MG Motor India begins 2022 on a strong growth path, charts 20 percent sales growth in January
MG Motor India reports 4,306 units in sales for January 2022. Retail sales growth is up ay 19.54 percent. Sales grew from 3,602 units a year earlier with YoY volume growth pegged at 704 units. MoM sales growth is reported at 72.45 percent, up from 2,497 units at volume growth of 1.8k units.
While the manufacturer is on the growth track, concerns remain regarding supply chain shortcomings pertaining to an ongoing global semiconductor shortage. This has impacted output owing to reduced production. Demand momentum continues but current circumstances aren’t ideal to match demand. MG Motor opines the supply chain shortage situation will improve in H2 2022.
Satisfied with their cars
The manufacturer’s most recent launch finds customers are ‘extremely satisfied with their cars’. Its AI-centric features and superior performance has seen it become a talking point for potential customers.
Hector and Gloster continue to pack in quite a punch in their respective segments showing good sales trends. Having lost no time in launching the ZS EV in India, its EV journey is already 2 years old here. Sales are close to the 4k mark.
The manufacturer has used this time to build a strong framework which includes a collaborative eco-system building approach. Concurrently, the charging infrastructure is being strengthened, and other elements introduced into the ecosystem. Focus on battery after-life applications and recycling is optimum.
Focus on Astor
MG Motor India’s Halol, Gujarat manufacturing plant has an annual production capacity of 80k vehicles. The plant has an employee strength of 2,5k folks. Building on aspects of CASE (Connected, Autonomous, Shared, and Electric) mobility, the company has found favour and acceptance by introducing tech packed cars, and segment first aspects in its vehicles.
With 2020 dampening spirits, MG Motor India has relied on rebuilding through 2021 having ended the year on a growth note. This despite a crushing semiconductor shortage that continues to be a bother. At the end of 2021, 31,509 MG Hector units were sold. This includes Hector Plus sales too. ZS EV sales are reported at 2,798 units. Gloster sales stood at 3,823 units, and Astor at 2,143 units.
While MG Hector continues to lead the way, Astor continues to carve a space for itself. While actual demand specifics are unavailable, MG continues to address chip shortages to ensure its market reach doesn’t take a beating. Shortly after beginning bookings for Astor In October 2021, the company had to close the same for the year at the 5k units mark. Competition is rife in the segment with Kia Seltos, Hyundai Creta, Volkswagen Taigun and Skoda Kushaq.