Mercedes-Benz Group reports a moderate increase in sales for Q1 2023, primarily driven by sales of electric vehicles (EVs) and premium cars. The German automaker announced on Wednesday that it had sold a total of 503,500 vehicles globally, representing a 3% increase from the same period last year. The strongest growth was recorded in Europe, where sales grew by 8%.
However, the rest of the world saw a decline in sales, with numbers dropping by almost a quarter. This can be attributed to the company’s decision to halt export and production in Russia in March last year.
Despite the ongoing supply chain disruptions, economic headwinds, and geopolitical uncertainties, Mercedes-Benz experienced significant growth in EV sales. In the first quarter of 2023, the company sold almost double the number of EVs compared to the same period in 2022, totaling 51,600 units.
The top-end segment, which includes models such as AMG, Maybach, and G-class, also demonstrated solid growth, with sales increasing by 18% to reach 91,800 for the period. Britta Seeger, a board member of Mercedes, expressed satisfaction with the strong results of both segments.
Mercedes-Benz Vans division also reported growth, with sales increasing by 12% to reach 98,900 – its best first-quarter result ever. This positive trend was also observed by Volvo, a Swedish peer, which reported record first-quarter profits. It’s a sign that the industry has started to overcome bottlenecks and inflation that have previously hampered growth.
The growth in EV sales and premium cars has contributed to a moderate rise in Mercedes-Benz Group’s sales for the first quarter of 2023. The company continues to face challenges such as supply chain disruptions and geopolitical uncertainties, but its strong results show its ability to adapt and thrive in a rapidly changing market.
