In a resounding success for MG Motor India, the past year 2023 concluded with remarkable 18.39 percent growth, reaching an impressive sales figure of 56,902 units. Surpassing expectations and adding 8,839 units more than the previous year, this achievement marks the fourth consecutive year of substantial growth for MG reinforcing its essential role in the Indian automotive industry.
Striking Sales Figures
In a demonstration of consistent upward trajectory, MG Motor's FY23 sales increased by 8,839 units, reaching new heights compared to the 2022 figure of 48,063 units. This substantial growth not only underscores MG's sustained success but also cements its status as a key player in the dynamic Indian automotive industry.
Power Duo: MG ZS and Comet's Triumph
Contributing significantly to MG's success story are the dynamic duo - MG ZS and Comet. In December 2023 alone, MG reported robust sales of 4,400 units, marking a substantial 12.85 percent increase from December 2022. This positive momentum characterized by a 5.92 percent month-on-month increase is a testament to the popularity of these models in the market.
EV Dominance
MG Motor's influence extends into the electric vehicle (EV) segment, with EV models accounting for 25 percent of total sales. This achievement confirms MG's position as the second-largest EV seller in India. The flagship models MG ZS and MG Comet have collectively achieved an impressive sales figure of approximately 20,000 units attesting to their popularity in the evolving automotive landscape.
December Dynamo: 13 Percent YoY Growth
December 2023 witnessed a remarkable 13 percent year-on-year growth in retail sales, aligning seamlessly with broader industry trends. MG's performance with 4,400 units sold compared to 3,899 units in December 2022 concludes the year on a high note and highlights its consistency and resilience in the market.
Sustained Growth for a Pioneering Force
As the automotive industry undergoes significant transformations, MG Motor India stands out as a pioneering force, with sustained and notable growth. The company's success in FY 2023 reinforces its position as an outstanding player contributing significantly to the overall growth and development of the industry.
In conclusion MG Motor India's journey in FY 2023 exemplifies not only consistent growth but also its commitment to innovation and excellence in the Indian automotive landscape.