The company was struggling with chip shortage for the past few months, due to which the vehicles were not being produced, but now the situation has become a little better, due to which the deliveries have been slightly better in the month of January. Although it is not completely cured, due to which the company also said that the supply chain is still going to be affected due to chip shortage.
MG Motor further said that the situation is going to improve in the second half of the year. The company has had a better last year and has been 43% better than 2020. After coming out of the impact of the Corona pandemic, the company has registered a huge growth in sales of all its car models last year, along with the newly launched product MG Aster has also received great bookings.
How were the sales in 2021?
Compared to the year 2020, the company has registered a growth of 21.5% in the sales of Hector in the year 2021, 145% in the sales of ZS EV and 252% in the sales of Gloster in the year 2021. MG Motor India manufactures vehicles at its state-of-the-art manufacturing facility in Halol, Gujarat. The plant has an annual production capacity of 80,000 vehicles and employs about 2,500 workers.
In 2022 also, the company is planning to bring many models, the company is going to bring an electric vehicle soon, which will be priced up to Rs 10-15 lakh. Apart from this, with the company currently selling the ZS EV, with two models, the company is expecting 20 per cent of the total sales to be from electric vehicles. The company is aiming to sell one out of every five vehicles as EVs by 2024.
The trend of electric cars is increasing rapidly in the country and the major reason for this is the increasing fuel prices as well as the discounts available in EVs. In such a situation, British carmaker MG Motor is preparing to tackle the EV segment of the Indian auto market. The company stunned everyone with the introduction of an electric model as its second car, from the time it announced its intentions to foray into the EV segment.
The company’s ZS EV is receiving an average of 700 bookings per month and is the second best-selling electric car in the country after the Tata Nexon EV. In such a situation, the company is going to bring a small electric SUV to compete with the Tata Nexon EV, it will be brought by March 2023. This EV will be built on the global platform but it has been customized according to Indian regulations and customers.
Simultaneously, the company wants to reach the maximum level of localization, which involves assembling batteries and other equipment. This affordable EV is going to compete with the Tata Nexon EV, while also creating new options for the customers. At present, only Tata Tigor EV is available for less than Rs 15 lakhs, so with the advent of new options, the demand for EVs among the customers will increase.
MG Motor has made a great comeback in January due to which there has been a huge growth in sales. But the company is still not sure about the chip, so maintaining the supply will be a challenge. It remains to be seen how the sales pan out next month.