With over 4k units sold, MG Motor India reports robust MoM and YoY sales growth in May 2022
MG attributes growth to an improved situation where chip availability is concerned. And expects the situation to improve further in the months to come. Sales slowdown in recent months has been related to production adjustments to factor in parts shortage. This has been further complicated owing to the impact of preceding Covid-19 lockdown, and ongoing global lockdowns.
On that front, the manufacturer continues to monitor the situation and is streamlining efforts to adjust to developmental situations. Where demand is considered, MG takes pride in its healthy booking pace.
MG Motor Sales May 2022
MG Motor India reports sales growth for May 2022 at just over 4k units. With sales at 4,008 units, YoY growth is manifold, up from 1,016 units. Volume growth is reported at just below 3k units (2,992). MoM growth is up at just below a 100 percent, up from 2,008 units. Volume growth stood at 2k units. Demand for their cars Hector, Astor, Gloster and ZS EV is strong.
Customer response for MG as an entity continues to go from strength to strength. JD Power Sales Satisfaction Index 2021 put MG atop the study. About 3 weeks earlier, the company reported cumulative sales at the time at 1 lakh units. The sales milestone was established in under 3 years of operations here.
2020, 2021, and 2022 market
The company has built a strong brand recall, and future forward growth strategy. Given the circumstances, MG is probably working harder than ever before owing to Covid-19. A global shutdown ensued not long after the company began ops here. As such, the time that would have been crucial to build the company was spent waiting. This also led to further complications of sales shutdown, and eventually parts unavailability.
At the same time, one is glaring straight at inflation. Depending on how steep growth is and how long one is caught up in it, car purchases too could be impacted. Especially the predominant entry level market. However, this may not impact MG Motor India as much as it may others. For one, the manufacturer does not yet sell an entry level car here.
MG Astor sales
Market strategy has been to go big. A success path established by its flagship, Hector. And then extended to Gloster. A strong EV approach is supported by MG ZS EV. The brand did last year launch its smallest car for the market, Astor. While bookings for the same have been high, the company has only been able to dispatch smaller numbers each month.
The strategy was meant to deal with the ongoing chips shortage situation. However, as these niggles are resolved, one can expect Astor sales volume to improve, Maybe even dramatically.