Mercedes-Benz Group sold 568,400 (-6%) cars and vans in the first quarter.
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Mercedes-Benz Cars saw sales rise in the United States (%), and a solid performance in Europe, particularly in the UK (%) and France (%) while sales in Asia were influenced by model changes and supply-chain constraints. Mercedes-Benz Vans delivered a strong performance thanks to rising sales in China (%) and United States (%).
“Our customers can look forward to an exciting year 2024 with a series of fantastic new product launches in 2024, particularly in the Top-End segment.
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.”
Britta Seeger, Member of the Board of Management of Mercedes-Benz Group AG. Marketing & Sales
Mercedes-Benz Cars sales reached 463,000 units (-8%) in the first quarter, with solid results in all regions except Asia where model change effects and supply chain bottlenecks had a strong temporary impact on Q1 sales. The sales decline in China was mainly driven by the ongoing ramp-up of its top-selling E-Class long-wheelbase model which is expected to see sales accelerate in the upcoming quarters.
Demand for plug-in hybrid vehicles resulted in a 6% sales rise in the first three months, while global battery electric vehicle (BEV) sales of Mercedes-Benz Cars reached 47,500 units (-8%) in the first quarter, as the smart fortwo[1]?reached the end of its lifecycle (-30%). Overall, electric vehicles accounted for 10% of total Q1 Mercedes-Benz Cars sales and 19% including plug-in-hybrids.
The availability of Top-End products was constrained during the quarter, mainly by the model changeovers of the G-Class and Mercedes-AMG derivatives of the E-Class and GLC as well as supply-chain bottlenecks. In 2024, Mercedes-Benz will present twelve Top-End vehicles, including eight Mercedes-AMG models and the world premiere of the electric G. The EQS sedan will receive an extensive update with extended range to more than 800 km, executive rear seats, and the upright star on the front hood. The S-Class remains the undisputed leader in its segment in all key regions.
Q1 sales in the Core segment increased by 8%, driven by strong growth of the GLC as parts availability for the model increased. The availability of parts is expected to further improve in the upcoming months.
In China, the ramp-up of the locally produced long-wheelbase E-Class is on track, while sales for the Mercedes-Maybach S-Class remain strong (%) and Mercedes-Benz continues to be first choice among customers in the segment priced over 1 million RMB.
In Germany, Mercedes-Benz remains market leader in the premium segment in Q1. However, consumer demand for BEVs slowed following the abrupt end of a tax incentive.
In the U.S. market, sales went up 3% driven by an improved availability of the GLC.
Mercedes-Benz Cars continues transforming the car buying experience for its customers. As the 11th country, Mercedes-Benz Thailand implemented the direct sales model in February 2024.
Mercedes-Benz Vans increased its sales in the first three months of the year by 7% and for the first time hit the mark of more than 100,000 vans sold in a first quarter (105,400). Thus, the division achieved its best-ever Q1 sales result. Sales in Q1 have developed positively in the U.S. and China: The strategically important U.S. market achieved a sales increase of 15% to 16,100 vans making it the strongest sales market for Mercedes-Benz Vans after its home market Germany. In China, the Van division achieved a strong sales increase of around 27% with 7,700 midsize vans sold.
The demand for commercial vans remained at a high level, with growth of 11% to a total of 92,800 units sold. In the private segment, sales decreased to 12,700 units (-16%) due to the model change of V-Class and EQV. The demand for eVans lessened in the first three months to 3,000 eVans (-17%) which in Germany was caused by the abrupt end of a tax incentive. Full-year unit sales of Mercedes-Benz Vans are expected to be slightly below the record sales year of 2023.
Automotive market research reports cover various segments, including passenger vehicles, commercial vehicles, electric vehicles, and autonomous vehicles. Key players in the automotive sector include companies like Toyota, Volkswagen, General Motors, Ford, Honda, and Tesla.
