MG5 EV owners find out depreciation of car after it does 172,000 miles over 3 years and 5 month
Published on Jul 13, 2025 at 5:35 AM (UTC+4)
by Henry Kelsall
Last updated on Jul 08, 2025 at 7:56 PM (UTC+4)
Edited by
Emma Matthews
MG5 EV owners found out the depreciation of their car after it had driven 172,000 miles over three years and five months.
British YouTubers James and Kate – The EV Team have owned the MG5 for over three years and were interested in seeing how much its value had depreciated.
EV depreciation has been a hot talking point recently, as some models have seen their prices fall quite dramatically.
The video provides some interesting information on the value of an electric car over the years, compared to its as-new value.
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How much money did the MG5 EV owners lose?
The car was brand new in 2021, and over the last few years, it has had 172,000 miles put on the odometer.
When it was new, the car cost £24,555, which is roughly $33,355 in 2025.
Charging the MG over that time has cost over $8,000, and with various repairs, the total was £31,330.
That’s roughly the equivalent of $42,555.
YouTuber James then revealed he had sold the car, and what they got for the MG5 EV.
Incredibly, the sale price for the MG was £5,000 or $6,805.22.
That brought the total ownership cost down to £26,329.60, roughly $35,761.04.
From over $33,355 for the base price to just under $7,000 is a huge depreciation.
Why EV depreciation can be so big
That value dropped like a brick over a period of just under four years of ownership.
Why that is the case is quite fascinating.
Electric cars have suffered from depreciation, with lots of second-hand models available at reasonable prices.
Worries over battery degradation over time have caused some of those price drops.
Then there’s the fact that demand for electric cars, while slowly increasing, isn’t as high as manufacturers had hoped.
As such, there are some real bargains to be had on the second-hand electric car market.
Some tests have shown, though, that batteries don’t degrade as fast as some people might expect.
It is still quite a surprise to see just how much the value of this MG has dropped in under five years.
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Henry is a content writer with nearly ten years experience, having written for various publications since 2017. Qualifying with a Sports Journalism degree from Staffordshire University, Henry loves all things automotive but has a particular soft spot for classic Japanese cars and anything Lancia. He also has a curious passion for steam locomotives.
