Sales were affected by the supply chain constraints due to the new COVID-19 variant and the ongoing global semiconductor chip shortage.
MG Motor India sold 4721 units in March, the company said in a statement. Sales were affected by the supply chain constraints due to the new COVID-19 variant and the ongoing global semiconductor chip shortage. During the Jan to March quarter, the company launched an all-new version of its ZS EV.
It also said its product line up has seen momentum across the Astor, Hector and Gloster. The company’s best selling model continues to be the Hector with 2,000 units sold on average per month. Total sales for fiscal 2022 about 40,000 units.
MG Motor has been in the news as the company plans to set up an exclusive EV arm for which is looking to tap external investment. An evaluation exercise is currently in progress. The company will clearly tap the strengths of its Chinese parent , SAIC, when it sets up a facility but on that front it is still early days. The company has indicated that it is planning to launch an affordable EV in the Rs 15-20 lakh bracket.
RELATED ARTICLES
Tata Motors to supply 1,000 XPres-T EVs to OHM E Logistics, FY2023 biz nears 50,000 units
Twenty-one months after Tata Motors launched the fleet-only Xpres brand with a single product, the move is paying divide...
TVS Motor’s CSR arm to accelerate water conservation initiatives in rural India
Since 2017, Srinivasan Services Trust has undertaken 350 desilting projects, helping increase water storage by 160 crore...
MSMEs need to invest in R&D and build capacity to stay competitive: ACMA
ACMA’s ninth MSME Summit sees captains of industry debate opportunities and challenges; 65% of ACMA’s members belong to ...