Mercedes-Benz Cars: Top-End and EV sales soar in Q3 2023

The sales data provided for Mercedes-Benz Cars in the third quarter of 2023 and the year-to-date period (January to September 2023) reveals several key points:

1. Overall Sales: In Q3 2023, Mercedes-Benz Cars sold 510,600 units, which represents a 4% decrease compared to the same period in 2022. However, over the first nine months of the year, sales increased by 2% compared to the previous year.
2. Top-End Sales: Despite the overall decrease in Q3 sales, the Mercedes-Maybach line saw a significant increase in sales, with a 26% rise during the same period.
3. EV Sales: Sales of battery electric vehicles (BEVs) by Mercedes-Benz Cars had a strong performance, with a 66% increase in Q3. The EQS SUV specifically had a remarkable growth of 162% in Q3.
4. Hybrid and Electric Vehicles: Hybrid and electric vehicles accounted for 20% of overall sales. Battery electric car (BEV) sales increased by 66% in Q3 and almost doubled (+97%) in the first nine months of the year.
5. Total Sales: In the first nine months of 2023, Mercedes-Benz Cars achieved total sales of 1,529,800 units, which is in line with their full-year guidance of maintaining sales at the prior-year level.

Sales by Segment

• The top-end segment saw a 6% increase in the first nine months of the year but a decrease of 11% in Q3.
• Core segment had a slight decrease of 1% in Q3 and a 4% decrease in the year-to-date period.
• The entry segment experienced a 5% decrease in Q3 but a 10% increase in sales for the first nine months of the year.

Sales by Regions

• Europe had a strong performance with a 12% increase in Q3 and an 8% increase in sales for the year-to-date period.
• Sales in Germany increased by 11% in Q3 and 18% for the first nine months.
• Sales in Asia remained consistent year-to-date but decreased by 10% in Q3.
• Sales in China were stable year-to-date but decreased by 12% in Q3.
• North America saw a 13% decrease in Q3 and a 3% decrease for the year-to-date period.
• Battery electric vehicle (BEV) sales in the United States more than doubled in Q3.

1. Mercedes-AMG: Sales of Mercedes-AMG vehicles were impacted by model changeovers, particularly for the GLC, but BEV sales for Mercedes-AMG increased by 51% in Q3.
2. Specific Models: The G-Class saw an 11% increase in Q3 sales, even before a model makeover planned for 2024. The GLS SUV had a 3% increase in Q3 sales, and the all-electric EQS SUV more than doubled sales with a 162% increase.
3. S-Class Dominance in China: The Mercedes-Benz S-Class continued to perform well in China, with a 9% growth in the third quarter, achieving a dominant market share of over 50% in its segment.
4. Charging Infrastructure: Mercedes-Benz is expanding its charging options worldwide, with plans to install high-power charging stations and join a charging network joint venture in North America starting in 2024.
5. Customer Satisfaction: Mercedes-Benz ranked #1 in customer experience satisfaction among New Energy Vehicle (NEV) customers in China, according to a survey conducted by JD Power.
   
   Despite the challenges posed by the global supply chain crisis and the model changeover for the E-Class, Mercedes-Benz Cars delivered a solid performance in the third quarter of 2023. The company’s strong focus on Top-End and EV vehicles paid off, with sales in both segments growing year-over-year. Mercedes-Benz Cars also saw strong sales growth in Europe, while sales in Asia were flat and sales in North America decreased slightly. Overall, Mercedes-Benz Cars is well-positioned for continued growth in the future.
   
   Mercedes