JSW MG Motor India: June retail sales fall 9% to 4,644 units

JSW MG Motor India, a prominent automaker in the Indian car market, witnessed a 9% decline in retail sales for June 2024 compared to the same period last year.

The company sold 4,644 units in June 2024, falling short of the 5,125 units retailed in June 2023. However, there were positive signs amidst the overall dip, with the company’s flagship electric vehicle (EV), the ZS EV, achieving its highest-ever monthly sales.

The automaker had retailed 5,125 units in June 2023. The company’s flagship SUV- ZS EV achieved the highest-ever monthly sales in June 2024, JSW MG Motor India said in a statement.

With over 40 per cent of total sales, at 1,861 units during the month, NEVs (new energy vehicles) continue to contribute a significant share to the company’s overall sales, it added.

Sales and EV Performance of JSW MG Motor

JSW MG Motor India’s sales decline of 9% year-on-year indicates a possible slowdown in demand for the company’s vehicles. A bright spot for JSW MG Motor India was the strong performance of the electric vehicle segment. New Energy Vehicles (NEVs), which mainly include electric vehicles, contributed significantly to the company’s sales.

JSW MG Motor India sold 1,861 electric vehicles in June 2024, accounting for over 40% of its total sales. This highlights the growing demand for electric vehicles in India due to factors such as rising fuel costs, government incentives for electric vehicles and growing environmental awareness among consumers.

JSW MG Motor India is likely to leverage this success to further promote the ZS EV and expand its electric vehicle portfolio to cover a wider range of customer preferences.

JSW MG Motor India: Charting a Course for Growth

JSW MG Motor India, a young but promising automaker, needs to capitalize on its strengths and navigate a competitive landscape.

Industry Outlook and Future Prospects