Mercedes-Benz Sales Drop 12% in Q3 Despite Electric CLA Boost
Mercedes-Benz has reported mixed sales figures for the third quarter. While the new electric CLA model has boosted electric car sales, overall figures show a decline compared to the same period last year. The luxury carmaker also faced a significant drop in sales in China.
From July to September, Mercedes-Benz sold 525,300 passenger cars and vans, marking a 12% decrease from the same period in 2021. This trend continued throughout the first nine months of the year, with a 9% decrease in sales to 1.6 million vehicles. The company's electric car sales, however, remained steady with 42,600 units sold in the third quarter, on par with the previous year.
The new electric CLA model has been a bright spot for Mercedes-Benz, contributing to the increase in luxury top-end model sales by 10% in the third quarter. The Mercedes GLC Electric, a focus of the company's electric offerings, is also performing well. However, the company faces strong competition from domestic manufacturers in China, where sales fell by 27% to 125,100 cars in the third quarter. Wealthy Chinese consumers are purchasing cars cautiously due to the real estate crisis. The US market also saw a 17% decrease in sales for Mercedes-Benz in the third quarter, with van sales dropping by 8% during the same period.
Despite the decline in overall sales, Mercedes-Benz's electric car sales have remained stable, thanks to models like the new electric CLA and the GLC Electric. The company continues to face challenges in the Chinese market and must navigate the cautious spending of wealthy consumers. As the competition intensifies, Mercedes-Benz will need to adapt its strategies to maintain its market position.
