SAIC Motor Corporation Limited’s subsidiary MG Motor entered the Indian market in 2019 with its first SUV, the MG Hector. With a total of 5 cars in India – Hector, Hector Plus, Gloster, Astor, and ZS EV – MG Motor has made significant strides in establishing itself as a popular brand. Next month, the Comet EV will join the portfolio.
| Year/Fiscal | Units | % Growth |
| FY 2020 | 21,954 | |
| FY 2021 | 35,597 | 62% |
| FY 2022 | 40,369 | 13% |
| FY 2023 | 48,866 | 21% |
One of the best-selling SUVs in its segment, the Hector was sold by MG Motor over 20,000 times in its first year. In order to compete with Creta and Seltos at an affordable price point, the company focused on offering a range of premium features at an affordable price.
MG Motor sold 21,954 vehicles in 2020, driven primarily by the demand for its SUVs, the Hector and Gloster, as well as its first all-electric SUV, the MG ZS EV.
The brand’s best-selling model is the MG Hector.
After selling 35,597 units in 2021, MG Motor recorded a growth of 62 percent. The company’s best sales came in FY2023, up 21 percent from the previous year. With 48,866 units sold, MG Motor has also had its best-ever fiscal year.
A key reason for MG Motor’s success in India has been its commitment to localization. The company has set up an 80,000-unit capacity manufacturing facility in Gujarat.
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The post MG Motor Achieves Highest-Ever Sales Figures for March 2023; FY2023 Shows Impressive 21% Rise in Numbers appeared first on Newsblare.
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