Mercedes-Benz 2024 automotive gross sales fall in powerful yr for automakers

Mercedes-Benz‘s core automotive gross sales fell in 2024, a tricky yr for the auto business marked by waning demand in a weak economic system, particularly in key market China, the German luxurious carmaker mentioned on Friday.

It bought 1,983,400 automobiles in the course of the yr, 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 autos, including strain on the carmaker as new, harsher EU CO2 emission discount targets take impact this yr, which might doubtlessly imply expensive pooling offers or hefty fines for Mercedes if the BEV gross sales do not decide up.

The automaker reduce its full-year revenue margin goal twice in 2024 and mentioned it’s going to step up value cuts, becoming a member of a rising variety of European rivals blaming a weakening Chinese language automotive marketplace for falling income 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 conversant in the matter advised Reuters on Tuesday.