Mercedes-Benz Posts 8% Drop in Electric Vehicle Sales in First-Quarter

By Editor


Mercedes-Benz has unveiled its performance figures for the first quarter of 2024, revealing a mixed bag of results with notable developments in its electric vehicle (BEV) segment.

Global sales of Mercedes-Benz Cars’ battery electric vehicles reached 47,500 units, marking an 8 percent decline compared to the same period last year. This dip can be attributed in part to the conclusion of the smart fortwo’s lifecycle, which experienced a significant 30 percent decrease in sales. However, electric vehicles still constituted 10 percent of total Q1 Mercedes-Benz Cars sales, with plug-in hybrids contributing an additional 9 percent, totaling 19 percent.

Looking ahead, Mercedes-Benz has ambitious plans for its lineup, with the announcement of twelve Top-End vehicles set to debut in 2024. Among these releases are eight Mercedes-AMG models and the highly anticipated world premiere of the electric G, scheduled to take place at Auto China in Beijing in two weeks.

Britta Seeger, Member of the Board of Management of Mercedes-Benz Group AG, expressed enthusiasm about the upcoming launch, stating, “One of the highlights is just around the corner with the long-awaited world premiere of the all-new electric G at Auto China in Beijing in two weeks.”

Despite challenges in the market, Mercedes-Benz Group managed to deliver a total of 568,400 cars and vans in the first quarter, reflecting a modest 6 percent decline. Notable bright spots included a 3 percent increase in sales for Mercedes-Benz Cars in the United States, as well as strong performances in Europe, particularly in the UK (+43 percent) and France (+35 percent). However, sales in Asia were impacted by model changes and supply-chain constraints.

Mercedes-Benz Vans demonstrated a robust performance, driven by increased sales in key markets such as China (+27 percent) and the United States (+15 percent).

Mercedes-Benz Cars recorded sales of 463,000 units in the first quarter, representing an 8 percent decline. Despite this, the company maintained solid results across all regions except Asia, where temporary impacts from model changes and supply chain challenges were more pronounced. In China, the sales decline was primarily attributed to the ongoing ramp-up of the top-selling E-Class long-wheelbase model, with expectations of sales acceleration in the coming quarters.

Baburajan Kizhakedath

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