MG Motor India is launching the Cyberster electric sports car through its new "MG Select" retail channel, targeting the accessible luxury market segment. The vehicle's price point will range from ₹65 lakh to ₹70 lakh.
JSW MG Motor India announced on December 2nd, 2024, its intention to launch the Cyberster electric sports car as the inaugural vehicle under its new "MG Select" retail channel, which will focus on the accessible luxury market segment.
MG Motor India plans to launch the all-electric Cyberster sports convertible as the inaugural model in its 'MG Select' lineup of four new energy vehicles within the next two years, according to JSW MG Motor India Chief Growth Officer Gaurav Gupta's statement to PTI.
Priced between ₹65 lakh and ₹70 lakh, the Cyberster targets sports car enthusiasts of all ages in both metropolitan and smaller cities.
The Cyberster will be the inaugural model in the four-model MG Select launch. We project the initial two models to debut in the first quarter of next year.
In September, the company announced its strategic entry into the accessible luxury segment, with a planned introduction of four new energy vehicles within the next two years.
Mr. Gupta stated that the Indian luxury car market has experienced approximately 25% annual growth over the past four years, nearly double that of the mass market segment. He anticipates that the Cyberster will reintroduce the appeal of sports car ownership to this market.
In addition to enhancing the MG brand's image, the Cyberster will further elevate the appeal of electric vehicles and the MG brand as a whole.
This will significantly enhance the MG brand's market position and elevate its brand appeal.
Regarding projected sales figures, he stated that while precise volume estimation is challenging, the company has fully prepared its Complete Knock-Down (CKD) line and is actively expanding its international supply chain to support anticipated demand.
He stated that the company projects Cyberster sales to originate not only from major metropolitan areas but also from secondary markets such as Coimbatore and Chandigarh, regions demonstrating significant luxury vehicle demand.
MG Select positions the company to compete in the accessible luxury segment, currently occupied by models such as the BMW 2 Series, Audi Q3, and Mercedes-Benz A-Class, which are priced at approximately Rs 45 lakh.
Post a Comment