Why are used MG7 cars so cheap?

[ReidLee]

MG7's five-year residual value rates in the used car market are currently 51.73%, 45.73%, 40.09%, 34.79%, and 29.81% respectively. According to statistics from the China Automobile Dealers Association, the average first-year residual value rate for domestic used cars is 70%, and the average third-year residual value rate is 60%. The MG7's first three years are below this average standard. Here is additional information: MG MG7: The MG MG7 is a slightly modified rebadged version of the Rover 75 prototype. As the main product tasked with impacting the official and business vehicle market, the MG7 can be considered the representative model in MG's entire product lineup that achieves the optimal balance in tuning all aspects of vehicle performance, fully demonstrating comprehensive parameter and performance advantages.