Mercedes-Benz’s 2024 car sales decline in tough year for automakers

German luxury carmaker Mercedes-Benz said on Friday that 2024 will be a difficult year for the auto industry, characterized by weaker demand due to the economic downturn, especially in key market China, which has led to a decline in sales of its core vehicles. announced.

Sales in the same year were 1,983,400 units, a 3% decrease compared to 2023, weighed down by a 7% decrease in China and a 3% decrease in Europe.

Annual sales of battery electric vehicles (BEVs) fell 23% to 185,100 units, putting pressure on automakers as tougher new EU CO2 emissions reduction targets come into effect this year. This could potentially mean a big pool deal and a hefty fine for Mercedes. BEV sales are not growing.

The company lowered its full-year profit margin target twice for 2024 and vowed to step up cost-cutting, joining a growing number of European rivals in blaming a weakening Chinese car market for declining profits and margins. Ta.

Sources told Reuters on Tuesday that Mercedes also plans to lower its medium-term profitability target as market conditions are unlikely to improve in the near future.