JSW MG Motor retail sales fall 8% to 4,588 units in September

JSW MG Motor India said its retail sales had declined for September 2024. According to a statement from the company, the automaker reported an 8% decrease in sales compared to the previous year. Total retail sales in September this year stood at 4,588 units, a critical drop from the 5,003 units sold in the same month last year. The decline comes at a time when the automobile sector as a whole has been suffering on account of various external factors.

New Energy Vehicles in the Lead

Despite the sales decline trend as reported, there are still some positives with JSW MG Motor India. New energy vehicles include electric and hybrid cars and are still highly integral to the company’s selling business. Within September 2024, new energy vehicles accounted for a share of 49% of the sales the company had. This indicates that more and more customers are targeting environmentally friendly cars, and the company is moving to strengthen its position in the electric vehicle (EV) market further.

This is shown by the fact that nearly half of the company’s sales were through new energy vehicles, which shows the company’s successful shift to sustainable mobility solutions. The government of India continues pushing for more electric vehicle adoption as one of the measures to reduce the country’s carbon footprint and promote cleaner transportation.

Shifting to Vaahan Portal in October 2024

JSW MG Motor India has also published its statement, in which it communicated that it would be switching to the Vaahan Portal for sales reporting from October 2024 onward. The Vaahan Portal is the centralized government platform for car registration and data management. In this context, the move is considered a natural step forward for the company as it matures in its operations in the Indian market.

Since its launch in India, JSW MG Motor has been reporting consistent retail numbers. Its decision to post on Vaahan augurs well for the company’s confidence in the accuracy and transparency that it generates in its sales numbers. The automaker would further simplify its reporting and align itself with regulatory standards through this government-backed portal.

Challenges to the Auto Industry

JSW MG Motor also acknowledged that it, too, has faced issues that have affected its sales performance in September 2024. The Shradh period, which is considered inauspicious for making new purchases, and the prolonged monsoon season were two areas of influence that could have pulled sales. Of course, not only JSW MG Motor, as the entire auto space has been reeling with multiple challenges.

Shradh is a time for paying obsequies to one’s ancestors, and at that time, consumer expenditure would generally slow down, especially on high-value items like automobiles. Further, the extended monsoons witnessed battered market sentiments in different parts of India, and dealers saw sluggish footfalls.

Festive Season Optimism

Despite the pains in September, JSW MG Motor still feels positive. Its optimism stems from the expectation that the arrival of the festive season will increase people’s overall consumer spending patterns. That said, the automaker awaits heightened footfalls at its dealerships and a general pick-up in market traction along with the festive season.

The festive season demand is where the company hopes to make up for the losses incurred during the inauspicious Shradh period and an elongated monsoon. JSW MG Motor’s diverse product line—from the ever-increasing new energy vehicle range—believes this will appeal to more customers during the next few months.

FAQs

1. JSW MG Motor India Retail Sales in September 2024?

As reported by JSW MG Motor India, the company sold 4,588 retail units in September 2024.

2. How was JSW MG Motor like last year?

There was a fall of 8% in September 2023, with 5,003 units being sold.

3. What were the new energy vehicles % of JSW MG Motor?

In September 2024, new energy vehicles accounted for 49% of the company’s sales.

4. What is the Vaahan Portal, and when would JSW MG Motor shift to it?

Vaahan Portal—The Vaahan Portal is a government vehicle registration portal, and JSW MG Motor will switch to it in October 2024.

5. Why is JSW MG shifting to the Vaahan Portal?

It reflects maturity and consistency in the company’s sales figures over time.

6. What dented JSW MG sales in September 2024?

The Shradh period and an extended monsoon

7. Does the company, JSW MG Motor, believe sales will go northbound soon?

Yes. “This festive season is going to see better sales, as people are likely to spend more on bigger cars,” concludes Vikram Solanki, National Business Head, JSW MG Motor