Mercedes-Benz Q3 car sales fall 8% as China demand weakness persists, EV sales rise 52%
Record battery-electric vehicle sales in Europe and North America were not enough to offset a 31% drop in China, Mercedes-Benz said.
- On Wednesday, Mercedes-Benz reported third-quarter car sales fell 8% to 407,200 units, driven by challenging market conditions in China where deliveries dropped 31% to 86,800 units.
- Intense competition and challenging market conditions in China squeezed sales, while the Top-End segment was particularly affected, with sales dropping 21% to 53,900 units due to ongoing model changeovers.
- Growth in Europe and North America helped offset weakness, with car sales rising 6% in the U.S. and 5% in Europe, while global battery-electric vehicle sales increased 52% to 78,100 units.
- Mercedes-Benz shares fell 4% on Wednesday before paring losses after the firm announced total sales of 491,700 cars and vans, 6% fewer than a year earlier.
- Fully electric vehicles accounted for a record 16.8% of global sales; Mathias Geisen, the Mercedes-Benz board member responsible for sales and customer experience, noted the electric GLC sales more than tripled versus Q2.
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Mercedes-Benz's car sales fell in the third quarter, with a severe retraction in the Chinese market nullifying the growth recorded in Europe and the United States. Exclusive material for subscribers. To have full access, access the link of the material and register.
On the world's largest car market, Mercedes will bring one third fewer cars to customers in the summer than in the previous year. In other regions, however, the brand with the star is growing. The Group posted a large increase at E-Autos.
In the People's Republic, Mercedes sells around one third fewer cars than in the previous year. Hope, on the other hand, is the trend in electric cars.
Mercedes-Benz Q3 car sales fall 8% as China demand weakness persists, EV sales rise 52%
Oct 7 (Reuters) - German luxury carmaker Mercedes-Benz said on Wednesday sales in its core car business continued to fall in the third quarter, declining 8% year-on-year due to challenging market conditions in China. • Car deliveries fell to 407,...
Mercedes sales in China fell, but the brand's electric cars made an unprecedented jump.
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