Corporate News
Slump in Electric Car Demand Hits Mercedes Sales in Q2

Mercedes-Benz saw a 6% decline in sales in the second quarter as demand for battery-electric vehicles slumped, the carmaker said on Wednesday, promising to make up lost ground with improved availability and market launches. The company said it sold 600,100 cars and vans in the second quarter of 2024. Of those, 51,000 were battery-electric vehicles, representing a 23% year-on-year drop. "The ramp-up of electric vehicles slowed in key markets, while the company focused on healthy growth in a market environment characterised by heavy discounting," Mercedes said in a statement.

News Source:- https://money.usnews.com/investing/news/articles/2024-07-10/slump-in-electric-car-demand-hits-mercedes-sales-in-q2