financetom
Business
financetom
/
Business
/
Slump in electric car demand hits Mercedes sales in Q2
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Slump in electric car demand hits Mercedes sales in Q2
Jul 10, 2024 1:00 AM

BERLIN (Reuters) - Mercedes-Benz saw a 6% decline in sales in the second quarter as demand for battery-electric vehicles slumped, the carmaker said on Wednesday, promising to make up lost ground with improved availability and market launches.

The company said it sold 600,100 cars and vans in the second quarter of 2024. Of those, 51,000 were battery-electric vehicles, representing a 23% year-on-year drop.

"The ramp-up of electric vehicles slowed in key markets, while the company focused on healthy growth in a market environment characterised by heavy discounting," Mercedes said in a statement.

It said its cars segment expects a sales boost in the second half of the year due to improved product availability and market launches.

Rival BMW reported a 1.3% decrease in its overall sales in the second quarter. Its sales of battery-electric vehicles were up 22.2%.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Mercury General Expects Losses From Southern California Wildfires to Exceed $150 Million Retention Level; Shares Fall
Mercury General Expects Losses From Southern California Wildfires to Exceed $150 Million Retention Level; Shares Fall
Jan 10, 2025
10:05 AM EST, 01/10/2025 (MT Newswires) -- Mercury General ( MCY ) on Friday issued a preliminary assessment of the Southern California wildfires, anticipating losses to surpass its $150 million reinsurance retention level as evaluations continue. The company said its reinsurance program, which provides $1.29 billion in per-occurrence coverage after $150 million in retention, also covers California Fair Access to...
Soccer-Man Utd's Rashford back in contention for FA Cup clash at Arsenal
Soccer-Man Utd's Rashford back in contention for FA Cup clash at Arsenal
Jan 10, 2025
Jan 10 (Reuters) - Manchester United ( MANU ) forward Marcus Rashford is available for Sunday's FA Cup third-round tie at Arsenal after falling ill, manager Ruben Amorim said on Friday. The 27-year-old Rashford was left out of the squad for four straight matches before being an unused substitute in United's home defeat to Newcastle United on Dec. 30. The...
TD SYNNEX Delivers Strong Q4, Raises Dividend Amid IT Growth Momentum; Stock Gains
TD SYNNEX Delivers Strong Q4, Raises Dividend Amid IT Growth Momentum; Stock Gains
Jan 10, 2025
TD SYNNEX Corp ( SNX )  shares are trading higher on Friday after the company reported its fourth-quarter results. Quarterly revenue of $15.85 billion, up 10% Y/Y, exceeded the analyst view of $15.22 billion. The Fremont, California-based company reported an adjusted EPS of $3.09, beating the street view of $3.05. On a constant currency basis, revenue increased 9.2%, led by growth in both the Advanced Solutions and Endpoint Solutions portfolios. Adjusted gross billings...
BioCryst Pharmaceuticals Preliminary Q4 Revenue Rises
BioCryst Pharmaceuticals Preliminary Q4 Revenue Rises
Jan 10, 2025
10:02 AM EST, 01/10/2025 (MT Newswires) -- BioCryst Pharmaceuticals ( BCRX ) reported Friday preliminary Q4 revenue of $130.8 million, up 40% year over year. Analysts polled by FactSet expected $128.6 million. The company said it expects full-year 2025 revenue between $540 million and $560 million. Analysts polled by FactSet expect $536.4 million. Shares of the company fell 4.5% in...
Copyright 2023-2026 - www.financetom.com All Rights Reserved