BMW and Mercedes-Benz have reported substantial declines in vehicle sales for the third quarter of 2024, primarily attributed to a sharp drop in demand in China. From July to September, BMW delivered 148,000 vehicles in China, marking a 30% decrease, while Mercedes-Benz's sales fell by 13% to 170,700 vehicles during the same period.
In addition to the downturn in the Chinese market, BMW faced supply chain issues, particularly with brake components from supplier Continental, resulting in 320,000 vehicles being withheld from delivery. Both automakers described the market environment as 'difficult' and 'challenging,' with Mercedes-Benz noting a decrease in overall demand for luxury goods and ongoing price reductions, particularly in the electric vehicle (EV) segment.
Globally, BMW's sales also declined by 13% to over 540,000 vehicles, with a 9% drop in the U.S. market, although they saw a slight increase of 1.4% in Europe. The company had already lowered its annual forecast in September due to these challenges, anticipating a significant drop in pre-tax profits compared to the previous year.
Mercedes-Benz sold 503,600 vehicles in the third quarter, just below last year's figures. The company also faced difficulties related to supplier Bosch. However, BMW reported a 10% increase in electric vehicle sales, delivering 103,000 EVs in the third quarter and a 19% increase year-to-date.
In contrast, Mercedes-Benz experienced a 31% drop in electric vehicle sales, delivering only 42,500 EVs in the third quarter, with approximately 136,000 EVs sold by the end of September, a decrease of over 20% from the previous year. Despite this, their plug-in hybrid sales saw a 10% increase in the same period.
Source: bild.de, Date: 2024-10-10