Read the bottle to see if it is compatible with Mercon V requirements. Castrol says that their Mercon LV is also compatible with Mercon VI but they don't have any other compatible uses for their Mercon V. It is best to use the correct type. A new trans is really expensive.
No. Mercon LV is a low viscosity fluid not meant for vehicles calling for Mercon V. And only use LV where vehicles call for it.
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