interested in the resale value.

While I keep an eye on the latest EV developments (and there’s some very tasty stuff coming out nowadays!), I’m very happy with our first-gen MG4 (despite lack of middle back-seat headrest and rear windscreen wiper!), and above all delighted by the fact that when I drive somewhere, I no longer feel that low-level guilt about the amount of crap I’m spewing into the atmosphere – because I’m not*. For me, that more than makes up for worrying about resale values.

* Apart from tyre particulates, of course – I look forward to the latest Michelin developments in this area.

 

[johnb80]

You could be right, we've a trip to Paignton planned for the end of September, but overall we've reduced our tripping generally, the 1st year saw 14,600 on the clock, just under the 1st service (15,000) recommendation, but we do come to G'boro a lot.

Come on over and have a coffee in the future I should have some charging spaces outside my shop, I can give you a few free electrons.

 

[DewiSant]

Might have something to do with MGs “outstanding” customer service; what good is a 7year warranty if the car spends most of that time out of action, waiting for diagnostic or parts?
Don’t get me wrong, I’m very happy with our MG5, it worked as expected right out of the box but given the experience of many, I’m dreading the day I require essential support from MG.

To be fair I find that this applies to most EV's and not specifically MG. My wife used to have a Corsa Electric and the service she had from Vauxhall was truly awful. My manager has a Mercedes EV and his car went back to the dealer 3 months after he received it (lost all drive) and took them 7 months to repair.

 

[johnb80]

To be fair I find that this applies to most EV's and not specifically MG. My wife used to have a Corsa Electric and the service she had from Vauxhall was truly awful. My manager has a Mercedes EV and his car went back to the dealer 3 months after he received it (lost all drive) and took them 7 months to repair.

I wouldnt agree. My BMW i3 is 7 years old, 95,000 miles on the clock and hasnt been off the road ever. Only a minor issue with drivers door window and that all. Our Mitsubishi Outlander PHEV did 190,000 miles over the 8 years of our ownership and again, no issues (not full EV but spent a lot of it's time running in EV mode). Tesla model Y 45,000 miles no issues at all.
The problems arise when their is an issue due to techincians not understanding the relatively simple control systems of an EV. It's a bit like taking an ICE vehicle to a body shop with the EML on for diagnosis.