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Mercedes-Benz’s passenger car sales fell in 2024, hurt by weak demand in China, the automaker’s largest single market, and a slump in battery-electric vehicle sales in Europe, the automaker said.
Mercedes sold 1,983,400 cars during the year, down 3 percent versus 2023, weighed down by a 7 percent drop in China and a 3 percent decline in Europe, the company said Jan. 10 in announcing preliminary sales figures.
Sales in the automaker’s home market, Germany, were down 9 percent. The U.S. was a bright spot, with sales up 8 percent to 324,500.
Combined car and van sales were down 4 percent for the year to 2,389,000.
Annual BEV sales dropped by 23 percent to 185,100 vehicles, adding pressure on the automaker as tougher EU CO2 emissions targets take effect this year, which could potentially mean costly pooling deals or hefty fines for Mercedes if the BEV sales do not pick up.
Mercedes has filed documents with the EU to pool its emissions with Volvo, which has surplus carbon credits, and EV-focused sister brand Polestar.
Mercedes expects to cut midterm profit targets
Mercedes cut its full-year profit margin target twice in 2024 and said it will step up cost cuts, joining a growing number of European automakers blaming a weakening Chinese car market for falling profits and margins.
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Mercedes also plans to lower its midterm profitability targets as market conditions are unlikely to improve in the near future, a source familiar with the matter told Reuters on on Jan. 7.
The automaker is due to report full-year 2024 financial results on Feb. 20.
Sales of Mercedes’ top-end models (AMG, Maybach, G-Class, S-Class and EQS) fell by 14 percent, the company said, largely on weaker sales in China. The decline undermines the company’s strategy under CEO Ola Kallenius to push further upmarket by selling more of its most luxurious vehicles to boost profit.
Core models (E- and C-Class) were up 6 percent, while entry models (A- and B-Class) were down 14 percent, as Mercedes moves to reduce the number of lower-priced models.
Van sales were down globally by 9 percent to 405,000, hampered by a 34 percent drop in the U.S. Europe sales van sales were up by 3 percent to 271,500.
Sales of full-electric vans fell by 14 percent to 19,500, or about 5 percent of the total.
Bloomberg and Reuters contributed to this report
Mercedes ha visto un calo delle vendite dei veicoli passeggeri del 3%, le BEV sono crollate del 23% con pessimi risultati per le Eq native.
Il 2025 dovrebbe vedere un aumento delle vendite grazie a GLC, kl. E e soprattutto CLA.
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