MG Motor India sells 56,902 units in CY2023, EVs account for 25 percent sales

CY2023, which saw MG Motor India register 18% YoY growth, marks its fourth consecutive year of growth; sells 14,225 Comet and ZS EVs.

By Ajit Dalvi calendar 01 Jan 2024 Views icon2766 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
MG Motor India sells 56,902 units in CY2023, EVs account for 25 percent sales

MG Motor India has announced its retail sales figure for calendar year 2023: 56,902 units. This constitutes an 18% year-on-year increase (CY2022: 48,064 units) and marks the fourth consecutive year of growth for the company.

The company, which retails the Astor, Gloster, Hector 5-seater, Hector Plus SUVs and two EVs – the ZS EV and the Comet EV – is the second largest seller of EVs in India.

In the 12 months gone by, MG averaged monthly sales of 4,741 units, with its best month being March 2023 (6,051 units) and surpassing 5,000 units in May (5,006 units), June (5,125 units), July (5,012 units), September (5,003 units), October (5,108 units). The company has an internal plan to sell between 7,000 to 8,000 units a month. 

In CY2023, MG Motor India states that EVs accounted for 25% of total sales, which translates into wholesales of 14,225 units.  While it can be expected that the Comet EV, the most affordable electric car in India, would have witnessed sustained demand, MG Motor India’s move to slash the ZS EV’s price by up to Rs 230,000 in early October would have revved up demand for the zero-emission e-SUV. Prices for the MG ZS EV now start at Rs 22.88 lakh for the Excite variant and go up to Rs 25.90 lakh for the Exclusive Pro variant (ex-showroom, India).

Similarly, two other models – the Hector and Hector Plus – have also seen a significant cut in their prices: by up to Rs 129,000 for the Hector and by up to Rs 137,000 for the Hector Plus. The company cited a reduction in input costs and a streamline in the supply chain, and a part of its 100-year celebrations as reasons for the sizeable price cuts.

MG Motor India, which recently announced the strategic collaboration between SAIC Motor and India’s JSW Group, is aggressively expanding its charging network. The carmaker has partnered Charge Zone to jointly set up charging stations across key locations, including highways, cities, and MG dealerships.

On December 27, MG Motor India signed an MoU with Zeon Charging to boost the current EV charging infrastructure. The two companies will focus on strengthening the EV ecosystem at key locations covering highways, cities, and MG dealerships in Karnataka, Kerala, Andhra Pradesh, Telangana, Tamil Nadu and Maharashtra

MG customers will receive exclusive offers for charging at the Zeon kiosks. Zeon’s 300-plus AC and DC chargers in key locations will be added to MG’s current network of 12,000 chargers across India.

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