In a recent report, BMW emerged as the top-selling premium carmaker in Germany, outperforming Mercedes-Benz and Porsche in terms of sales. BMW experienced a 2.3% increase in total sales in the first half of the year, reaching nearly 1.1 million vehicles. Of particular note is the significant boost in battery-electric deliveries, with a 34% surge equating to almost 180,000 cars.
On the other hand, Mercedes-Benz struggled with lower demand, selling approximately half as many battery-electric cars (93,400) compared to BMW. The total sales for the Mercedes-Benz core brand dropped by 6% to 960,000 vehicles.
Mercedes-Benz attributed the slowdown in electric vehicle ramp-up to market conditions characterized by heavy discounting. Car manufacturers have been reducing prices of electric vehicles, especially in China, to stimulate sales amidst subdued demand and increased competition.
Despite the challenges faced by Mercedes-Benz, Porsche, and Audi, the upcoming launch of new models is expected to help recover lost ground and drive sales growth. Audi’s sales fell by 8% in the first half of the year, while Porsche experienced a 7% decline, particularly in China.
Analysts predict an improvement in revenue for Porsche in the second quarter due to increased availability of top-end models, aligning with forecasted margins of 15% to 17%. Deutsche Bank analyst Tim Rokossa expressed optimism towards Porsche’s stock performance following a pre-close call with company executives.
