Mercedes global sales fall 6% as electric car sales hit record high
Mercedes-Benz shares fell after the German carmaker reported a 6% fall in global sales, driven by weakness in China. Sales outside China edged higher, supported by growth in Europe and North America.
On Wednesday, Mercedes-Benz shares plunged by 4% before recovering slightly after the company announced a 6% drop in global sales for the third quarter of 2026, compared to the same period a year earlier. This decline was driven by weakness in China, where sales plummeted 31%.
Despite the setbacks, growth in Europe, North America, and record battery-electric vehicle (BEV) sales helped cushion the decline. Mercedes-Benz Cars achieved the highest quarterly BEV sales in its history, with the electric GLC model seeing a more than threefold increase in sales compared to Q2. The GLC and E-Class models together accounted for nearly two-thirds of the company's sales in China.
China accounted for nearly a quarter of Mercedes-Benz's global car sales in the second quarter, making it a crucial market for the German manufacturer. The company's full-year car sales and group revenue forecasts were cut in July due to continued weakness in China, citing tougher competition, subdued demand, and changes in its model range.
Excluding China, group sales increased by 2%, while car sales alone rose by 1%. In Europe, Mercedes-Benz Cars recorded record quarterly BEV sales, up 78% year on year and 24% from the second quarter. The new electric models GLC, CLA, GLB, and GLA were in high demand, with orders extending into 2027.
Mercedes-Benz's plants in Bremen, Rastatt, and Kecskemét, Germany, and Hungary, were operating on three-shift schedules to meet the soaring demand. Fully electric vehicles made up a record 16.8% of global car sales, up 7.2 percentage points from the previous quarter. Overall European car sales rose by 5% to 168,700 vehicles, driven by growth in Germany (13%) and the UK (7%).
In North America, Mercedes-Benz Cars sales increased by 4% to 83,200 vehicles, with US sales growing by 6%. For the first nine months of 2026, Mercedes-Benz sold 1,244,400 cars, a 7% drop from the same period the previous year. However, sales of fully electric cars rose by 40% to 165,500 units.
Written by urgent.news from Euronews Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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