On December 20, Zhou Yan, general manager of SAICβs MG brand, indicated that MG will launch two new models in 2025, namely, a compact pure electric sedan and a plug-in hybrid large 5-seater SUV. Both cars will have βless British style and more Chinese styleβ with the intention of βletting Chinese cars run around the worldβ, according to Zhou.
It is not clear at this time whether these two models will be launched globally in addition to the Chinese market.
Earlier this month, Zhou said on social media that one of MGβs new models launched next year will be equipped with semi-solid state batteries. This new model could be either the sedan or SUV.
Currently, MGβs model lineup includes the EXE181 electric hypercar; the CybersterΒ electric roadster; four sedans: the MG5, MG6, MG5 Scorpio, and MG7; the MG4 EV hatchback; and three SUVs: the MG One, MG ZS, and MG ES5. In addition, according to overseas media reports, MG is expected to launch a 7-seater SUV in the Australian market in 2025 and name it βMG QSβ, which may be the Roewe RX9βs sister vehicle and is expected to adopt a 1.5T plug-in hybrid power system.
MG originated in the UK in 1924. In 2005, it was first acquired by Chinaβs Nanjing Automobile Group. Then in 2007, SAIC acquired Nanjing Automobile. MG was officially incorporated into SAIC and became a domestic Chinese brand.
Data shows that MGβs sales in the global market are growing steadily. However, in contrast, the sales in China are declining year by year. From 2019 to 2023, MGβs global annual sales were 298,000, 310,000, 470,000, 660,000, and 840,000 units, respectively, ranked first in Chinaβs single-brand automobile exports for five consecutive years, accounting for about 70% of SAIC overseas sales.
On the contrary, MGβs domestic sales were 159,000, 80,000, 110,000, 180,000, and 100,000 units, respectively. Specifically, in 2019, domestic sales accounted for 53.3% of MGβs global sales, but by 2023, this makeup have dropped to only 11.9%.
Similarly, from 2019 to 2023, SAICβs sales fell from 6.238 million vehicles to 5.021 million vehicles. The sales in 2023 fell by 28% from the peak of 7.052 million vehicles in 2018. In the Chinese domestic automobile market, joint ventures and domestic brands are increasing their investment to compete for limited market share, especially in the new energy vehicle (NEV) segment. In 2023, SAIC released the βThree-Year Action Plan for the Development of NEVsβ, aiming to achieve annual sales of 3.5 million NEVs by 2025.
Will MGβs gradual electrification transformation help revive the declining sales?
Source: MG, Zhou Yan Weibo, Autohome
