Mercedes-Benz Experiences Significant Drop in U.S. EV Sales During Q2 2024

Mercedes-Benz Q2 2024 U.S. Car Sales Fall Amid Significant Drop in EV Sales

Mercedes-Benz experienced a challenging second quarter in 2024, with car sales in the United States reaching 84,662 units (excluding commercial vans), marking an almost 4% decline year-over-year. The primary factor driving this decrease was a substantial drop in electric vehicle (EV) sales.

Decline in EV Sales

Mercedes-Benz sold 9,640 all-electric passenger cars in Q2, a staggering 36% reduction compared to the same period last year. Consequently, the EV share of the total sales dwindled to 11.4%, down from 17.1% a year ago. This trend wasn’t isolated to the U.S.; the company noted a 25% drop in global EV sales as well.

The 9,640 units sold in Q2 include 3,173 units of the Mercedes-Benz EQB, 3,911 units of the EQE Sedan and SUV, and 2,556 units of the EQS Sedan and SUV.

Performance Breakdown

The EQB was the only model among the trio showing growth with an impressive 88% year-over-year increase, bouncing back from a lackluster Q1. Year-to-date figures for the EQB are comparable to H1 2023. On the other hand, the EQE family saw a significant 47% sales decline, while the EQS family plummeted 57% year-over-year. Detailed sales for individual models such as the EQE, EQE SUV, EQS, and EQS SUV were not provided by the manufacturer.

Mercedes-Benz BEV sales in Q2 2024 (YoY change):

• EQB: 3,173 (up 88%)
• EQE Sedan and SUV: 3,911 (down 47%)
• EQS Sedan and SUV: 2,556 (down 57%)
• Total: 9,640 (down 36%) and 11.4% share

* Starting from Q1 2024, Mercedes-Benz adjusted its sales reporting methodology to include both retail and wholesale figures, whereas prior data were retail sales only. Consequently, Q1 and Q2 2023 numbers have also been revised to the new methodology.

First Half of 2024

For the first half of the year, Mercedes-Benz managed to sell nearly 18,000 all-electric cars in the U.S., representing a 25% decrease compared to the same period last year. Despite this drop, EVs account for almost 12% of the brand’s total sales volume.

Adding to this, the automaker sold 642 units of the new all-electric eSprinter van. In comparison, Ford’s E-Transit van sold 6,301 units in H1 2024.

Mercedes-Benz BEV sales in H1 2024 (YoY change):

• EQB: 3,844 (up 4%)
• EQE Sedan and SUV: 9,024 (down 4%)
• EQS Sedan and SUV: 5,108 (down 52%)
• Total: 17,976 (down 25%) and 11.9% share

For perspective, Mercedes-Benz’s retail sales of electric cars in 2023 surged by 248% year-over-year to 43,202 units, which accounted for 15.3% of the company’s total volume.

Unfortunately, details regarding plug-in hybrid car sales were not disclosed.

Conclusion

The second quarter of 2024 has been a challenging period for Mercedes-Benz, primarily due to a significant drop in electric vehicle sales both in the U.S. and globally. Despite the struggles, the EQB model managed to demonstrate growth, signaling potential areas of resilience. As the automotive market continues to evolve, the brand must strategize effectively to navigate these challenges and leverage opportunities in the electric vehicle sector.

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By William Kouch, Editor of Automotive.fyi