Mercedes-Benz Q2 sales fall, China competition intensifies
Mercedes-Benz Q2 sales fall, China competition intensifies July 8 (Reuters) - German carmaker Mercedes-Benz MBGn.DE 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 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)
((Email: danny.callaghan@thomsonreuters.com))