MG Motor India's vehicle sales down by 4% in Jan
1 min read . Updated: 01 Feb 2023, 11:08 AM IST
PremiumMG Motor India said that the production is regaining momentum with some improvement in the supply chain.
MG Motor India on Wednesday reported a 4 percent 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, the company said in an official statement.
The carmaker said production is regaining momentum with some improvement in the supply chain, said MG Motor India, adding that select variants of its vehicles still remain impacted, according to the news agency PTI.
Earlier this month, the automobile company expects electric vehicles (EV) to account for at least a quarter of its sales in India in 2023.
Rajeev Chaba, Managing Director, MG Motor also said that the company is evaluating the launch of the MG4 electric hatchback and eHS plug-in hybrid SUV in India, which were unveiled at the country's biennial auto show.
MG Motor has just over a one percent share of India's passenger vehicles market, where it sells the ZS EV SUV. SAIC Motor has previously said that it has a wide portfolio of new energy vehicles (NEVs), which include electric, hybrid, and fuel cell cars, which MG can choose from to sell in India.
The company also plans to raise funds to develop its Indian electric mobility business, Reuters reported in March, amid increased scrutiny of Chinese investments by New Delhi.
MG Motor entered India in 2019 with plans to invest about $650 million but New Delhi has sought to limit investments from Beijing after a 2020 clash between soldiers from the two countries on their disputed Himalayan border.
MG Motor India has a manufacturing facility in Halol, Gujarat, with an annual production capacity of 125,000 vehicles.
(With PTI inputs)
