American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Politics

Mercedes-Benz car sales decline in 2024 amidst challenging market conditions

by admin January 12, 2025
January 12, 2025

Mercedes-Benz experienced a decline in core car sales throughout 2024, reflecting a challenging year for the auto industry, marked by weakening demand in a fragile global economy, particularly in key market China, the German luxury automaker reported on Friday.

This downturn in sales, coupled with disappointing electric vehicle numbers, is putting pressure on the carmaker as it navigates a difficult economic landscape.

Sales decline across key markets

The company sold 1,983,400 cars during the year, a 3% decrease compared to 2023, with sales significantly impacted by a 7% drop in China and a 3% decline in Europe.

These figures highlight the broad nature of the challenges facing Mercedes, as sales fell in two of its key regions.

The automaker’s battery-electric vehicle (BEV) sales fell by 23% to 185,100 vehicles, adding more pressure to the company’s performance.

This significant drop in EV sales comes as new, stricter EU CO2 emission reduction targets take effect this year, which could potentially mean costly pooling deals or substantial fines for Mercedes if the BEV sales numbers do not improve.

Profit targets lowered as market outlook dims

Mercedes-Benz cut its full-year profit margin target twice in 2024 and has said it will further intensify cost-cutting measures. The automaker joins a growing number of European rivals citing a weakening Chinese car market as the primary reason for reduced profits and margins.

Reuters reported on Tuesday that Mercedes also plans to lower its mid-term profitability targets, as market conditions are not expected to improve significantly in the near future, according to a source familiar with the matter.

Full-year financial results awaited

The carmaker is scheduled to report its full-year 2024 financial results on February 20, at which time the extent of the year’s challenges will be clarified.

These results will be closely watched by investors, analysts, and industry watchers as they provide a comprehensive overview of the carmaker’s financial performance in 2024 and the potential impact of recent market developments on its future strategy.

The post Mercedes-Benz car sales decline in 2024 amidst challenging market conditions appeared first on Invezz

0
FacebookTwitterGoogle +Pinterest
previous post
Venezuela on the edge: why January 10 is crucial for its future
next post
Trump’s inaugural crypto ball: are $100K tickets worth the buzz?

Related Posts

Donald Trump wins U.S. Virgin Islands Republican presidential...

February 10, 2024

Visa’s token service fuels $3.5B in Latin American...

February 15, 2025

Could verdict in Trump criminal trial upend the...

May 31, 2024

Harris edges closer to Trump in new poll...

July 26, 2024

‘Damning’ report details Biden admin’s Big Tech ‘censorship’...

May 5, 2024

Ex-Rep. Charlie Rangel, 94, questions whether Biden belongs...

July 2, 2024

Clinton jabs at Trump legal woes: He’s the...

March 21, 2024

Top 2 underperforming semiconductor stocks Jim Cramer recommends...

January 26, 2025

Johnson floats defunding special counsel’s office amid Jack...

May 17, 2024

TikTok ban update: Supreme Court deliberates potential US...

January 12, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • Zinc prices rally on US rate cut hopes, despite supply oversupply

      August 27, 2025
    • Mitsubishi exits Japanese offshore wind projects citing soaring costs

      August 27, 2025
    • FBI raid on John Bolton’s home in Washington linked to classified documents

      August 25, 2025
    • Argentine senate deals blow to Milei’s austerity agenda with university budget boost

      August 25, 2025
    • Jackson Hole Symposium: what Powell said about economic effects of Trump’s tariffs

      August 25, 2025

    Categories

    • Business (3,773)
    • Investing (2,787)
    • Latest News (2,050)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved