MG Motor India to revise prices in January 2024
MG Motor has revealed plans to increase the pricing of its entire lineup of vehicles in India, starting January 2024. Although the automaker hasn't shared specific details about the price changes, it attributes the decision to rising operational expenses, overall inflation, and increased commodity costs. Note, that the company currently offers six models, including the Comet EV, Astor, Hector, Hector Plus, ZS EV, and Gloster.
The current lineup is available with year-end discounts
MG Motor is enticing customers with significant year-end discounts across its range before the new pricing takes effect. This strategy aims to improve sales figures by attracting buyers who may be hesitant due to the upcoming price revisions. In the previous month, the carmaker experienced a YoY growth of 1.8%, with 4,154 units sold. Notably, electric vehicle sales constituted 30% of the carmaker's total sales during November.
MG Motor India recently entered a JV
In other news, MG Motor recently entered a joint venture with the JSW Group. The partnership will see the JSW Group acquire a 35% stake in SAIC Motor-owned MG Motor's Indian operations. The collaborative effort will involve various new initiatives like upgrading charging infrastructure, increasing production capacity, and introducing a more extensive range of vehicles focusing on environmentally friendly mobility. This will bolster MG Motor's presence in India and contribute to its growth strategy.
