Mercedes, Porsche Report Lower Q1 Sales

Both German automotive giants, Mercedes Benz and Porsche AG reported slight drop in car sales, Mercedes-Benz saw sales reached 463,000 units which was an -8% drop against the previous years quarter one.

The group said the results was solid in all regions except Asia where model change effects and supply chain bottlenecks had a strong temporary impact. Mercedes said 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 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.  

Porsche however saw deliveries remain stable in the first three months of the year. Overall, the sports car manufacturer delivered 77,640 vehicles to customers around the world between January and March which was a moderate decline of four per cent against the previous year.

In Europe (excluding Germany), Porsche delivered 20,044 cars in the first quarter, an increase of nine per cent over the same period the previous year. In the company’s home market of Germany, the number of vehicles delivered rose by as much as 37 per cent. In total, 11,274 units were delivered to customers. In China, the sports car manufacturer delivered 16,340 vehicles from January to March – a decrease of 24 per cent.

It said the key reasons for this are the focus on value-oriented sales, the continued tense economic situation in the Chinese market and a strong equivalent period in the previous year due to initial post-COVID catch-up effects

Previous articleChina Asks US To Cease Supporting ‘Taiwan Independence’
Next articleHang Seng Rallies Despite Fitch Downgrade On China


Please enter your comment!
Please enter your name here