“MG Motors Cuts MG HS Price by Rs 6 Lakh in Response to Stronger Pakistani Rupee”
MG Motors has decided to lower the price of the MG HS by Rs 6 lakh, reducing it from Rs 87 lakh to Rs 81 lakh. The primary reason for this significant price reduction is the company’s intent to pass on the benefits of the strengthened Pakistani Rupee’s exchange rate to its customers. This revised pricing will take effect for all vehicles purchased from October 16 onward.
Syed Asif Ahmed, the General Manager of Sales and Marketing at MG Motors, explained, “MG has proactively passed on the foreign exchange benefit to its customers. Initially, we were prepared to follow the lead of the automotive industry’s leaders. However, our leadership decided to take a proactive approach and not wait for the rest of the industry when it came to sharing the foreign exchange gains.”
This move comes shortly after Lucky Motors’ announcement of reducing their own prices, which was also prompted by the Rupee’s strengthened position in the global market. However, MG distinguishes itself from Lucky Motors in one crucial aspect – MG never raised their prices in the first place.
MG’s pricing strategy has displayed remarkable stability throughout the year, similar to their Chinese counterparts and different from non-Chinese rivals. This decision marks the fourth price revision by MG this year, with the vehicle’s price being closely tied to fluctuations in the Rupee’s value against the US Dollar.