Mercedes saw global car sales fall last year amid falling demand in key markets.
Figures published by the German brand last week show that the Mercedes-Benz Group sold a total of 2.39 million cars worldwide in 2024.
The figure represented a 4% decline compared to 2023 with struggles in key markets, such as China and Germany, negatively impacting results.
Breaking down sales by segment, Mercedes suffered a 14% drop in sales of its “high-end” models, moving 281,500 units over the year.
The brand’s “core” product performed well – up 6% to 1.16 million units – but entry-level inventory failed, resulting in a 14% drop in sales to 534,800.
The brand failed to match 2023 sales in several markets, including Europe (down 3% to 641,800 units) and Asia (down 7% to 892,100 units).
In its home market of Germany, Mercedes sold a total of 213,500 cars, representing a 9% decline compared to the previous year. Meanwhile, sales in China fell 7% to 683,600 units.
Some rare good news came in North America, where Mercedes saw sales rise 8% to 365,400 – the vast majority (324,500 units) were sold in the US, where sales were up 9%.
However, global sales of battery electric vehicles (BEVs) fell by 23% to 185,100 vehicles, which could result in significant fines if the trend continues.
Despite the bruising results, there was some reason for optimism, with both top and core stocks increasing sales in the final quarter of the year.
Total Q4 results of 625,800 units were also the best quarter of the year, despite being down 2% compared to the same period in 2023.
Reacting to the figures, Ola Källenius, Chairman of the Board of Mercedes-Benz Group AG, said: “In 2024, Mercedes-Benz once again demonstrated the power of our brand and the depth of our broad product offering.
“This culminated in strong sales of our flagship and core vehicles in the fourth quarter. We continue to consistently strengthen our portfolio with the largest product offensive in our company’s history starting this year with the all-new CLA.’
Britta Seeger, Mercedes board member responsible for marketing and sales, added: “We finished the year with a strong sales quarter, particularly with our Top-End vehicles and the G-Class in particular.
“I would like to express our thanks to our customers for their continued trust and loyalty in our brand and I look forward to the world premiere of our all-new CLA models with cutting-edge technology and stunning design.”
