The Registrations of MG vehicles in India attained a value of 28,162 Units in 2020
GlobalData projects the indicator to grow at a CAGR of...
Market analysis of car manufacturing industry in India
The Indian car manufacturing industry has fluctuated between growth and decline in recent years in value terms. Volume growth has been healthy but slowed significantly in 2019. Amidst the COVID-19 pandemic, the Indian car manufacturing industry is expected to experience decline in 2020. A key feature of the Indian industry during the historic period was the Indian government’s sudden decision to announce demonetization. The economic alarm that was ignited as a consequence of the government’s actions ultimately struck the country’s car manufacturing industry, as the sale of cars hit a 16-year low in December 2016. Though sales have recovered, it was on the back of heavy discounts in order to boost demand. As such, even though volume consumption levels recovered in the aftermath of the demonetization, the value of the market was not able to grow at the same pace.
MG Motor India Pvt Ltd (MG Motor India)
MG Motor India Pvt Ltd (MG Motor India), a subsidiary of SAIC Motor Corp Ltd, is an automotive company that manufactures and sells SUV (sport utility vehicle) cars. It’s products include MG Hector, MG ZS EV, and MG Gloster. The company provides lost key, fuel, mobility, towing and medical assistance; repair and maintenance; warranty; and e-booking services to its customers. MG Motor India distributes its products through a network of local car dealers. It operates a manufacturing plant in Panchmahal, Gujarat, India. MG Motor India is headquartered in Gurugram, Haryana, India.
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