Mercedes-Benz Electric Car Sales Decreased 25% In Q2 2024

The company says that the EV adoption rate slowed down.

Mercedes-Benz AMG EQE SUV

Mark Kane

By: Mark Kane

Jul 12, 2024 at 3:30pm ET

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Mercedes-Benz Cars reports 496,700 global passenger car sales during the second quarter of 2024, 4% less than a year ago and it was the fourth consecutive negative quarter.

Unfortunately for the German brand, its all-electric car sales decreased even faster. In Q2, all-electric car sales of Mercedes-Benz and Smart, an electric-only brand, amounted to roughly 45,800 and were lower by 25% than a year earlier. It decreased the EV share to 9.2% from almost 12% in Q2 2023.

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Mercedes-Benz electric car sales decrease

After a record of over 240,000 all-electric car sales in 2023, Mercedes-Benz Cars noted a substantial decline in the first half of 2024. The volume is 17% lower than in H1 2023 at just over 93,000.

The company explained, "The pace of EV adoption eased in important markets as the company focused on healthy growth in a market environment characterized by heavy discounting." In other words, the demand is insufficient to maintain the previous sales volume without rebates.

The preliminary data indicate that Mercedes-Benz Cars sold a total of 90,000 plug-in passenger cars in Q2, down 6% year-over-year. Interestingly, its plug-in hybrid car sales improved by about 27% to 44,200.

Mercedes-Benz Cars global plug-in car sales in Q2'2024 (YOY change):

BEVs: 45,800 (down 25%) and 9.2% market share
PHEVs: 44,200 (up 27%) and 8.9% market share
Total: 90,000 (down 6%) and 18.1% market share

Mercedes-Benz Cars BEV Sales – Q2 2024

In the first half of the year, the total all-electric car sales decreased by 17% year-over-year to roughly 93,400 units. Meanwhile, plug-in hybrid car sales increased by 16% reaching nearly 87,000.

Mercedes-Benz Cars global plug-in car sales in Q1-Q2'2024 (YOY change):

BEVs: 93,400 (down 17%) and 9.7% market share
PHEVs: 86,900 (up 16%) and 9.1% market share
Total: 180,100 (down 4%) and 18.8% market share

For reference, in 2023, Mercedes-Benz Cars sold more than 240,000 all-electric cars, including over 222,000 Mercedes-Benz (43,202 in the U.S.) and over 18,000 Smarts.

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Mercedes-Benz Vans

Mercedes-Benz Vans announced 103,400 vehicle sales in Q2, down 13% year-over-year, including 5,200 all-electric vans, up 3% year-over-year. EVs accounted for 5% of the total volume compared to 4.3% a year ago.

The van lineup includes the EQV, eSprinter, eVito/eVito Tourer, and EQT/eCitan.

from left: Mercedes-Benz EQT, EQV, eSprinter, eVito, eCitan

Mercedes-Benz

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