Ferrari 296 vs MG Im5

What's the difference?

Anyone who says electrification somehow muddies the Ferrari formula is wrong. This plug-in Prancing Horse is among the most potent and direct vehicles I’ve ever driven, and the electric motor only adds to the experience.

The MG IM5 Performance is fast, comfortable, quiet and super refined. Putting some minor spec and active safety niggles to one side, it offers the features, tech and price to match it with its well-credentialled and already popular mid-size EV sedan competitors. Is there room for one more? We think there should be.

It is hard not to swoon when you gaze upon the 296 GTS, and I say that with no bias - I don’t think all Ferraris have looked this good.

But this is Ferrari at its dreamy, sweeping best, from the tarmac-kissing front — which generates so much downforce and cooling it negates the need for active aero — to its swollen haunches and the glass-topped engine window.

So what’s the difference between this and the GTB? Largely it is the ability to drop the folding roof, meaning you can feel the wind in your hair and that exhaust in your soul. To be honest, though, I reckon it looks better top up...

It’s a cockpit-style driver’s set-up inside, and there’s lots I love and some things I don’t. But let’s start with the steering wheel, which might be one of the best in existence.

It feels magic under the touch, as do the giant flappy paddles which remain fixed in place as you turn the wheel.

It’s also surprisingly comfortable in the figure-hugging sports seats, though climbing in and out of them is not necessarily something you want to do in front of a crowd.

Downsides? There is plenty of tech in the 296 cabin, but it’s all controlled from the steering wheel, making it fiddly and annoying to use.

Also, there are F1-levels of complexity on the control-everything steering wheel, and if I’m being honest, there are some buttons or switches, the function of which I still don’t fully understand.

Playing spot the straight line on the outside of the MG IM5 is like an automotive design version of Where’s Wally? There aren’t many, in the midst of an unrelentingly curvaceous exterior treatment.

At close to five metres long and two metres wide the IM5 is appreciably longer (+211mm), a little wider (+27mm) and a bit taller (+33mm) than a Tesla Model 3. Think BMW 5 Series in terms of overall size.

And the soft-form shape is functional; the swoopy liftback boasting an ultra-slick 0.24 drag coefficient.

That said, I’m not convinced by the ‘Periscopic’ cameras informing the driver assistance systems from the front guards. They scream tacked-on afterthought. But a touch-only initial opening function for the flush door handles is cool and makes life easier.

The curves continue inside with soft-padded surfaces around the dash and doors, but the straight edge obviously came out for the 10.5-inch central media screen and vast 26.3-inch upper display. There are next to no buttons; even exterior mirror adjustment is directed from the screen to a multi-function steering wheel control.

System software (powered by a Qualcomm ‘Snapdragon’ chip) is lightning fast with a two-finger up and down swipe shortcut function on the central screen for ventilation and other functions.

The interior is light and bright thanks to the enormous panoramic sunroof. It’s been fine in cooler winter conditions during this test but it could be interesting to revisit in the heat of an Aussie summer

There are two interior colour schemes available - the ‘Highland Grey’ of our test car or ‘Dover Beige’ for those brave enough to live life with the threat of scuff marks on your shiny new car’s glamorous but vulnerably light interior.

What do you want to know around practicality? We’re talking two seats, about 200 litres of cargo space total and a couple of smallish storage spaces in the cabin. And… that’s about it.

Next question, please.

There’s plenty of breathing room up front and in terms of storage one of the first things worth calling out are the long but relatively narrow door bins. No good for anything above unusually slender bottles, even if they’re lying down.

No conventional glove box in the dash, but there is a large lidded box (cooled and heated) between the seats that doubles as a centre armrest. It’s supplemented by a big stowage area underneath the flying buttress style centre console.  

There are two cupholders in the centre console as well as a wireless device charging pad in front of them with a vaguely phone-shaped oddments bin alongside it.  

Move to the rear and the IM5’s 75mm wheelbase advantage over the Tesla Model 3 is clear. Heaps of knee and headroom for me at 183cm sitting behind the driver’s seat set to my position. 

But… the seat sits low which pushes your knees up into the air to the point where my thighs are not contacting the seat cushion. Even though the rear seat reclines to a certain degree it’s a problem compounded by a chronic lack of room for your toes under the front seat. Awkward.

There are map pockets in the front seatbacks, modest bins in the doors and a fold-down centre armrest with two cupholders. Adjustable ventilation in the rear of the front centre console always makes life in the rear seat more pleasant.

The car also houses ‘Strong Magnets’ at various points around the cabin and boot, with a configurable adapter able to lock a phone or tablet into place for the entertainment of, in our case, back seaters. 

Speaking of devices for entertainment, there are two USB-C sockets and a 12-volt outlet in the front and another USB-C and 12V in the back, so charging isn’t an issue. 

The IM5 is a liftback so the boot aperture is generous and a capacity of 457 litres with the rear seats up is decent for a car of this size, although that’s less than the Tesla Model 3 (594L) which has an additional well under the floor. 

Still, enough room for the largest (124L) and smallest (36L) suitcases from the CarsGuide three-piece luggage set with some room to spare.

The power tailgate can be operated hands-free via the key or an always welcome under bumper kick function.

Volume expands to 1290 litres with the rear seats folded and there’s a modest 18-litre ‘frunk’ under the bonnet.

The bad news is a repair-inflator kit rather than a physical spare wheel, but the better news is the IM5 Performance can tow a 1500kg braked trailer (750kg unbraked).

The IM range also features the ‘MG iSmart’ app allowing remote control of various functions including charging, checking vehicle location and route planning. 

At $80,990, drive-away, the IM5 Performance sits at the top of a three-grade line-up that starts with a 75kWh RWD Premium model at $60,990, followed by a mid-spec 100kWh RWD Platinum for $69,990, both drive-away.

Its most prominent competitor is arguably the Tesla Model 3 Dual Motor AWD ($80,900), with others including the BYD Seal Performance AWD ($68,798), Hyundai Ioniq 6 AWD Epiq ($86,500) and Polestar 2 Long Range Dual Motor Performance ($80,380).

Worth noting, too, the IM6 range - essentially the same car with a taller SUV body - has the same model walk-up and identical pricing.

Once you’ve crossed the $80K threshold it’s fair to expect a decent basket of standard fruit and aside from the dynamic and safety features we’ll get to shortly, the IM5 Performance comes to the party.

Highlights include a double-glazed panoramic roof, power-adjustable (12-way driver, six-way passenger) heated and ventilated front seats (also heated in the rear), dual-zone climate control, 20-speaker audio (with digital radio), 256 colour ambient lighting, a power tailgate (with hands-free function) and 20-inch alloy rims.

There’s also adaptive cruise control, a heated steering wheel, wireless Android Auto and Apple CarPlay, LED headlights, keyless entry and start, wireless device charging (50W), a 10.5-inch central control screen and a sweeping 26.3-inch upper screen; the right side for instrumentation and car data, the (touch-sensitive) left side for multimedia and other onboard functions.

There’s more and it’s clear this car at least matches or betters its direct competitors for included equipment.

Now we're talking. The powertrain here is both tremendous and terrifying, pairing a 3.0-litre twin-turbo-petrol V6 with a rear mounted electric motor, and a 7.5kWh battery, to deliver a total 610kW and 740Nm. That power is fed through an eight-speed dual-clutch auto transmission.

Those are, frankly, scary numbers, and enough, Ferrari says, to dispatch 100km/h in just 2.9 seconds, and to push on to a top speed of 330km/h.

The MG IM5 Performance is powered by an electric motor on each axle - the rear (372kW/500Nm) more powerful than the front (200kW/300Nm), for overall outputs of 572kW (that’s close to 770hp) and 802Nm of pulling power.

The official term for that amount of grunt is… a lot. And we’ll get to what it means on the road in the Driving section shortly.

As well as the ability to start up and slink away silently, the Ferrari 296 GTS’s little battery will deliver a 25km EV-only driving range, and contribute to the overall claimed fuel use of just 6.5L/100km.

Charging is AC only, and the the brand reckons it takes around 90mins to top up using an 11kW charger. The self-charging is on-point, though, with the Ferrari able to quickly recoup energy from braking and the like to top up the battery without needing to plug in.

The MG IM5 Performance features an 800-volt electrical architecture which means the 100kWh NCM battery can accept a DC peak charge of close to 400kW.

Only snag is the highest you’ll currently find in Australia is 350kW. But even at that rate you’ll still be looking at a 30-80 per cent charge in just over 15 minutes. Maximum AC charge rate is 11kW.

Claimed range is 575km (WLTP) which is less than the Tesla Model 3 Dual Motor AWD at 629km.

Over a week of city, suburban and some freeway running we saw average energy use of 20.6kWh/100km which is on the high side for an EV of this size but maybe not for one with this kind of performance potential. 

The engine is undoubtedly a highlight, and we’ll get to that in a moment, but I first want to talk about the steering in this car.

It might sound like a weird point to get hung up on, but it is sensational, and maybe the best I’ve ever experienced. Generally speaking, super-responsive steering can risk feeling overly sharp and uncomfortable when cruising, but somehow the 296 manages to feel super natural, super responsive, and super engaging, without every feeling sharp or darty. It’s just predictable, responsive, and spectacular. 

Honestly, it is a highlight of a drive experience filled with highlights, with another being the dual-nature of this drop-top supercar. Long before I got anywhere near a twisting road I needed to navigate the usual nightmare that is Sydney, tackling traffic, suburbia, freeways, tunnels and expansion joints galore, and the 296 never felt uncomfortable.

Instead, the 296 slipped into a comfortable kind of lope, never jarring or rough, and eminently easy to get along with. And yet, when you arrive on the right road that veil of sensibility drops, and the Ferrari quickly reminds you of its potential.

For a start, the acceleration is properly, startlingly aggressive. Engage the 'Qualification' drive mode (which unlocks the full might of the Ferrari's electrified powertrain) and flatten your right foot, and you'll find the world suddenly hurtling past your windows, and your knuckles will no doubt whiten as you feel the rear tyres fighting for traction against the onslaught should you try it on anything but the straightest of roads. 

It's addictive, but it's just one element of a near-perfect combination on offer here, with the 296 GTS the stiffest Ferrari drop-top to date, which becomes immediately clear as you start to attack corners with ever-growing confidence.

Grip, stability and stiffness in spades, the GTS delivers. And all accompanied by an exhaust howl so angry and evil it’s hard to believe it’s being generated by a V6.

It’s a thing of very near perfection.

First things first, the IM5 Performance is supercar fast. This 2.3-tonne five-seater blazes from 0-100km/h 3.2 seconds and with its dual motors combining to produce 572kW/802Nm, eye-widening performance always resides underneath your right foot.

But it’s not all about straight line speed. Ride comfort is excellent. Underpinned by an all-new platform, the IM5’s suspension is by double wishbones at the front and multi-links at the rear. But the key to its bump and rut smoothing ability is air suspension and ‘continuous control’ active damping.

Fold in double-glazing on the full-length glass roof and side windows, as well as active noise cancellation and you have a serene interior environment at any speed. Also worth noting the front seats are great; as grippy as they are comfortable.

Not only that, despite its relative heft, this mid-sizer steers well, too. Not the last word in road feel but it points accurately and the standard rear steering helps with prompt (but never jerky) cornering turn-in. Flick to ‘Sport’ mode and the IM5 is up for some enthusiastic running.

The rear wheels can turn up to 12 degrees in the opposite direction to the fronts at slow speed, which makes for a usefully tight 10-metre turning circle. But above that, at lesser angles, it adds extra stability and decisiveness in the way the car steers through even tight, twisty sections.

Rubber is top-shelf Pirelli P Zeros on 20-inch alloys (245/40 fr - 275/35 rr) and it grips hard, especially in the wet weather over much of the test period. Braking is solid, as it needs to be, with ventilated discs all around and four-piston callipers at the front. 

No adjustable regen braking but you can feel the ‘Cooperative Regenerative Brake System’ (CRBS) doing its thing when you lift off the accelerator. 

The physical rear view is modest thanks to the slope of the back window reducing its functional area for the driver to that of a 1950s VW Beetle. Even the interior rear-view mirror is tiny and folds up into a recess in the headliner if you’d prefer life without it.

But that’s where a rear camera view popping up on the upper screen display (accessed via the right-hand steering wheel click control) comes in handy. Side camera views are also available as is a 360-degree overhead view, which makes parking straightforward.

If you need more parking help there are various self-parking modes including a nifty ‘Curbside’ function that will realign the car hands-free if you’re parallel parked too far out from the kerb.

In a similar vein, a ‘Rainy Night’ mode projects left and right rear views onto the main screen using AI to enhance clarity and highlight pedestrians and cars.

Overall the ADAS (Advanced Driver Assistance Systems) are relatively unobtrusive but we found ourselves switching off the incessant overspeed chime that sounds for 10 seconds if you creep over the indicated speed limit, even when the system has misfired on the correct speed. For example, 40km/h school zones on a Sunday.

The over-zealous driver distraction warning also occasionally issued a visual and audible slap on the wrist when I was looking straight ahead. Tellingly, there’s a specific quick screen for turning both these functions off, but it kinda defeats the purpose of having them in the first place.

We also found the adaptive cruise control to be hesitant in multi-lane environments, reducing speed occasionally because the system seemingly believed a car was set to merge, when it wasn’t.

No independent ANCAP safety assessment at this point but there’s a full suite of active safety tech onboard including AEB, lane departure warning, blind spot detection, rear cross-traffic alert & braking, forward collision warning, lane-change assist, tyre pressure monitoring and heaps more. And we touch on how it all operates in the Driving section above.

There are no less than nine HD cameras, 12 ultrasonic sensors and three millimetre-wave radars on duty.

If a crash is unavoidable there are seven airbags including full-length side curtains and a front centre bag. Multi-collision brake also minimises the chances of subsequent impacts after an initial crash. There are also three top tether points and three ISOFIX child seats anchors across the second row.

All right on the pace for this part of the market and the IM5’s competitive set.

Standard is a three year warranty, but you can extend that for up to five years. Then, if your car has less than 90,000km on the clock, you can opt into the 'New Power15', which gives you up to 15 years total warranty coverage and is fully transferable.

The first seven years scheduled maintenance is free-of-charge.

The MG IM5 Performance is covered by a seven-year/unlimited km warranty, which is a plus, but the catch is it’s conditional on authorised dealer servicing. Go elsewhere and the term drops to a more common five years/unlimited km. The drive battery is covered for eight years/160,000km, which is the norm in the Aussie market

Servicing is required every 12 months or 20,000km with charges averaging $586 per workshop visit for the first five years, which is on the high side for an EV, even at this price point, the average bumped up by a more than $1400 doozy at year four.

MG IM models are sold (with service available) through all of MG’s 100-plus dealerships across the country, so no concerns there.