MG Motor reports 24 per cent drop in retail sales in October

New Delhi, November 1

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.

The company had retailed 3,750 units in the same month last year, MG Motor 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,” MG Motor 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. PTI

Join Whatsapp Channel of The Tribune for latest updates.