MG Motor India posts 43% rise in retail sales in 2021

Commenting on the performance, MG Motor India President and Managing Director Rajeev Chaba said, "The year 2021 was a challenging year for the entire auto industry."

The company had sold 28,162 units in 2020. Source: Reuters

MG Motor India on Saturday reported 43 per cent increase in retail sales in 2021 at 40,273 units.

The company had sold 28,162 units in 2020.

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The company's sales last year was mainly driven by its Hector SUV which clocked 31,509 units, followed by Gloster SUV at 3,823 units, ZS EV 2,798 units and Astor SUV 2,143 units, MG Motor said in a statement.

Commenting on the performance, MG Motor India President and Managing Director Rajeev Chaba said, "The year 2021 was a challenging year for the entire auto industry."

On the outlook, he said, "We foresee the situation will remain fluidic due to unpredictable factors ? Omicron threat, global semiconductor shortage and inflation risk due to increase in material cost. However, resilient demand trends give us a reason to assume cautious optimism."

Stating that the uncertainty may continue for the first six months of 2022 and will persist in some form throughout the year, Chaba said, "MG Motor will constantly be monitoring these factors and aligning its' operations to meet the demand."

MG Motor India said it has closed 2021 with a significant order backlog and is trying to meet the growing demand.

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