Mumbai, November 2, 2023 – MG Motor India has yet again showcased its growing prominence in the Indian automotive market by recording impressive retail sales figures for the month of October 2023. The British automaker announced that it successfully retailed a total of 5,108 units in the domestic market during this period, signifying a remarkable 17 percent year-on-year growth.
EVs Propel MG's Success
What makes this achievement even more noteworthy is the substantial contribution of electric vehicles (EVs) to MG's overall sales. Approximately 25 percent of the brand's total sales are attributed to electric vehicles, underlining the increasing acceptance and popularity of eco-friendly mobility solutions in India.
Attractive Customer Offers
MG Motor India attributes its recent success to a combination of factors, including its centenary celebrations and enticing customer offers across its diverse model range. These attractive customer offers have resonated with buyers and have contributed to the brand's robust sales performance.
Price Hike for Select MG Models
In line with industry trends and market dynamics, MG Motor India recently announced price hikes for select models, which came into effect on November 1, 2023. Models such as the Hector and Hector Plus have witnessed price increases of up to Rs. 40,000. Despite these price adjustments, MG's strong sales performance indicates the brand's continued appeal and value proposition in the Indian automotive market.
Embracing the EV Revolution
The fact that EVs now constitute a significant portion of MG's sales reflects the changing automotive landscape in India. Buyers are increasingly recognizing the benefits of electric mobility, including lower operating costs, reduced environmental impact, and a seamless driving experience. MG's commitment to promoting electric vehicles and providing attractive offerings in this segment has certainly struck a chord with consumers.
MG Motor India's ability to adapt to evolving market dynamics and continue to achieve robust sales growth underscores its role as a key player in the Indian automotive sector. With the company's continued focus on innovation and sustainability, it is well-positioned to further capitalize on the growing demand for electric and conventional vehicles in the country.
About MG Motor India
MG Motor India is a subsidiary of the British automaker MG Motor UK and is known for its commitment to innovation and sustainability in the Indian automotive industry. The brand offers a diverse range of vehicles and has demonstrated strong growth since entering the Indian market. With a dedicated focus on electric vehicles and advanced mobility solutions, MG Motor India aims to contribute to a greener and more connected future in the country.