MG October 2023 Sales tops 5,000 Units
In terms of retail sales, MG Motor India has grown to be a prominent player in the Indian automotive industry middle order. Retail sales report for October 2023 yet again tops the 5k unit sales mark during the Centenary celebrations of the brand.
October has always been significant for the Indian auto industry, given the increased number of footfalls during the festive season. MG’s robust performance and the growing prominence of electric vehicles (EVs) outlines the auto manufacturers long-term brand goals.
Festive Sales Season Boosts MG October 2023 Sales
In October 2023, MG reported retail sales of 5,108 vehicles, a substantial YoY growth of 16.97 percent. Comparing these figures with October 2022, sales surged by 741 units, underlining the brand’s sustained growth. YoY sales are up from 4,367 units. This indicates a positive trajectory, and showcases MG’s commitment to becoming a thriving player in the EV market.
Festive sales season plays a pivotal role in driving the sales figures, with customers taking advantage of attractive customer offers and incentives. These customer incentives contributed to a 2.10 percent MoM growth compared to September 2023, indicating the effectiveness of these offers. MoM volume growth stood at 105 units, up from 5,003 units.
Commitment to Thriving in the EV Market
MG’s market performance can be attributed to a deliberate range of car models, each tailored to meet the evolving preferences of customers. MG’s EV lineup garnered notable attention, reflecting the brand’s forward-thinking approach to sustainable transportation. Current sales stability, while not unprecedented, are indeed noteworthy and signify the brand’s success in an evolving market. Overall, MG Motor India has reported a big green tick to start this quarter.
Sustainable Growth and the Growing Importance of EVs
Continued growth of MG’s EVs could be read as the automotive industry’s shift towards cleaner, sustainable alternatives. As the world transitions to electric vehicles, MG Motor India is poised to play a substantial role in shaping the future of mobility. MG remains on an upward trajectory, marked by positive, sustainable growth. Consequently, EV sales contributed a quarter (25 percent) of total sales.
