Booker T. -- Naming the MGs

Booker T. talks about how the MGs were named:

This was the first single released by Booker T. and the MG's, whose name originally referred to the MG sports car, though it later came to stand for Memphis Group as well.

"The original meaning was a reference to the car, 'cause this guy Chips Moman, who was the engineer for Stax, was driving one: He always had it parked in front, he used to do wheelies in it, and stuff," says Jones. "But back then, we were looking for an endorsement, and they wouldn't even talk to us. So, I thought, 'MG's -- the Memphis Group.' So we named it the Memphis Group."

http://www.nj.com/entertainment/music/index.ssf/2009/04/after_a_lifetime_of_working_wi.html