Home CAR & BIKES MG Motor India Announces Price Hike For All Models From January 2024...

MG Motor India Announces Price Hike For All Models From January 2024 Onwards

MG Motor India has confirmed in a statement that it will roll out a price hike for all models in its lineup from January 2024 onwards. While the exact quantum of the price hike hasn’t been specified, the company has said that the bump is in relation to “the rising costs attributed to overall inflation and increased commodity prices”. Additionally, the brand has also stated that it will announce special year-end offers towards the end of December 2023.

Also Read: Auto Sales November 2023: MG Motor India Registers 4,154 Units Of Sales

MG’s sales numbers in November 2023 stood at 4,154 units

India’s business conglomerate JSW Group recently picked up a 35 per cent stake in MG Motor India, entering into a joint venture (JV) with MG’s parent company Shanghai Automotive Industry Corporation (SAIC Motor). The company said in a statement that the partnership will focus on expanding MG’s vehicle portfolio in India (with a focus on ‘green’ vehicles), enhancement of local sourcing, improvement of charging infrastructure for electric vehicles (EVs) and expansion of production capacity.

Also Read: JSW Group Acquires 35% Stake In MG Motor India; Enters Into JV With SAIC

MG’s sales in November 2023 stood at 4,154 units, representing a marginal Year-over-Year growth of 1.8 per cent. The sales numbers were also 18 per cent lower than October 2023 when it sold 5108 units. The company’s electric cars made up 30 per cent of the total sales volume in November, which could be attributed to the company slashing prices for the ZS EV SUV by up to Rs. 2.30 lakh.

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