Mercedes’ EV sales declined at the start of the year

Mercedes-Benz Cars sold 47,500 electric cars in the first quarter. That is less than at the start of 2023. EV sales in the van division also dropped in the first quarter.

Image: Mercedes-Benz

The Mercedes-Benz Group sold 50,500 BEVs in the first quarter of 2024. That includes sales from Mercedes-Benz Cars and Mercedes-Benz Vans division. Passenger cars accounted for the aforementioned 47,500 units, representing a decrease of eight per cent compared to Q1/2023 (51,600 BEVs).

However, Mercedes also sold fewer vehicles across all drive types. At the Group level, the figure was six per cent lower at 568,400 units, which means an electric share of 8.9 per cent. At Mercedes-Benz Passenger Cars, total sales fell by eight per cent to 463,000 vehicles, meaning the BEV share was 10.3 per cent. Sales of plug-in hybrids fell by two per cent to 42,700 vehicles. If the “xEVs” (a term Mercedes uses for BEVs and PHEVs) are added together, their share is still 19.5 per cent.

In comparison, in the first quarter of 2023, Mercedes-Benz Cars sold 51,600 electric cars, corresponding to an increase of 89 per cent. There was, therefore, a noticeable momentum in electric sales, which is now no longer present with a slightly declining quarterly result.

Mercedes does not explicitly state the reasons for the decline in electric vehicle sales. It does point out that the 47,500 units also include the last Smart Fortwo (production was discontinued at the end of March), which is why sales of this model fell by 30 per cent. However, the Smart Fortwo recently had a manageable share of total sales. The fact that Mercedes sold fewer vehicles overall is explained by “model changes and supply-chain constraints,” particularly in China. Mercedes does not comment on the development of sales of the individual electric model series.

The carmaker only made a concrete statement on the situation in Germany: “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.” However, the statement is not quantified.

With these figures, the Mercedes-Benz Group and the passenger car division are behind BMW in terms of total and electric sales. The German carmaker also presented its sales figures for the first quarter on Wednesday. It achieved significantly better results with 82,700 electric cars at Group level and 78,691 from the BMW brand. At BMW, electric sales increased by 28 per cent across the Group and more than 40 per cent for the BMW brand.

Mercedes hopes the upcoming premieres will increase momentum for the rest of the year, particularly in the top-end segment. Before the motor show in Beijing in April, the Stuttgart-based company will present the electric G-Class. It is striking that only the “G-Class” is mentioned and no longer the EQG, as was the case with the study shown at the IAA in 2021. It may herald the end of the EQ designation. The revised EQS will then be unveiled at the trade fair in Beijing. The “extensive update” offers a range of more than 800 kilometres, the required executive rear seats and an “upright star on the front hood.” Mercedes does not mention that the EQS is also likely to be converted from 400 to 800 volts.

At Mercedes-Benz Vans, sales across all drive types increased by seven per cent to 105,400 units, a record for Q1. The majority of sales were accounted for by light commercial vehicles (92,800 vehicles, +11 per cent), while sales of the V-Class and EQV private customer models fell by 16 per cent to 12,700 units due to the model changeover. And: “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,” the company says.

1 Comment

about „Mercedes’ EV sales declined at the start of the year“
12.04.2024 um 04:59
Just was told that my EQS SUV lost almost half its value in the first year.

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