Mercedes-Benz 2024 automobile gross sales fall in robust 12 months for automakers

Mercedes-Benz’s core automobile gross sales fell in 2024, a tricky 12 months for the auto trade marked by waning demand in a weak economic system, particularly in key market China, the German luxurious carmaker mentioned on Friday.

It offered 1,983,400 automobiles through the 12 months, down 3% versus 2023, weighed down by a 7% drop in China and a 3% decline in Europe.

Annual gross sales of battery-electric automobiles (BEV) dropped by 23% to 185,100 automobiles, including strain on the carmaker as new, harsher EU CO2 emission discount targets take impact this 12 months, which might doubtlessly imply pricey pooling offers or hefty fines for Mercedes if the BEV gross sales do not choose up.

The automaker reduce its full-year revenue margin goal twice in 2024 and mentioned it can step up price cuts, becoming a member of a rising variety of European rivals blaming a weakening Chinese language automobile marketplace for falling earnings and margins.

Mercedes additionally plans to decrease its mid-term profitability targets as market circumstances are unlikely to enhance within the close to future, a supply acquainted with the matter advised Reuters on Tuesday.

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