Mercedes-Benz and Volkswagen reported lower first-quarter profits due to weaker demand and model changes. Volkswagen's operating profit dropped by 20% while Mercedes' earnings plummeted by 34%. Both companies faced challenges from introducing new models and sluggish demand for EVs. The automakers, along with Stellantis, experienced lower sales and revenue as they prepared to launch new models amid weaker consumer demand and high interest rates in Europe.
European Automakers Are Struggling With Falling Demand https://t.co/v7kHI2TB5M
"#Europe’s largest carmakers suffered a Q1 slowdown amid slower demand in #China & at home... At VW, profits ⬇️20% YoY...Stellantis posted a bigger than expected revenue fall...Mercedes-Benz saw earnings ⬇️30%, as both sales volumes & margins fell" https://t.co/QzsD5eQWcS
WATCH: Three of Europe's biggest automakers endured a tough start to the year. Volkswagen, Mercedes-Benz and Stellantis all posted lower sales and first-quarter revenue as they faced weaker consumer demand and rising competition https://t.co/SsgbuXPFzT https://t.co/qHCPntzFnf
Three of Europe's biggest automakers endured a tough start to the year. Volkswagen, Mercedes-Benz and Stellantis all posted lower sales and first-quarter revenue as they faced weaker consumer demand and rising competition https://t.co/Cu7tVdxsY2 https://t.co/SUYTuhbRdq
Mercedes-Benz's Q1 2024 report shows revenues are down, but its share of EV sales is growing https://t.co/yjK1WXjF7M by @scooterdoll
Volkswagen Group's profits dropped 20% in Q1, but it remains confident in hitting 2024 targets https://t.co/5oGNteK7kD by @scooterdoll
WATCH: European car giants Volkswagen, Mercedes-Benz and Stellantis all posted lower sales and first-quarter revenue as they geared up to launch new models, faced higher costs and were hit by weaker demand for new cars as interest rates remain high https://t.co/SsgbuXPFzT https://t.co/9gPlkhCGL1
European car giants Volkswagen, Mercedes-Benz and Stellantis all posted lower sales and first-quarter revenue as they geared up to launch new models, faced higher costs and were hit by weaker demand for new cars as interest rates remain high https://t.co/Cu7tVdwV8u https://t.co/ZMcg4fTH8s
Europe’s automakers off to a weak start for 2024, with EV sales a problem for some https://t.co/jzpqgBEsNw
Shift to new models, weak demand hit Europe's automakers https://t.co/4Pu4rPLcWN https://t.co/KZLOqr33Rv
⚠️ SHIFT TO NEW MODELS, WEAK DEMAND HIT EUROPE'S AUTOMAKERS Full Story → https://t.co/G2Us3s6Uve Volkswagen, Mercedes-Benz and Stellantis all posted lower sales and first-quarter revenue on Tuesday as they geared up to launch new models and faced weaker consumer demand for… https://t.co/vmAUc8DRrl
NEWS: Mercedes earnings plummeted 34% in the first quarter, weighed down by model changes and sluggish demand for its EVs. https://t.co/I2RpCW41Re
NEWS: Volkswagen on Tuesday said its operating profit dropped by 20% in the first quarter as weaker demand for its premium brands drove a drop in sales. https://t.co/AV9ZgrULH9
Volkswagen profit drops 20% in first quarter on lower sales https://t.co/LnqocdDsek
Volkswagen AG’s first-quarter earnings fell more than expected after waning car sales and the cost of introducing new models weighed on profitability https://t.co/mmDT3ENnuH
⚠️ MERCEDES-BENZ VOWS TO DEFEND PRICING LEVELS AFTER IN-LINE Q1 PROFIT DROP Full Story → https://t.co/C9pNo9tk8T Mercedes-Benz on Tuesday reported lower first-quarter profits and sales that were in line with expectations, adding it would hold and defend high pricing levels… https://t.co/yn9JyuSmnI