I purchased a preferred plus CX-50 about a month ago over a CX-5 and wanted to add some of my though process and first month experiences.
For background, I was looking to replace my Charger R/T (which I loved) and get something more practical for a toddler. On paper, the CX-5 gets you far more features for your dollar. For about 2 grand more than I paid for my CX-50 I could have got a premium plus CX-5 and get all the features I really wanted - ventilated, memory seats, and HUD being the primary ones. After I had put my CX-50 deposit down I went and drove a premium plus CX-5 expecting to change deposit.
However, the back-to-back test drive convinced me to stay with the CX-50. I very much preferred the wider cabin of the CX-50, whereas the CX-5 felt comparatively narrow and tight. I'm 6'5" with a long torso so headroom is extremely important, and while the CX-5 had more headroom, the CX-50 still has plenty and is not an issue for me. The CX-50 backseat also has more legroom, and the deeper trunk seems to offer more usable space than the CX-5, even if total volume is smaller.
The CX-50 steering is much firmer and the ride felt more connected to the road. The CX-5 felt light and soft, almost disconnected, compared to the CX-50. I don't know how much the torsion beam suspension plays into that, but I think the discussion is far more nuanced than "torsion beam = cheap and bad." The CX-50 is still far more comfortable than the old Charger, so I'm happy with it.
Interior wise, the CX-50 feels cleaner and more modern to me even though they are functionally similar. I didn't like the stiff buttons and small commander knob on the CX-5, however I realize this is purely personal preference.
There are some CX-5 features that I wish were included in the CX-50. The split folding middle seat would be perfect for skis, its crazy its not in a car marketed for 'outdoorsy' types.
As far as my ownership experience is going, the CX-50 is definitely having teething issues. My own are documented in
this thread. Certainly disappointing, but not unexpected with a new model on a new assembly line.
I think if they work out these issues there's room for both vehicles. The CX-50 for those who want more of a wagon that isn't a Subaru and isn't at Audi Allroad prices, and the CX-5 for entry-luxury on-road crossover. For most buyers though, the current price disparity is going to be too much and will drive people to the CX-5 unless the value very specific characteristics like I do.