Mercedes-Benz Cars experienced a notable decline in electric vehicle (EV) sales between July and September 2024, delivering 42,500 electric cars in the third quarter—a 31% drop compared to Q3 2023 and 7% below the previous quarter’s figure of 45,800 BEVs. At the group level, including both cars and vans, Mercedes-Benz sold 46,900 electric vehicles, reflecting the same 31% year-on-year decline and an 8% dip from Q2 2024.
In contrast, BMW Group reported a positive trend in its Q3 sales figures, with electric vehicle deliveries rising by 10.1% to 103,440 units, marking the second consecutive quarter in which BMW surpassed the six-digit sales mark for EVs. For the year, BMW has sold 294,054 BEVs, significantly outpacing Mercedes-Benz, which has recorded 148,500 EV sales, representing a 22% year-on-year decline. Even when including plug-in hybrids, Mercedes’ total of 267,400 electrified vehicles remains below BMW’s pure BEV sales.
While Mercedes-Benz has struggled to maintain momentum in the EV market, its plug-in hybrid sales rose by 21.4% year-on-year to 44,700 units, constituting over half of the company’s total ‘xEV’ sales. By comparison, BMW saw a 20% drop in plug-in hybrid sales in the same period. Despite the ongoing challenges in the EV segment, Mercedes-Benz Group’s overall vehicle sales—across all drive types—fell by only 3% year-on-year to 594,600 units, bolstered by stable sales in Europe and a 29% growth in the U.S. market.
However, with only 7.9% of its total sales attributed to BEVs, Mercedes-Benz faces mounting pressure to meet CO2 fleet targets in 2025. The company acknowledged the challenging market environment for BEV sales, citing fierce competition and pricing pressures in key markets. Mercedes has opted to limit its participation in the current discount battles, potentially impacting its sales volume further.
In the van segment, Mercedes-Benz also struggled, selling just 4,400 electric vans in Q3—a 31% year-on-year decline and 16% below Q2 2024. For the year, electric van deliveries are down 16% with 12,600 units sold. Mercedes-Benz Vans attributed the drop to reduced global demand for fully electric vehicles but maintained a stable 5% share of all-electric vans in Q3.
