MEMPHIS REISEN

Mercedes-Benz Electric Car Sales Weakened In Q1 2024

Mercedes-Benz Cars reports 463,000 global car sales during the first quarter of 2024, 8% less than a year ago. A similar decline concerns all-electric car sales.

In Q1, all-electric car sales of Mercedes-Benz and Smart (an electric-only brand) amounted to roughly 47,500 (down 8% year-over-year). It’s about 10% of the company’s total passenger car sales.

Mercedes-Benz electric car sales in 2023

In 2023, Mercedes-Benz Cars sold over 240,000 all-electric cars (including about 18,000 Smarts). This year, it might be challenging to improve the volume.

Mercedes-Benz Cars sold a total of 90,200 plug-in passenger cars (down 2% year-over-year), which allows us to calculate the plug-in hybrid car sales at 42,700 (up over 6% year-over-year).

The German manufacturer explains that the overall Q1 results were affected by supply chain bottlenecks. In the case of all-electric cars, the smart fortwo reached the end of its lifecycle (down 30%). On top of that, consumer demand for all-electric cars in Germany (one of Mercedes-Benz’s key markets) slowed following the abrupt end of a tax incentive.

It seems that at least for now, BMW Group is much stronger in the electric car segment (82,700 units in Q1), noting a healthy growth rate of 28% year-over-year.

Mercedes-Benz Cars global plug-in car sales in Q1’2024 (YOY change):

• BEVs: 47,500 (down 8%) and 10.3% market share
• PHEVs: 42,700 (up 7%) and 9.2% market share
• Total: 90,200 (down 2%) and 19.5% market share

In the United States, Mercedes-Benz BEV sales amounted to 8,336 (down 4.5%).

For reference, in 2023, Mercedes-Benz Cars sold more than 240,000 all-electric cars, including over 222,000 Mercedes-Benz (43,202 in the U.S.) and over 18,000 Smarts.

Mercedes-Benz Cars global plug-in car sales in Q1-Q4’2023 (YOY change):

• BEVs: 240,668 (up 61%) and 11.8% market share
  Mercedes-Benz: 222,600 (up 73%) and 11% share
  Smart: 18,100 (down 12%)

Mercedes-Benz Vans

Separately, Mercedes-Benz Vans announced 105,400 vehicle sales in Q1 (up 6.6% year-over-year), including 3,000 all-electric vans (down 17% year-over-year). EVs accounted for 2.8% of the total volume (compared to 3.6% a year ago).

The van lineup includes the EQV, eSprinter, eVito/eVito Tourer, and EQT/eCitan.

from left: Mercedes-Benz EQT, EQV, eSprinter, eVito, eCitan