MG Focuses on Affordable Hybrids Before Returning to Electric Vehicles

2024 has been a frustrating year for MG, which was disconnected from its core electric market.

While 2023 closed on a high note for MG with results well above targets, the context worsened throughout the year due to political decisions at both national and European levels. In 2024, MG Motor recorded 240,000 deliveries in Europe, a 20% increase compared to 200,000 vehicles sold in 2023. However, in France, figures show a notable decline with 25,782 registrations, a sharp drop of 25%! This is logical considering that electric vehicles accounted for 80% of sales in 2023 but less than 50% in 2024. This decrease is due to several factors, including the discontinuation of the Marvel R, ZS EV, and MG5 models in March to comply with GSR 2 standards, as well as the removal of ecological bonus and, of course, tariffs increased by more than 30%!

The European context, marked by political decisions slowing down the energy transition and rising production costs, also impacted MG Motor’s results. Despite these challenges, the Chinese-British automaker maintains its position within the Top 20 brands in France, with a market share of 1.45%.

Hybridization, a winning bet

In response to declining electric sales, MG bet on hybridization to turn things around. The introduction of the compact MG3 Hybrid+ in June and the SUV MG ZS Hybrid+ in October revitalized sales in the last quarter, with over 10,000 orders in three months. In December, these hybrid models helped MG reach sixth place in the French market across all energy types, with 7,947 registrations and a 4.18% market share.

These new hybrid models now account for more than half of MG’s sales in France (52.8%), a promising result confirming the effectiveness of this strategy.

The year 2025 looks to be decisive for MG Motor, with the launch of six new models, bringing its lineup to ten vehicles. However, the ongoing threat of customs duties on Chinese imports limits the competitiveness of its electric models. While hybridization provides an effective short-term solution, MG will need to continue innovating to adapt to an increasingly protectionist European market.

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