JSW MG Motor said on Monday it plans to launch four luxury cars in the next two years, which 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 plans 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, in which the JSW Group and other Indian entities now hold a 51 per cent stake, will launch only “next-generation energy vehicles” in the luxury category.
“We will restrict ourselves to new energy vehicles – powerful hybrids, plug-in hybrids and electric vehicles. The penetration of electric vehicles in the luxury segment in India is just seven per cent, as against two per cent in the conventional product category. There is increased interest in the luxury segment to look at these new powertrains and new fuel options in different body styles (roadster, sports utility vehicle, etc.),” Gupta said.
In 2023, around 45,000 units of the luxury car segment were sold in India, representing a year-on-year growth of 20 percent. However, this segment accounts for only 1 percent of the total domestic car sales in the automotive industry.
Asked what would be the price of JSW MG luxury cars, Gupta said, “We have always defined luxury from a price perspective. The new definition of luxury is a combination of price, exclusivity in the experience and accessibility of that experience.”
He said the company aims to improve the accessibility of luxury cars for Indian customers through MG Select.
“We are planning a four-five car display at MG Select, which will entail a minimum of 4,000 sq ft of display space. We will also invite potential dealer partners to come and join us. And we will be looking for young, new generation entrepreneurs with an appetite for luxury to join us,” he said.
JSW MG is not the first carmaker to opt for two separate dealership lines for its products. Maruti Suzuki India sells its high-end cars through Nexa showrooms, and Hero MotoCorp sells its high-end two-wheelers through Premia stores.
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