1978 MG MGB Mk IV

2dr Roadster

4-cyl. 1798cc/95hp 2x1bbl

#1 Concours condition#1 Concours
#2 Excellent condition#2 Excellent
#3 Good condition#3 Good

$8,900 CAD*

-15.2%
#4 Fair condition#4 Fair
Value Graph01/2404/2407/24$2k$4k$6k$8k$10kOct 2024

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1975-1980 MG MGB stats
Highest sale
$71,285 CAD
Lowest sale
$889 CAD
Most recent sale
$10,913 CAD
Sales
581

Photos

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1979 MG MGB
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Protect your 1978 MG MGB from the unexpected for only $251 CAD per year**

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**Figure based on a stock 1978 MG MGB valued at $8,900 CAD with ON rates with $100/300K liability/UM/UIM limits. Actual costs vary depending on the coverage selected, vehicle condition, province and other factors. Hagerty determines final risk acceptance.

Model overview

Model description

Rubber bumper MGBs have been vilified by collectors for their looks and performance, but they have their fans and they’re still among the more popular classic sports cars out there. Designed for the 1975 model year, the Mk IV’s introduction was delayed. The molded polyurethane bumpers added 70 pounds weight and stretched the car 5 inches. They were designed to handle a 5 mph crash without deforming.

The 1975 MGB was also raised 1.5 inches to meet American bumper regulations. This led to considerable body roll and oversteer, neither of which you really want in a sports car. Bigger sway bars were fitted in 1976, but hard cornering now meant lifting an inside wheel. The positioning of the rear sway bar also meant the gas tank was reduced from 12 gallons to 11.

Under the hood, things weren’t encouraging, either. Emissions regulations mandated a catalytic converter, which was positioned below the single Stromberg carburetor that had replaced the twin SUs. The old small-valve cylinder head was exhumed and reduced horsepower to 62.5 bhp. The rear axle ratio was lowered to preserve some acceleration but top speed dwindled to 80-something, despite claims to the contrary. Overdrive was made standard in June 1975 and the GT was discontinued for the U.S.

A number of interior changes arrived in 1977, including a new dash and smaller 15-inch steering wheel. The steering ratio was increased from 3 turns lock-to-lock to 3.5 turns to make up for that. The heater received a two-speed fan and the knobs were replaced by more efficient controls. The overdrive switch was moved to the gear shift, like Triumphs and the pedals adjusted to permit heel-and-toe operation. Inertia reel seatbelts finally appeared. The MGB soldiered on through until 1980, with 14,428 sold that year. In fact, the 500,000th MGB was built in Abingdon in January 1980.

The discrepancy between the current values of rubber bumper MGBs and chrome bumper cars is fairly large, and it is common to restore a rubber bumper car to chrome bumper specifications. It is worth noting, however, that some changes to the later cars were actually improvements, at least in terms of comfort.

Available options on rubber bumper cars were hardtop, AM radio, AM/FM radio wood steering wheel and gearshift, electric clock and air-conditioning (dealer installed). Late cars tend to have most options, though wire wheels were not available and will have been retrofitted.

Later colors range from classic to quite outrageous, while most interiors are black, as are all the tops, but tan upholstery was available with some exterior colors.

The final series of 1,000 black Limited Edition roadsters feature wheels similar to the old

Vehicle specifications

  • Shipping Weight2338 lbs
  • Vehicle Length158.3 in
  • Wheelbase - Inches91.1 in
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Common Questions

The value of a 1978 MG MGB Mk IV can vary greatly depending on its condition, mileage, options, and history. Typically, you can expect to pay around $6,600 USD for a 1978 MG MGB Mk IV in good condition with average spec.

The highest selling price of a 1978 MG MGB Mk IV at auction over the last three years was $22,758 CAD. The highest prices are usually reserved for rare or exceptionally well-maintained examples with desirable features or modifications and excellent history.

The lowest selling price of a 1978 MG MGB Mk IV at auction over the last three years was $3,900 CAD. The lowest prices are usually paid for examples that have extensive maintenance needs, differ greatly from their original configuration, or have accident histories or title problems.

In the last three years there have been 26 1978 MG MGB Mk IVs sold at public auction.

The most recent auction sale of a 1978 MG MGB Mk IV was $18,410 CAD on September 27, 2024 by Collecting Cars.

Many factors can increase a car's value including excellent condition, exceptional originality, a recent restoration, low mileage, unique provenance, desirable options, popular or unique color choices, and excellent maintenance records. Upgrades and modifications that enhance performance or aesthetics can also add value.

Factors that can decrease a car's value include unusually high mileage, poor maintenance history, visible wear and tear, accidents or damage, title issues, and gaps in ownership history. Additionally, less popular color choices and extensive modifications that don't appeal to a broad audience can reduce value.

Mileage plays a significant role in a classic car’s value. Lower mileage usually increases value because it indicates a higher degree of originality, is rarer, and suggests less wear and tear. However, cars with exceptionally low mileage may also have maintenance needs due to lack of use. Whether someone should pay more for a vehicle with lower miles will depend on how they plan on using it, and the vehicle's specific condition.

The value of modified cars differs widely based on the type and quality of modifications. While some modifications can significantly increase value, especially performance enhancements and high-quality custom work, others may not add much or could even detract from the car’s value if they appeal to only a limited audience.

All prices shown here are representative of stock condition vehicles only and based on various data sources, as detailed in About Our Prices. Value adjustments for optional equipment are in U.S. dollars. More information on how forecast models are calculated can be found on Forecasted Values page. For additional information and a complete description of benefits, visit hagerty.CA/legal. Purchase of insurance not required for membership in HDC. Hagerty, Hagerty Valuation Tools & Hagerty Drivers Club are registered trademarks of the Hagerty Group LLC, ©2024 The Hagerty Group, LLC. All Rights Reserved.