The year 2024 marked a serious setback for Mercedes-Benz in the electric vehicle market. With a drop in 23 %sales of electric models only reached 185,100 unitscompared to 240,000 the previous year. This decrease comes as the brand seeks to establish itself in a market dominated by players like Tesla et BYDwhich continue to grow.
The German manufacturer, although a pioneer in the electrification of its ranges, seems to have difficulty keeping up with the pace imposed by its competitors, particularly in terms of price and accessibility. EQ models have not been able to sufficiently convince new buyers in the face of more affordable and often better equipped alternatives.
The weight of the Chinese market in the debacle
China, a key market for Mercedes-Benz, particularly suffered with a drop in sales of 7 % in 2024. In a context of fierce competition and economic slowdown, Chinese consumers are increasingly turning to local brands like BYD and NIO, which offer competitive models at attractive prices.
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Additionally, the premium positioning from Mercedes, although an asset in normal times, becomes a hindrance in the face of buyers who are more sensitive to value for money. Chinese government subsidies, often directed towards local vehicles, further complicate the task for the German brand.
A strategic adjustment in progress
To respond to this crisis, Mercedes-Benz had to lower its ambitions. The manufacturer announced drastic cost reduction measuresin particular by optimizing production and limiting non-essential expenses. At the same time, the brand is working to strengthen the competitiveness of its electric range by offering more affordable models.
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Mercedes is also banking on technological innovation to once again attract buyers. Higher-performance batteries and advanced features, such as Level 3 autonomous driving systems, are being developed to boost its sales.
This setback for Mercedes-Benz reflects the broader challenges facing legacy manufacturers in their transition to electric. As production costs remain high and consumer expectations evolve, it becomes imperative for premium brands to strike a balance between luxurious et affordable.
