MG Motor India sales rise 21% in FY2023 to 48,866 units

MG Motor India has opened FY2024 on a good note by announcing its best-ever retail sales of 6,051 units in March 2023, a growth of 28% over the same month last year (March 2022: 4,721 units).

As per the company, the strengthening of semiconductor supplies through a number of localisation initiatives and the easing of logistical bottlenecks have been key factors in this achievement. This momentum is expected to sustain and improve in the near future as well.

Over the past 12 months, the company, which markets a total of five models – the Astor, Gloster, Hector 5-seater, Hector Plus and the ZS EV – has sold a total of 48,866 units, up 21% year on year (FY2022: 40,369 units).

This is also MG Motor India’s best-ever fiscal year sales since it began operations (see data table below) and cumulative sales till end-March 2023 are 148,786 units.

According to MG Motor India, Senior Director – Sales, Rakesh Sidana, “The next-gen MG Hector, India’s first internet SUV, maintains its strong uptake in the market and has recorded its second-highest lifetime sales, since its launch, in of March. Similarly, the ZS EV, India’s first pure electric Internet SUV, has been registering good traction across market segments.”

The company states that it is witnessing encouraging sentiment for all its models and demand for the Gloster SUV, launched in 2020, also remains strong. MG Motor India is now gearing up for the imminent launch of its forthcoming smart EV, the Comet.

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