Mercedes-Benz revealed that it recorded a 24.6% drop in the first three months of 2024, compared to the same period in 2023, to €2974 million, due to the decrease in revenues and sales of passenger cars.
The German automaker announced that turnover, in turn, fell 4% in the first quarter to €35,873 million, compared to the same period of the previous year, in a challenging environment marked by supply chain constraints and an uncertain global economy.
Earnings before interest and taxes (ebit) declined 30% in the first quarter, to €3863 million, while cost of sales increased by 2.5%, to €28,767 million.
By business area, Mercedes-Benz Cars, which includes passenger car sales, reported a turnover of €25,713 million until March, down 8% year-on-year, after sales fell by the same percentage to 462,978 units. In addition, its ebit fell 41% to €2456 million, while sales profitability decreased to 9%, down from 14.9% a year earlier.
As for Mercedes-Benz Vans, revenues increased by 6%, to €4893 million, while its ebit grew by 22% to €933 million, in a period where it sold 105,425 units, which is a 7% increase.
The German car manufacturer also confirmed its forecasts for 2024, a year in which it expects revenues to be at the same level as in 2023, although it remains attentive to global macroeconomic and geopolitical outlooks.
