MG Motor India reports 52.53 percent sales growth in October 2022; ZS EV retail sales at an all time high of almost 800 units
It wasn’t a feisty festive season. But auto manufacturers have plenty to write home about. MG Motor India reported sales at 4,367 units. Volume growth stood at 52.53 percent, up from 2,863 units. Volume gain is reported at 1.5k units. MoM growth stood at 14.68 units, up from 3,808 units. Volume gain stood at 559 units.
This growth story cocoons yet another growth momentum. That of the electric vehicle. MG produced 1000 units of its ZS EV last month. 784 units were retailed. It’s highest-ever retail sales since launch in 2020. With a comprehensive charging ecosystem that continues to expand, the EV journey in India is certainly showing up in green graphs.
MG India reports highest ever production
On the production front, MG Motor India reports its highest-ever production at 5008 units in October 2022. As the story unfolds, we see evidence of growth momentum. As forecast, production niggles were expected to improve in H2 2022 as the chips/parts shortage situation improved.
And with some improvement in semiconductor supplies through localization initiatives, MG expects some more improvement in the weeks to come. This bodes well considering the new-age Hector will soon be available.
MG Motor India sales Oct 2022 – Registers YoY growth of 52.53% with 4,367 cars sold pic.twitter.com/qcJmnio5U7
— RushLane (@rushlane) November 1, 2022
As has been the case since launch, Hector holds a strong place in the auto manufacturer’s product portfolio. And brings in the moolah being the company’s highest volume product. And its robust sales are expected to get a noticeable boost with the launch of next-gen Hector, scheduled for launch in 2022 end.
Focus on meeting customer demand, recent production uptick has also made the road easier for its smaller car, Astor. Deliveries have commenced for both CVT and AT variants. Through 2021, MG retail sales were reported at an average of 3.5k units each month. And in recent months in 2022, that number has shown marginal improvement
MG Air EV launch in 2023
Where EVs are concerned, MG Motor India has already announced its next big plan – MG Air EV. A new car, the Chinese bestseller, is manufactured by SAIC-GM-Wuling. Available since 2020, this little car will be showcased at Auto Expo 2023 in 2 months. Based on Wuling Air EV, depending on variant, this little car drives upto 200kms and 300 kms.
And it could very well be what the country needs to spearhead a large-scale EV transition. The tried and tested small car is the bane of businesses, especially in south east asian countries. And if EVs are to find a place in our homes and workspaces, they need to be small, fun, and affordable. India isn’t in a position to transform into the biggest market for Tesla but what it can be is a larger than life marketplace for small electric cars. It already has a sizeable small car segment that continues to rule without effort.
