The popular car brand MG Motor smashed through £1 billion in the UK sales in 2022. Consumers were drawn towards the Chinese-owned car brand due to its affordable electric cars and more. MG, which is owned by the Shanghai based SAIC Motor Corporation Limited recently hailed their ‘impressive sales’ from last year. Their revenue shot up 122 per cent to over £1 billion, as per accounts filed recently.
MG announced that the brand was in a ‘very strong position’ to take advantage of the impending mass shift to EV’s. MG, whose name comes from Morris Garages, has been owned by Chinese companies for 18 years now since 2005. It’s attracted a multitude of buyers over the last few years due to affordable prices. One of those prices is the MG4, which is priced at £26,000 and is one of only around 10 electric cars in the UK that is priced below £30,000.