Mercedes-Benz’s third-quarter revenue was 37.2 billion euros, and the net profit was 3.719 billion euros, falling short of expectations.

Mercedes-Benz's Q3 Revenue Falls Short with 37.2B Euros, Net Profit at 3.719B Euros, Disappointing Investors

【PhoneAuto News】Recently, PhoneAuto noticed that the Mercedes-Benz Group has released its financial performance for the third quarter of 2023. The data shows that the group’s operating income for the third quarter of this year was 37.2 billion euros (approximately 287.4 billion yuan), a year-on-year decrease of 1.4%; net profit was 3.719 billion euros (approximately 28.7 billion yuan), a year-on-year decrease of 7.0%. According to reports, due to the significant decline in Mercedes’ third-quarter performance and lower-than-expected revenue, the stock price plummeted.

According to the financial report, thanks to the sales performance and overall pricing of Mercedes-Maybach and G-Class cars in the high-end market, the adjusted Return on Sales (RoS) for Mercedes-Benz cars in the third quarter was 12.4%, slightly lower than the 14.5% in the same period last year; the adjusted Return on Sales for Mercedes-Benz commercial vehicles in the third quarter was 15.0%, higher than the 12.7% in the same period last year.

The financial report also shows that global sales of Mercedes-Benz in the third quarter of this year were 510,600 vehicles, a year-on-year decrease of 4%; among them, new energy vehicles (including pure electric and plug-in hybrid models) accounted for 20% of total sales. From January to September this year, Mercedes-Benz’s global cumulative sales reached 1,529,800 vehicles, a year-on-year increase of 2%. For reference, in 2022, Mercedes-Benz delivered a total of 2,043,900 new vehicles globally, of which 117,800 were pure electric models, a year-on-year growth of 124%, but accounting for only 5.8% of total sales.

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Combining the previously released data, in the third quarter of 2023, Mercedes-Benz delivered over 201,500 new vehicles to the domestic car market; in the first nine months, total deliveries exceeded 578,700 new vehicles, a year-on-year increase of 3%. In terms of new energy vehicle models, in the third quarter, Mercedes-Benz’s pure electric vehicle deliveries increased by over 70% compared to the previous year; plug-in hybrid models continue to lead the luxury car market.

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