Mercedes-Benz Sales Plummet 12% in Q3 as Chinese EV Rivals Gain Ground
Mercedes-Benz has reported a significant drop in sales for the third quarter, with a 12% decline in passenger car and van deliveries to dealers. The luxury carmaker delivered 525,300 units from July to September, impacted by strong competition and stock market conditions.
The German automaker's struggles are particularly evident in China, where local electric vehicle (EV) manufacturers like BYD, Nio, and Xiaomi have made substantial gains in market share. These companies offer innovative, well-equipped, and competitively priced electric cars, putting pressure on Mercedes-Benz and other premium brands such as BMW and Porsche.
Wealthy Chinese consumers have also been cautious about spending due to the property crisis, further affecting Mercedes-Benz's sales in the region. The company's sales in China and the USA declined by 27% and 17% respectively in the third quarter.
Despite these challenges, Mercedes-Benz's electric car sales remained stable. The introduction of the new full-electric CLA model contributed to this, with 42,600 units sold in the quarter, marking a 16% increase from the second quarter.
In the first nine months of the year, Mercedes-Benz's sales of passenger cars and vans fell by 9% to around 1.6 million vehicles. The company faces intense competition in the Chinese market and is working to adapt its strategies to maintain its position in the premium car segment.
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