Mercedes-Benz Sees 25% Drop in Electric Vehicle Sales for Second Quarter 2024

Mercedes-Benz Reports Decline in Sales, Significant Drop in Electric Vehicle Numbers

Mercedes-Benz Cars has reported a global sales drop for passenger vehicles in the second quarter of 2024. The automaker sold 496,700 units, which marks a 4% decrease from the same period last year, continuing a trend of declining sales over four consecutive quarters.

Struggles in All-Electric Car Segment

The situation appears more challenging for the brand’s all-electric vehicle (EV) lineup. In Q2 2024, Mercedes-Benz and Smart—the latter being Mercedes’ electric-only sub-brand—combined to sell around 45,800 all-electric vehicles. This is a substantial 25% drop compared to the same quarter in 2023, leading to a decrease in the electric vehicles’ market share to 9.2%, down from nearly 12% in Q2 of the previous year.

Sales Performance: All-Electric and Plug-In Hybrid Vehicles

For context, Mercedes-Benz’s all-electric car sales set a record in 2023 with over 240,000 units sold. However, the first half of 2024 has seen a downturn of 17%, with sales amounting to just over 93,000 units. According to company representatives, the drop can be traced to a slower pace of EV adoption in key markets as the company focused on sustainable growth amid a market characterized by steep discounting.

Key Data Points:

• All-Electric (BEVs) Q2 2024: 45,800 units (down 25%)
• BEV Market Share Q2 2024: 9.2%
• Plug-In Hybrid (PHEVs) Q2 2024: 44,200 units (up 27%)
• PHEV Market Share Q2 2024: 8.9%
• Total Plug-In Cars Q2 2024: 90,000 units (down 6%)
• Overall Plug-In Market Share Q2 2024: 18.1%

Interestingly, while battery electric vehicles (BEVs) struggled, plug-in hybrid vehicles saw significant growth. PHEV sales rose about 27% year-over-year in Q2 2024, tallying 44,200 units.

First Half 2024: Cumulative Figures and Year-Over-Year Comparison

The collective performance for the first half of 2024 also reflected a decline in all-electric car sales, which dropped by 17% to approximately 93,400 units. In contrast, plug-in hybrid vehicles enjoyed a 16% increase, totaling nearly 87,000 units sold.

Year-Over-Year Changes H1 2024:

• BEVs: 93,400 units (down 17%)
• BEV Market Share: 9.7%
• PHEVs: 86,900 units (up 16%)
• PHEV Market Share: 9.1%
• Total Plug-In Cars: 180,100 units (down 4%)
• Overall Plug-In Market Share: 18.8%

In reference to 2023, the company had impressive all-electric car sales with over 240,000 units, predominantly under the Mercedes-Benz brand in addition to 18,000 Smart vehicles.

Mercedes-Benz Vans: A Mixed Performance

The company’s van division also reported mixed results for Q2 2024. Mercedes-Benz Vans recorded 103,400 vehicles sold, representing a 13% decline year-over-year. However, sales of electrically powered vans slightly improved by 3%, with 5,200 units sold, making up 5% of the total van sales compared to 4.3% the previous year. The van lineup includes models such as the EQV, eSprinter, eVito/eVito Tourer, and EQT/eCitan.

Conclusion

Mercedes-Benz Cars continues to experience a challenging market environment, especially evident in their declining all-electric vehicle sales in the first half of 2024. Focused on maintaining healthy growth amid a competitive landscape, the brand might need to reassess its strategy for EV adoption to regain momentum. The increase in plug-in hybrid vehicle sales offers a silver lining, indicating that hybrid technologies continue to attract consumers.

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Author:
William Kouch, Editor of Automotive.fyi