You are here: Home » Economy & Policy » News
Business Standard

MG Motor reports 24% drop in retail sales in Oct amid production challenges

MG Motor India on Monday reported 24 per cent dip in retail sales at 2,863 units in October 2021 amid production challenges due to semiconductor shortage

Topics
MG Motor | MG Motor India | Auto sales

Press Trust of India  |  New Delhi 

MG Motor India unveiling of MG Hector
The company had retailed 3,750 units in the same month last year, MG Motor India said in a statement

India on Monday reported 24 per cent dip in retail sales at 2,863 units in October 2021 amid production challenges due to semiconductor shortage.

The company had retailed 3,750 units in the same month last year, India said in a statement.

"The global chip shortage has hampered production resulting in lower sales. The challenge to ensure timely deliveries is likely to persist through November and December and we expect this to get better in the first quarter next year," India said in a statement.

Amid the acute shortage of semiconductor chips worldwide, the carmaker has limited stocks at its dealerships currently, it added.

However, momentum in demand continues in the festival season for the company as it has received over 4,000 bookings for Hector and more than 600 bookings for ZS EV and Gloster in October.

"The newly launched Astor has also received positive feedback from the customers and was sold out for 2021 within 20 minutes of opening the bookings. The deliveries for the first batch of Astor will begin from the first week of November," the automaker stated.

Bookings are now open for Astor delivery in 2022, it added.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, November 01 2021. 13:43 IST
RECOMMENDED FOR YOU
.