Auto Sales March 2025: JSW MG Motor India Closes Year with 9% YoY Growth, Reports Strongest Q4 Yet

JSW MG Motor India reported sales of 5,500 units in March 2025, marking a 9 per cent year-over-year (YoY) increase from the 5,050 units sold in March 2024. Notably, over 85 per cent of these sales were from electric vehicles (EVs), including the Comet, ZS EV, and Windsor models. The MG Windsor, in particular, achieved its highest-ever monthly sales since its launch, reinforcing its position as India's highest-selling electric vehicle, beating the long-standing segment leader, the Tata Nexon.ev.

In the fiscal year ending March 2024 (FY24), JSW MG Motor India demonstrated significant financial improvement. The company's net loss narrowed to ₹586 crore, down from ₹826 crore in the previous year, marking its lowest loss in five years. This positive trajectory was primarily attributed to increased sales volumes and effective cost-control measures, particularly in managing raw material expenses. Revenue grew by 4.64 per cent to ₹7,990 crore, up from ₹7,636 crore in FY23 while the company's sales volume increased by 6.97 per cent, reaching 56,847 units in FY24 compared to 53,141 units in FY23. 

JSW MG Motor India's focus on electric vehicles has yielded substantial results. In December 2024, the company recorded its highest-ever monthly EV sales, with new energy vehicles accounting for over 70 per cent of total sales. The MG Windsor led this surge, achieving 3,785 units sold in that month alone. 

JSW MG Motor India introduced the "Battery-as-a-Service" (BaaS) plan to stimulate EV adoption further. Launched in September 2024, this scheme allows consumers to rent batteries, effectively reducing the upfront cost of EV ownership. The BaaS plan charges 3.5 rupees per km with a minimum monthly usage fee, addressing affordability concerns associated with electric vehicles. 

Additionally, the company announced plans to invest ₹5,000 crore to enhance production capacity and introduce new vehicles, including electric models, every three to six months starting September 2024. This expansion includes establishing a second manufacturing plant in Gujarat, aiming to increase production capacity from over one lakh units per year to over three lakh units annually. 

Despite these advancements, JSW MG Motor India faces challenges, including cumulative losses of approximately ₹3,000 crore over the past five years. However, the company's strategic initiatives, such as cost reduction measures, product diversification, and financing options, position it well for future growth. The increasing consumer adoption of EVs and the company's commitment to introducing new products every six months reflect a proactive approach to capturing market share in India's evolving automotive landscape.