Mercedes-Benz Global Q1 Sales Drop 6%, China Plunges 27%

In the first quarter of 2024, Mercedes-Benz Group reported global sales of 499,700 vehicles, a 6% year-over-year decline. Sales of the Mercedes-Benz brand totaled 419,400 units, also down 6%. Battery electric vehicle (BEV) sales bucked the downward trend, with the Group delivering 50,400 all-electric vehicles globally, up 11% year-over-year; BEV deliveries under the Mercedes-Benz brand reached 44,300 units, an increase of 9%. By model segment, sales of high-end models—including AMG, Maybach, G-Class, S-Class, GLS, EQS, and EQS SUV—reached 61,500 units, down 5% year-over-year. Core models—including the C-Class, E-Class, and their electric counterparts in the EQE family—sold 248,000 units, a 6% decrease. Entry-level models—including the A-Class, B-Class, and their electric variants EQA and EQB—recorded sales of 109,800 units, down 7%. Regionally, European sales totaled 158,400 vehicles, up 7% year-over-year, with the German market growing by 9%. North American sales reached 89,600 units, up 16%, driven by a 20% surge in the U.S. market to 81,100 units. Sales in Asia declined by 23% to 153,500 units, with China accounting for 111,600 units—a 27% year-over-year drop. Sales in the rest of the world totaled 17,900 units, down 14%. Mercedes-Benz attributed part of the decline in China to the phased-out production of entry-level models ahead of new model launches and described 2026 as a “transition year” for the Chinese market. In the U.S., despite challenges posed by high tariffs, the company plans to enhance product localization and value creation. Additionally, Mercedes-Benz continues to lead the ultra-luxury segment priced above RMB 1 million.