Mg Motor India

MG Motor India reports best retail sales in March at 6,051 units, up 28%

MG Motor India on Saturday reported a 28 per cent year-on-year increase in its retail sales at 6,051 units in March, its best ever so far in a month. The strengthening of semiconductor supplies through various localisation initiatives and the easing of logistical bottlenecks have been key factors in achieving the highest ever sales, the automaker said in a statement. This momentum is expected to sustain and improve in the near future as well, it added. The company had retailed 4,721 units in March 2022. "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," MG Motor India Senior Director Sales Rakesh Sidana noted. Similarly, the ZS EV has been registering good traction across market segments, he added. The automaker said it is gearing up for the launch of its forthcoming electric vehicle 'Comet'.

Intend to take decisive steps through launch of Comet: MD, MG Motor India

MG Motor India on Thursday said it has christened its upcoming electric vehicle as Comet. The name derives inspiration from the iconic 1934 British airplane which participated in the England-Australia MacRobertson Air Race, the automaker said in a statement. Urban mobility is at a point of inflexion where new age solutions are needed to address both the current as well the forthcoming challenges," MG Motor India President and Managing Director Rajeev Chaba said. As the industry moves further into the digital age, there will be an exceedingly large number of innovations that could range from futuristic technologies to unique designs to clean mobility and many others, he added. "We at MG, through 'Comet', intend to take the needed decisive steps and a 'leap of faith' in the direction of creating solutions for a better future for each one of us," Chaba said.

MG Motor India Feb sales fall 7% to 4,193 units, to ramp production

MG Motor India on Wednesday reported 7 per cent drop in retail sales at 4,193 units in February over the same month a year ago. The company had sold total 4,528 units in February 2022. The carmaker said that while booking for the Next-Gen Hector is positive, the supply situation of select variants is impacted. MG Motor India is also focused on ramping up the production of premium SUV MG Gloster to cater to the SUV demand, the company said.

MG Motor India reports 4% fall in vehicle sales at 4,114 units in January

MG Motor India on Wednesday reported a 4 per cent fall in vehicle sales at 4,114 units in January over the same month last year. The company had retailed 4,306 vehicles in January 2022, MG Motor India said in a statement. The carmaker said production is regaining momentum with some improvement in the supply chain. However, select variants of its vehicles still remain impacted, MG Motor India added.

Auto Expo 2023 | MG Motor showcases MG4 electric hatchback

Auto Expo 2023: MG Motor India unveils hydrogen fuel-cell powered 'Euniq 7'

In terms of technical specifications, the Prome P390 delivers 92 kW of power with a peak operating efficiency of 60%

MG Motor expects EVs to make up around 20-30% of sales in India in 2023

MG Motor India, owned by China's SAIC Motor, expects electric vehicles (EV) to account for at least a quarter of its sales in India in 2023, the automaker said during the country's biennial auto show

MG Motor India retail sales rise 53% to 3,899 units in December 2022

MG Motor India on Sunday reported a 53 per cent rise in retail sales at 3,899 units in December 2022. The company had sold 2,550 units in the same month in 2021. The twin challenges of the pandemic and logistical headwinds have had an impact on production, but the coming month could see an improvement across many of these parameters, the company said in a statement. MG Motor said it has continued to foster EV adoption in the country in the form of multiple industry partnerships such as those for charging station installations with JioBP and BPCL. A total of 150 chargers have been installed across the country as part of MG's drive to support the EV infrastructure in India. Sales of the company's ZS EV recorded a growth of over 60 per cent in 2022, it added.

Impossible for any automobile company to be profitable in 1st yr: MG Motor

MG Motor India on Tuesday said it is impossible for any automobile company to be profitable in the very first year of its operations, in response to a notice from the Ministry of Corporate Affairs regarding why they have operational losses in the first year of operations 2019-2020. In a statement the company said it has received a "notice seeking clarifications primarily on why we have operational losses basis our annual report for the first year of operations 2019-2020". However, according to a report, the Ministry of Corporate Affairs has asked the company to explain irregularities and audit deficiencies of its financial records with its directors and auditor being summoned. "We fully cooperate with the government authorities on all issues and are in process of providing the desired records and information to the Registrar of Companies within the stipulated time frame," MG Motor India said. At the same time, it added, "we would also like to state that it is impossible for any ...

Registration of electric passenger, motor vehicles doubles this year

Driving growth is Tata Motors, with 25,795 registrations, against 10,200 last year

MG Motor India logs 53% rise in retail sales at 4,367 units in October

MG Motor India on Tuesday reported 53 per cent rise in retail sales at 4,367 units for October 2022. The company had sold 2,863 units in the same month last year, MG Motor India said in a statement. During the month, the company also achieved its highest ever production monthly milestone at 5,008 units, which included 784 units of electric vehicle (MG ZS EV), it added. The company, which had earlier been plagued by chip shortage, said it was able to enhance production due to "some improvement in semiconductor supplies through localisation initiatives". The production uptick has made the commencement of the deliveries of the company's SUV Astor in both continuously variable transmission (CVT) and automatic transmission (AT) variants possible, it added. "The coming weeks should hopefully see some more improvement," it said.

India launches probe into MG Motor as scrutiny on Chinese firms widens

The company's top management, including directors, managing director and auditors have been summoned next month by the ministry seeking more clarification

MG Motor India expects to turn profitable next year on higher sales

MG Motor India expects its operations to turn profitable next year as it looks to double its volumes with higher production capacity in place, the company's President and Managing Director Rajeev Chaba said on Monday. The company, which has been impacted by acute supply chain constraints, is looking to close the current year with sales of around 55,000-56,000 units. "Next year, we are looking at doubling our volumes. If we do 56,000 units this year and we are targeting over one lakh units in 2023. So that is why we think next year is definitely going to be a big year for us," Chaba told PTI in an interaction. He noted that the company is in the final stage of completing capacity expansion at its Halol-based manufacturing plant in Gujarat which would help it scale up dispatches to dealers next year. MG Motor had bought the Halol plant from General Motors and has been able to ramp the annual production capacity from 65,000 units to 1.25 lakh units now. "Last year we sold around 40,0

MG Motor India records 5% decline in retail sales at 4,013 in July

MG Motor India on Monday reported a 5 per cent decline in retail sales at 4,013 units in July as production impacted by supply chain constraints

MG Motor India reports 27% growth in June retail sales at 4,503 units

The company had clocked retail sales of 3,558 units in the same month last year

MG Motor India crosses 100,000 cumulative sales mark in nearly 3 yrs

MG Motor, which started selling its vehicles in India with the launch of Hector SUV in June 2019, currently has a portfolio including the electric SUV, ZS EV, premium SUV Gloster and compact SUV Astor

MG Motor India retail sales decline 22% to 2,008 units in April

MG Motor India on Sunday said its retail sales declined 22 per cent to 2,008 units last month compared to 2,565 in April 2021.

MG Motor India partners with BPCL to bolster EV charging infrastructure

Automaker MG Motor India on Monday said it has partnered with Bharat Petroleum Corporation Ltd (BPCL) to bolster EV charging infrastructure across the country.

Rising input costs, supply chain woes headwinds: MG Motor India prez

Increase in raw material costs and semiconductor prices, coupled with supply chain disruptions could become headwinds for the auto industry, says MG Motor India President Rajeev Chaba

MG Motor India to invest Rs 4,000 crore for a second manufacturing plant

Last year, MG Motor India had announced an investment of Rs 2,500 crore to increase production capacity at its Halol plant