01 Jan 24 | Gurugram

MG Motor India Reports Annual Sales of 56902 units in FY 2023, a growth of 18 % over FY 2022

MG Motor India today announced that its annual retail sales figure for the year ended Dec 31, 2023, was recorded at 56902 units. This is a growth of 18 percent 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 percent YoY growth over the figures for December 2022.

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

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Runa Ahlawat

Rahul Mathur

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