Mercedes-Benz Reports Decline in H1 Revenue, Profit
TEHRAN (ANA)- German carmaker Mercedes-Benz Group reported a 4.1-percent year-on-year decrease in revenue for the first half (H1) of 2024, with net profit falling by 20 percent to 6.1 billion euros (6.6 billion U.S. dollars).
In its largest single market, China, the company saw a 5.5-percent revenue growth despite an overall decline of 3.9 percent in the second quarter, according to the figures.
With car sales falling in all major markets in H1, 341,516 units were sold in the Chinese market, marking an 8.8-percent decrease compared to the first six months of last year. Meanwhile, sales in the company's domestic market, Germany, plummeted by 16.2 percent to under 100,000 units.
Despite the declines, Mercedes-Benz CEO Ola Kaellenius assessed passenger car sales in the first six months as "robust in a challenging environment," noting that the company faced some restrictions in the first quarter but returned to a more normal sales pace in the following quarter.
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