MG Brand Revival and Launch of New 3rd Generation Hybrid Model

MG, once perceived as a budget car brand in the UK, is undergoing a brand image transformation by introducing a 3rd generation model equipped with cutting-edge technology. The new MG 3 has been launched in Japan at a competitively priced point.

MG saw over 4,000 customers purchase the older MG 3 model in Japan last year. The older MG 3, released about a decade ago, had a somewhat rough gasoline engine and lacked refinement in its driving performance. However, it gained significant popularity in Japan as the most affordable car available. The 7-year warranty also proved to be a major draw.

In response, MG has enhanced its product capabilities by introducing the popular 3rd generation model. The new MG 3 boasts a redesigned platform and features a full hybrid system, rather than a mild hybrid. It includes a large touch monitor in the interior and has adopted a more modern design aesthetic.

MG stated that the new 3rd generation model represents a significant upgrade. While the price has been adjusted upwards, from approximately 2.69 million yen to 3.46 million yen, it remains more affordable than competing models like the Renault Clio or Toyota Yaris.

In the UK, with the discontinuation of the Ford Fiesta, a popular budget hatchback, there's anticipation that MG could fill that demand. MG aims to capture a larger market share by leveraging its competitive pricing and targeting annual sales of 10,000 units.

MG's design studio is located in London, and the European specification body was completed at the Birmingham Technology Center. Following the easing of COVID-19 travel restrictions, Chinese engineering teams also reportedly participated in the development of the new model in the UK.