MG plans to sell a million cars worldwide by 2024May 15, 2020
The new strategy reflects MG’s plans to enter more than 100 markets worldwide. MG plans to enter 100 global markets and ensure annual sales of up to one million units by 2024.
Note that the parent company Shanghai Automotive Industry Corporation (SAIC) said that the “Mission 100” strategy is aimed at preparing the British automaker for its 100th anniversary in 2024. The new MG brand strategy requires the brand to become more internationally oriented and the details of the plan were announced less than a week after the brand presented sketches showing the new MG electric roadster concept.
Yang Xiaodong, vice president of SAIC, said that he considers MG to be an international brand controlled by the Chinese, but operating all over the world. “Products and business plans have already been thought out,” he said. According to SAIC, in 2019 MG sold 298,000 cars worldwide, including 139,000 in export markets, taking first place in the export of one brand of car.
To drive sales in potential key markets such as the UK, MG said it will expand its current lineup with seven new models over the next 18 months, three of which are described as completely new and the rest as updates to current models. According to Xiaodong, the kit includes electric models to complement the MG XS EV.
As part of the Mission 100 strategy, MG also announced that it will pay more attention to attracting young customers to the brand through the introduction of new digital infotainment features, 5G connectivity options and third-level autonomous driving technology – all of which are planned to be developed in collaboration with a sister company SIAC, Roewe.
Further changes will focus on the MG sales network, which, according to the company, will offer a “new digital retail experience.” As part of this, MG is gearing up to show off a new logo based on what is already pictured in the sketches of its new electric roadster.
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