Green Asia

China market hard going for BMW and Mercedes in third quarter

BERLIN :German high-end carmakers Mercedes-Benz and BMW saw their sales in China dip in the third quarter, the two companies said on Tuesday, with Mercedes hit by supply chain issues and model changes.

Mercedes-Benz’s supply issues affected its global sales, which fell 4 per cent year-on-year in July-September, although the company said it was still on track to meet its full-year guidance for flat sales growth.

“Volumes were impacted by a model changeover for the E-Class and a supply-chain bottleneck which constrained availability of the GLC (luxury SUV model),” the company said in a statement as it reported that a fall in global wholesale figures to 510,600 vehicles in the third quarter. Sales in China slumped 12 per cent from a year earlier.

BMW fared better, reporting a 5.8 per cent rise in its global retail sales to 621,699 vehicles in July-September, but said retail sales in China of BMW and Mini models dropped 1.8 per cent.

Carmakers have struggled in China this year with weakened demand and deepening price competition, though passenger vehicle sales returned to growth in August.

BMW said that year-to-date sales in China were up 1.7 per cent despite the drag on sales in the third quarter, while Mercedes-Benz nine-month wholesale figures in the country were at the previous year’s level.

Mercedes-Benz said its total sales globally this year so far were up 2 per cent from last year, in line with its full-year guidance for sales at the prior year level.

It does not disclose detailed retailed sales but a spokesperson said they were positive in the third quarter and on a nine-month basis.

BMW said its global retail sales were up 5.1 per cent so far this year.

(Writing by Victoria Waldersee, Miranda Murray, Editing by Friederike Heine and Susan Fenton)

Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button