MG Motor India reports YoY and MoM sales decline in April 2022, sales dips to just over 2k units
The auto industry has been grappling with parts shortages. The struggle is real. An interim arrangement has been to sell cars without non-essential features. This in turn keeps the sales process operational despite shortages.
In April, MG was already selling Hector and Hector plus variants without a range of features. They include Auto Tailgate Swipe Sensor, subwoofer and amplifier. This impacts Smart, Sharp, and Select variants depending on the car. As expected, the parts unavailability is hampering feature inclusion. Once parts are available, the features will be added. However, there is no clarity when that might be.
MG Car Sales April 2022
As April 2022 concludes, MG Motor India deals with MoM and YoY sales decline. Last month sales fell to just over 2k units. This is one of the lowest total sales reports from the manufacturer. MG sells Hector, Hector Plus, Astor, Gloster and ZS EV in India.
With sales down to 2,008 units, decline stood at 21.72 percent. Sales fell from 2,565 units. MoM sales decline is steeper at 57.47percent. Sales fell from a high point of 4,721 units the month earlier. YoY volume decline stood at 557 units. MoM volume decline stood at 2,713 units.
Indian semiconductor industry
Industry estimates point to the chips/semiconductor shortage situation improving in H2 2022. But as of now, the shortage is real and quite crippling in certain instances. This week there has been a lot of chatter regarding India’s foray into the semiconductor industry.
As the country is largely dependent on such imports, discussions are on to build a semi-conductor industry. Which, of course, would take plenty of time. So, while long-term viability options are being studied, short-term struggles continue to hamper industry sales. As part of industry wide price hikes, MG Hector and Hector Plus price revisions that came into effect in April 2022 was in the range of 20 -25 grands depending on variant. Gloster is now pricier by 50k.
MG EVs and charging infra
The company’s most recent launch, MG Astor has had great bookings. However, the company had to limit this keeping in mind supply niggles. While manufacturers deal with sales decline, the orderbooks remain robust. Demand continues to surpass supply, and over recent months, this number has widened. Focus is on efficacies to ensure that a normal number of deliveries are met, and wait times kept in control.
As part of industry long term targets, MG Motor India immersed itself into the EV landscape quite early in its journey here. In a recent development, MG is working with BPCL to build on consumer insight and identify charging infra sites. This will be supported by tech-based EV charging system management. This will span highways and cities to smoothen intercity travels.