Mercedes-Benz Electric Car Sales Declined in the First Quarter of 2024

Mercedes-Benz Electric Car Sales Weakened In Q1 2024

Mercedes-Benz Cars reported a global car sales figure of 463,000 in the first quarter of 2024, marking an 8% decrease compared to the previous year. This decline was also reflected in the all-electric car sales figures.

During Q1, the combined sales of all-Electric cars from Mercedes-Benz and Smart (an electric-only brand) totaled approximately 47,500, down 8% year-over-year. This accounted for about 10% of the company’s total passenger car sales.

Mercedes-Benz Cars also sold a total of 90,200 plug-in passenger cars in Q1, showing a 2% decrease compared to the previous year. This allowed for the calculation of plug-in hybrid car sales at 42,700, which marked an increase of over 6% year-over-year.

The company attributed the overall Q1 results to supply chain bottlenecks. The discontinuation of the smart fortwo (down 30%) and reduced consumer demand for all-electric cars in key markets like Germany, following the end of a tax incentive, further impacted sales.

Meanwhile, BMW Group seems to have a stronger position in the electric car segment, with 82,700 units sold in Q1, representing a healthy growth rate of 28% year-over-year.

In the United States, Mercedes-Benz BEV sales amounted to 8,336, down by 4.5%.

Mercedes-Benz Vans separately reported 105,400 vehicle sales in Q1, marking a 6.6% increase year-over-year. This included sales of 3,000 all-electric vans, which saw a 17% decline compared to the previous year.

The van lineup features models like the EQV, eSprinter, eVito/eVito Tourer, and EQT/eCitan.