With retail sales reported at 4,503 in June 2022, MG Motor India sees YoY and MoM growth
MG Motor India has continued to make inroads since its foray into the marketplace here. Being one of the most recent companies to set up shop in India, focus has been to create a stronghold in the few segments that the company does business in.
A lot of what we understand about MG stems from its ability to perform from a position of strength. The company clearly doesn’t sell a wide range of cars here, but has carved a recognisable and dependable brand name in the widely defined UV segment.
MG Car Sales June 2022
MG Motor India reports retail sales for June 2022 at 4,503 units. YoY growth stood at 26.56 percent, up from 3,558 units. Volume growth stood at 945 units. MoM sales is up from 4,008 units at volume growth of 495 units. Sales growth stood at 12.35 percent.
Much of its success as a brand revolves around the popularity of MG Hector, also the company’s first launch here. This overwhelming segment performance has aided market expansion over time. Though still selective, it has relied on a strategic product portfolio that gives enthusiasts a clear insight. Fuelling this fire is constant demand. MG Motor India says it receives consistent monthly bookings of over 4,000 units of Hector, and 1,000 units of MG ZS EV, respectively.
Following a long period of uncertainty, it’s expected that industry-wide sales performance should stand improved in the months to come. With Covid-19 unleashing havoc in market functionality, manufacturing was further impaired owing to a global crisis revolving the unavailability of semiconductors. Current sales momentum comes on the back of improvement in semiconductor availability.
However despite stability, market outlook remains constrained owing to supply-chain roadblocks that have caused logistical nightmares. It goes without saying that MG continues to take necessary steps to address production and supply-chain issues. And continues to reiterate its anticipation of situational improvement in H2 2022. This is expected to be gradual. Following monsoon season effects, India gears up for a fairly long festive season. A period that’s often been beneficial for manufacturers owing to sales momentum.
MG Motor growth strategy
MG Motor India strategic growth plans revolve around realistic market trends. For starters, it focuses on the UV segment. This premise has projected growth potential in umpteen future growth trend data studies. For a fairly new market entrant, MG ZS EV ensures the company is already present in the electric vehicle transition. A segment that’s largely uncontested today considering most companies don’t yet sell an electric car in India.
MG has also ensured that its cars are tech savvy. With a recent shift in focus on tech in cars, MG has continued to to strive for tech rich cars among other things. And since it addresses specific vehicle segments, a fun takeaway for May 2022 sales is that MG Astor outsold Skoda Kushaq.