Auto Sales September 2024: JSW MG Motor Sales Down By 8.3%, EVs Make Up Nearly Half of Sales

JSW MG Motor India reported that 49 per cent of its total sales in September 2024 came from new energy vehicles (NEVs), marking a significant growth in the electric vehicle (EV) market. Out of 4,588 total units sold, approximately 2,250 were NEVs. However, the overall sales figures reflect a slight year-on-year decline compared to September 2023, when the company sold 5,003 units. This represents an 8.3 per cent decrease in sales, down by 415 units.

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Despite this decline, the NEV segment has shown impressive growth. In September 2023, electric vehicles made up around 25 per cent of MG's total sales, highlighting a substantial shift toward NEVs over the past year. The company’s internal combustion engine (ICE) vehicles still accounted for a slim majority of sales in 2024 at 50.96 per cent, but the growing balance between ICE and NEV sales underscores MG’s commitment to electrification. 

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The automotive industry faced challenges in September 2024, including the inauspicious period of Shraddha and extended monsoon conditions, which negatively impacted showroom footfalls. However, MG Motor remains optimistic, anticipating a rise in sales during the upcoming festive season. Another key change for the company is its upcoming shift to the Vaahan portal in October 2024, which is expected to improve sales reporting transparency and efficiency.