Mercedes Q1 Results Driven By Sales Of G-Class, Mercedes-Maybach, Mercedes-AMG Vehicles

Mercedes-Benz Q1 results driven by sales of G-Class, Mercedes-AMG, Mercedes-Maybach and premium vans.

Sales at Mercedes-Benz Cars reached 503,483 units (+3%) in Q1, despite ongoing supply-chain disruptions.

Mercedes-Benz Vans significantly increased its global sales in the first quarter of 2023 to 98,885 units (+12%).

German luxury brand Mercedes-Benz Group AG says it achieved healthy first quarter financial results (Q1 2023) despite the continuing challenges in logistics, thanks to a rise in sales of Top-End vehicles and premium vans.

Strong sales of the boxy Mercedes-Benz G-Class, high-performance Mercedes-AMG and Mercedes-Maybach vehicles helped Mercedes-Benz Cars to achieve an adjusted Return on Sales of 14.8%.

First-quarter revenue increased 8% to €37.5 billion (Q1 2022 : €34.9 billion) while higher sales as well as a favorable product mix resulted in Earnings Before Interest and Taxes of €5.5 billion (Q1 2022: €5.2 billion).

“Our focus on Top-End cars and premium vans has made Mercedes-Benz more weatherproof, allowing us to accelerate our digital and electric transformation – even in a period of economic uncertainty.”

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“Ongoing cost discipline, combined with further key product launches like the all-electric Mercedes-Maybach EQS SUV will keep us on track to continue delivering sustainable results.” Harald Wilhelm, Chief Financial Officer of Mercedes-Benz Group AG

At Mercedes-Benz Cars, sales reached 503,483 units (+3%) in the first quarter, while sales at Mercedes-Benz Vans reached 98,885 units (+12%) despite ongoing supply-chain disruptions.

Sales in the Top-End segment rose to 91,772 units (+18%) while Mercedes-AMG sales increased by 44% to 40,330 units, based on new vehicle launches and a strong performance in the SUV segment.

In the Core segment, sales reached 248,383 units (-11%) impacted by model changeovers for the top-selling GLC and E-Class. Sales in the Entry segment grew by 27% to 163,328 units in the first quarter. smart sales reached 5,358 units (-14%).

Mercedes-Benz passenger car (excl. smart) BEV sales more than doubled in the first three months (+119%), while global sales of all-electric vans increased significantly in the first quarter of 2023 to 3,570 units (Q1 2022: 2,925).

Last month, Mercedes presented the all-electric Mercedes-Maybach EQS SUV at Auto Shanghai 2023, following the introduction of a plug-in hybrid version of the Mercedes-Maybach, the S 580 e earlier in the year.

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