
M-B has two divisions, Car and Van. Here we consider the former and the van article comes next. How is M-B managing in a somewhat volatile environment?
To the right, there is a chart showing quarterly wholesale delivery figures. Quarterly volumes don't vary much at all.
In 2023, it was the same as 2022 with slowish start and moderately successful second half. In 2024, a similar pattern but this time a -3% total.
For 2025, a different trend, one reflected in many car companies. That is an acceleration of fewer deliveries. This led to a -9% end of year result. Time to break it down further.
M-B divides model deliveries into three main categories, Entry, The Top End is holding up best and it's the most profitable segment, therefore not so bad.
The Entry and Core models were both down 10%. Mercedes is moving away from lower priced models to focus on its higher margin cars to increase profitability. I never understood why they ever went to the lower end of the premium market.
Region: Only the 'Rest' is up, 17%. Germany is too but still registered a zero. Europe (less Germany) is down ever so slightly at -2%,.
Asia (less China) -6%. North America is down 12% but the real negative is China (-19%). No surprise with the latter and maybe a good thing too.
Moving on to electric and hybrid cars. The chart to the right shows the last thee years. They were up 9% in 2023, down 9% in 2024 and the same in 2025.
Planning ahead for this area of the market has not been easy. Their adoption hasn't been as great as expected and incentives come and go.
For 2025, hybrids were up 9% to 199,877 but cars that are fully electric are down 9% to 168,823.
Many car companies have pulled back on how much they commit to this area, both in model development and production levels. Financial returns are not good enough in this area to justify it.
In conclusion, M-B is in the same situation as many other car makers. Volumes are down and there is a trend to move more up market. Chinese competition has arrived and even premium car makers are cautiously watching developments.
Data & photos: Mercedes-Benz.