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JSW MG Motor on Monday said it is planning to launch four luxury cars in the next two years.
JSW MG Motor on Monday said it was planning to launch four luxury cars in the next two years and that they will be sold through a new showroom line called ‘MG Select’.
The first luxury car will be launched in the first quarter of 2025 and the company is planning to open 12 ‘MG Select’ showrooms in the next six months, Gaurav Gupta, Chief Growth Officer, JSW MG Motor India, told Business Standard.
The company, wherein the JSW Group and other Indian entities now hold a 51 per cent stake, would launch only “new age energy vehicles” in the luxury category.
“We will be limited to the new energy vehicles — strong hybrids, plug-in hybrids and electric vehicles. There is only a seven per cent penetration of EVs in the luxury space in India versus a two per cent in the mainstream product category. There is a higher appetite in the luxury segment to look at these new powertrains and new fuel options across different body styles (roadster, sport utility vehicle, etc),” Gupta said.
About 45,000 units were sold in India in the luxury car segment in 2023, recording a 20 per cent year-on-year growth. However, this segment is just one per cent of the total auto industry’s domestic car sales.
When asked how will JSW MG’s luxury cars be priced, Gupta replied, “We always been defining luxury at a price point perspective. The new definition of luxury is a mix of price point, exclusivity in the experience and accessibility of that experience.”
He said that the company wants to improve accessibility of the luxury cars to the Indian customers through MG Select.
“We are planning for a four to five car display to begin with at MG Select, which will imply a minimum of about 4000 square feet of display space. We are also going to be inviting potential dealer partners to come and join us. And we will be looking at young new generation entrepreneurs with an appetite for luxury to join us,” he mentioned.
JSW MG is not the first automaker to opt for two separate dealership lines for its products. Maruti Suzuki India sells its premium cars through Nexa showrooms and Hero MotoCorp sells its high end two-wheelers through Premia stores.
First Published: Sep 16 2024 | 2:08 PM IST
