Mercedes-Benz Q2 sales fall, China competition intensifies

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Mercedes-Benz Q2 sales fall, China competition intensifies.

companies :: 2hrs ago :: source - reuters

By Reuters

(Reuters) - German carmaker Mercedes-Benz (MBGn.DE) said on Wednesday sales in its core car business continued to fall ‌in the second quarter, declining 8% year-on-year due to intense competition in China.

Car deliveries fell to 417,800 in the April-June period, the company said in ⁠a statement

In China, the drop was 30% compared to the same period last year, with the company pointing to "an intensifying competitive environment and the timing of the company's current product ramp-ups"

Second-quarter car sales rose by 10% ‌in ⁠the U.S. and 4% in Europe

Sales of battery-electric vehicles rose by 50% to 63,000 vehicles, which includes cars and vans

European carmakers face ⁠a cut-throat price war with local brands in China, the world's biggest auto ⁠market

Last month, Mercedes' rival BMW (BMWG.DE) slashed its 2026 core margin forecast to ⁠as low as 1%, citing difficulties in China

Reporting by Danny Callaghan and Rachel More; editing by Linda Pasquini

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