MG Motor India sales up by 21% in H1 2023
The launch of Next-Gen variant of India’s first internet SUV-MG Hector in January, and demand for the company’s flagship EV-ZS, contributed significantly to the growth.
MG Motor India sold over 29,000 vehicles during the first half of 2023 in India, registering a 21% growth over 24,000 units sold during the same period a year earlier.
The launch of Next-Gen variant of India’s first internet SUV-MG Hector in January, and demand for the company’s flagship EV-ZS, contributed significantly to the growth. The brand also registered its highest retail sales of 6051 units in March 2023, it said in a statement on Thursday.
As per the company, a total of 115,000 vehicles were sold in the European market alone, which translates to a 143 % year-on-year increase, while MG's NEVs accounted for over 50 % of its total sales in the January-June period. Monthly deliveries of MG in Europe have exceeded 20,000 units in a row for four consecutive months, the company added.
MG Motor India recently announced its 5-year business roadmap to strengthen business operations for sustainable growth and meaningful impact on society in India. The British brand owned by China's largest automaker Shanghai Automotive, plans to invest US$ 100 million to expand capacity at its existing facility in Halol, Gujarat and expand its product portfolio in EVs. The company is planning to increase capacity from 1.2 lakh to 1.4-1.5 lakh units this year, through a debottlenecking exercise, which will fulfil its requirements for the next few years.
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