A top business executive estimates that MG Motor India will sell a total of over 24,000 of its two electric car models in 2023.
The recently introduced Comet EV, positioned as a more reasonable possibility, is priced between Rs 7.98 lakh and Rs 9.98 lakh (ex-showroom), while the opulent MG ZS EV is priced between Rs 23.38 lakh and Rs 27.40 lakh (ex-showroom). This indicates MG Motor is dedicated to bringing more electric vehicles into the Indian market.
Since starting its retail operations in 2019 with the Hector SUV, MG has added the ZS EV, Gloster SUV, Astor SUV, and, most recently, the Comet EV to its product roster. Sales data for the firm have increased steadily over the years, hitting 15,930 units in 2019 and rising to 28,162 units in 2020, 40,273 units in 2021, and 48,063 units in 2022.
A notable example is the sales of electric cars (EVs), which have increased tremendously, going from 1,142 units in 2020 to 2,798 units in 2021 to 4,494 units in 2022. The Comet EV and ZS EV are anticipated to contribute considerably, accounting for 25% to 30% of overall sales, towards MG's goal of selling over 80,000 cars by 2023.
"As a company, we did about 48,000 cars last year, and this year, we are targeting upwards of 80,000 units. In that overall mix, we are looking at about 25% to 30% mix of electric vehicles, which will be ZS EV and Comet EV. We expect that upwards of 2,000 or 3,000 units per month should be good to build up as we ramp up the volumes, and then, of course, it can be even more than that," Gaurav Gupta, Chief Commercial Officer, MG Motor India, told India Today.
The first four months of this year saw 18,909 units of retail sales from MG. To accomplish its goal of 80,000 units, the organisation has to sell an additional 61,091 units or an average of 7,637 units each month.
MG recorded its highest monthly sales in March 2023, with 6,051 units. However, MG has had issues due to the shortage of chips, much like other OEMs. When questioned about the impact on Comet EV manufacturing, Gupta said that the company had been actively working behind the scenes to serve its clients.
"It is unfortunate that during the last two years, we have not been able to supply the overall volumes and also sometimes specific variants, like the top-end of certain carlines. But we are working and we will be delivering the cars (Comet EV) right from the month of May itself. We remain optimistic to be able to gear up the supply situation," he said.
Beginning on May 15, reservations may be made for the MG Comet EV, a small electric vehicle. With the battery coming from a nearby supplier and the sheet metal being locally stamped, the Comet EV stands out for its high level of localisation. On the other hand, the imported battery is largely to blame for the MG ZS EV's lesser level of localisation.
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