HomeCar NewsSales Surge: MG India's Impressive Growth Numbers in Q1, March 2023

Sales Surge: MG India’s Impressive Growth Numbers in Q1, March 2023

MG India Breaks Records with Highest-Ever Monthly Unit Sales of over 6k

New MG Gloster
New MG Gloster

MG India has been on a roll, reporting its highest-ever monthly unit sales! It’s a likely recipe for success and they’re cooking up a storm in the market. Sales data from February and March 2022 and 2023, speaks volumes. March 2023 saw YoY growth of 28.17 percent with sales of 6,051 units. February 2023 sales were reported at 4,193 units. MoM volume growth stood at 1,330 units.

But wait, there’s more! MoM growth in March 2023 is a staggering 44.31 percent, with sales of 1,858 units more than February 2023. January 2023 sales were reported at 4,114 units.

MG Car Sales March 2023 - Highest ever monthly sales
MG Car Sales March 2023 – Highest ever monthly sales

Sales Rocketing: MG India’s Strong Growth Figures

Growth figures are impressive and indicate that MG’s sales strategy is working wonders for them. It’s likely they’ve found the right gear to move up the ladder.

Looking at Q1 2023 sales for MG, we see YoY growth of 5.92 percent. With Q1 2022 sales at 13,555, and Q1 2023 sales at 14,358, and volume gain of 803 units. If we take a closer look at Q4 2022 and Q1 2023, we can see QoQ growth rate of 16.31 percent. With sales at 12,345 units in Q4 2022, and a QoQ volume growth of 2,013 units. It’s a quarterly indication of sales success, one step at a time.

MG India’s Comet Smart EV Launch: A small electric car segment benchmark

This growth story is far from over, as MG India is preparing for the launch of its Smart Comet EV.’ This new offering is MG’s expression of its continuing commitment to green and stress-free urban commuting.

MG Comet small electric car is set to be a game-changer in the Indian market. It combines sustainability, innovation, and customer satisfaction in one package. MG is taking a step towards meeting the demand for eco-friendly vehicles, and it’s a move that’s likely to strengthen the company’s position in the market.

Local Manufacturing & Streamlined Supply Chain Key to MG India’s Success

The key to their success is attributed to the efforts put into improving semiconductor supplies through local manufacturing and eliminating logistical obstacles. MG has focused on localizing production of semiconductors, which has resulted in a more reliable supply of these crucial parts. And by streamlining the supply chain and improving delivery times, MG India has been able to fulfill demand for their products.

MG Motor India, Senior Director – Sales, Rakesh Sidana, “The Next-Gen MG Hector, India’s first internet SUV maintains its strong uptake in the market and has recorded its second-highest lifetime sales, since its launch, in the month of March. Similarly, the ZS EV, India’s first pure electric Internet SUV, has been registering good traction across market segments.”

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