MG Motor retail sales down 14.5% in March

MG Motor India on Friday reported a 14.5 percent decline in retail sales in March at 4,721 units, hit by supply chain constraints due to the new COVID-19 variant and the ongoing global semiconductor chip shortage.

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The company had retailed 5,528 units in March last year. Sales in March this year was "immensely impacted by the supply chain constraints due to the new COVID-19 variant and the ongoing global semiconductor chip shortage," MG Motor India said in a statement.

The company, however, said it continues to witness positive momentum in enquiries and bookings across its product portfolio, including Astor, Hector, Gloster, and the all new ZS EV, which has registered 1,500 bookings just within March.

The carmaker is continuously accessing and aligning its production, subject to the volatility of supply constraints existing worldwide, it added.