MG Motor India Reports Annual Growth Of 18% over FY 2022

MG Motor India reported its annual retail sales figure for the year ended December 31, 2023, was recorded at 56902 units. This is a growth of 18 per cent over the previous year and marks the fourth consecutive year of growth for the company.

In December 2023, the company’s retail sales were 4400 units, which is a 13 per cent YoY growth over the figures for December 2022.

The company registered a growth rate of 18 per cent in the overall PV segment in 2023, which is certainly above the industry average of 8–9 per cent in the same sector. MG is now the second-largest EV seller in the country, with around 25 per cent of its total sales coming from EV models. The manufacturer’s flagship EV, the MG ZS, India’s first pure-electric EV SUV, and the MG Comet have received positive responses from EV buyers, with around 20,000 units sold to date.