MG Motor bounces back from May, retails 3,558 units in June
- MG Motor says while global semiconductor shortage remains a challenge, pent-up demand will power prospects ahead.
MG Motor India on Thursday informed it had retailed 3,558 units in the month of June, a three-fold month-on-month rise from the 1,016 units sold in May. Sharing credit for the jump with the phased unlocking in the country, MG Motor stated it had seen a noticeably rise in enquiries received and bookings made.
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While admitting that production was impacted in June and is likely to remain hit till August owing to the global semiconductor chip shortage, the pent-up demand in the Indian auto market is likely to provide relief. "We are seeing early signs of positive consumer sentiment in June and potential purchases due to pent-up demand, which was on hold due to the pandemic," said Rakesh Sidana, Director for Sales at MG Motor India. "Even though some markets are still under lockdown, the ramping up of the vaccination drive has given us hope and we expect the demand to increase during the festival season."
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Sidana, however, does underline the need to be cautious because of the looming prospects of a third wave in the country. This is also something CCO and Senior Vice-President Gaurav Gupta had referred to in a chat with HT Auto. "We are not expecting a total rebound but something near it," he had said. "I think from July or August the industry can start going forward in measured way and then one has to see how it moves ahead from there as no one knows what lies ahead and when wave three comes into picture." (Read the full report here)
MG Motor entered India in 2019 with the Hector SUV which has enjoyed decent levels of success. The car maker followed it up with the launch of ZS electric vehicle, Hector Plus and Gloster premium SUV.
MG has also outlined that despite the threat of the pandemic, its product plans for India remains unchanged and that it will drive in a smaller SUV later this year and follow it up with another electric vehicle at some point in 2022.
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