MG Share Outlook For 2022 With Learnings From 2021 | V3Cars
MG Motor achieved a healthy YoY growth of 56% in the calendar year 2021 so far and sold. 37,323 cars. In the same period last year, MG Motor sold 24,152 units.
MG Motor claim that they received good response for the Astor, which competes with the immensely popular Hyundai Creta and Kia Seltos among other C-segment SUVs. Rajeev Chaba, MD of MG India said that the biggest challenge is to sustain business operations and ensure the financial health of the brand and its stakeholders. The market saw a spike in demand and MG are finding it difficult to keep up. The supply side is struggling because of the semi-conductor shortage, shipping delays, and higher input costs.
According to MG, the ZS EV continues to get an average of 700 bookings every month. However, the production of the ZS is lagging far behind and hovering in the range of 200 - 300 units per month. MG are also planning to bring an all-new EV in the Rs. 10 - 15 lakh price band. They say that this mass market electric car will use a dedicated platform for EVs. MG plan to launch the new affordable EV sometime between April 2022 and March 2023. This mass-market electric car model may help MG price it aggressively because of the government subsidies and production-linked incentives (PLI scheme).
With the launch of the affordable EV, MG Motor anticipate their EVs to start accounting for over 20% of their sales in the next 2 years. We expect MG to increase their production to contain the long waiting period for cars like the ZS EV and Astor. Recently, MG Motor India launched the industry-first NFT collections in India.
Also Read: MG Motor Launch NFT Collections In India
ABOUT THE AUTHOR
Amit Saraswat
Born and brought up in Agra, he grew up reading magazines more than textbooks. With a keen interest in cars, he decided to make his future in automotive journalism and is currently helping in content at V3Cars.
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MG Cars in India
Comet EV
₹6.99 - ₹8.58 lakh*
*Ex-showroom priceHector
₹14.95 - ₹21.95 lakh*
*Ex-showroom priceHector Plus
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*Ex-showroom priceGloster
₹37.50 - ₹43.00 lakh*
*Ex-showroom priceZS EV
₹18.98 - ₹25.08 lakh*
*Ex-showroom priceAstor
₹9.98 - ₹17.90 lakh*
*Ex-showroom priceUpcoming MG Cars
MG4
₹20.00 - ₹25.00 lakh*
*Expected PriceExpected Launch Aug 2023
Astor Facelift
₹10.82 - ₹18.73 lakh*
*Expected PriceExpected Launch Aug 2023
RC6
₹25.00 - ₹35.00 lakh*
*Expected PriceExpected Launch Jul 2024
HS Plug-in
Hybrid
₹20.00 - ₹25.00 lakh*
*Expected PriceExpected Launch Aug 2024
MIFA 9
₹40.00 - ₹45.00 lakh*
*Expected PriceExpected Launch Sep 2024
G10
₹24.00 - ₹28.00 lakh*
*Expected PriceExpected Launch Apr 2025
3
₹10.00 - ₹12.00 lakh*
*Expected PriceExpected Launch May 2025
Marvel X
₹50.00 - ₹60.00 lakh*
*Expected PriceExpected Launch Jun 2025
Euniq 7
₹30.00 - ₹35.00 lakh*
*Expected PriceExpected Launch Nov 2025
eMG6
₹30.00 - ₹40.00 lakh*
*Expected PriceExpected Launch Jan 2026
Marvel R
₹50.00 - ₹60.00 lakh*
*Expected PriceExpected Launch Apr 2026
MG5
₹30.00 - ₹35.00 lakh*
*Expected PriceExpected Launch Oct 2026
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