(Reuters) – German carmaker Mercedes-Benz 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), opens new tab 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
