MG Motor India Registers 7.4% Decline in Sales in February 2023

MG Motor India has released its sales report for February 2023. The carmaker retailed a total of 4,193 units last month, compared to the 4,528 units in the same month the previous year, witnessing a YoY decline of 7.4%. However, on an MoM basis, MG has reported a 2% sales growth as last month, it sold 4,114 units. According to reports, the decline in sales of the company could be attributed to several reasons, including market scenario, competition, or modifications in consumer behavior. However, sales growth from January to February 2023 suggests a promising trend for the company. MG currently rerails four models in India - the Hector, the Astor, the Gloster, and the ZS EV. The Astor and the Hector, currently dominate the firm's monthly sales, each selling an average of 1500–1600 units per month. The ZS EV generates sales of 500 to 700 units each month, whereas the MG Gloster, the company's flagship SUV, generates sales of approximately 200 units per month.

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In other news, MG Motor India in collaboration with Bharat Petroleum Corporation Limited (BPCL), opened 12 DC fast charging stations for electric vehicles on the Delhi-Jalandhar route. On both sides of the first MG Motor-BPCL fast-charging highway, charging stations will be opened nearly after every 100 kilometre. According to the firm, these charging stations will accommodate EV consumers' needs and give them simple access to charging stations. The existence of these charging stations will help EV customers feel less concerned about the car's range and will encourage the use of electric vehicles. The company has taken this initiative to boost India's entire EV market and hasten the shift to sustainable mobility.

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To meet the rising demand for EVs in the nation, the company, according to industry reports, is also increasing the production of the ZS EV. This move will reportedly strengthen the brand's commitment to creating a sustainable future for India. Further, the company's initiatives to increase its EV production and provide a reliable charging infrastructure in India will help in augmenting the growth of the EV market.