Mercedes-Benz Group on Wednesday reported a moderate vehicle sales growth during the first quarter, underpinned by electric vehicles and premium cars.
The group’s international sales rose 3% year-on-year to 503,500 vehicles. Among regions, Europe registered the largest sales growth rate – 8% year-on-year.
Electric vehicles drove sales growth during the quarter, as sales in the segment nearly doubled to 51,600 units.
Mercedes-Benz Group’s top-end segment, which encompasses models such as Maybach, AMG and G-class, registered an 18% year-on-year sales growth to 91,800 units during the period.
Company board member Britta Seeger said results were robust in both segments “despite ongoing supply chain disruptions, economic headwinds and geopolitical uncertainties.”
Meanwhile, Mercedes-Benz Vans division saw a 12% year-on-year increase in sales during the latest quarter to 98,900 vehicles.
The shares of Mercedes-Benz Group AG (MBGn) were last gaining 0.94% (EUR 0.650) to trade at EUR 69.530 on Xetra on Wednesday, while extending the gain from the prior session.
The auto maker’s total market cap now stands at EUR 72.556 billion.
The shares of Mercedes-Benz Group AG went down 9.16% in 2022, compared with a 12.35% loss for the benchmark index, DAX (GDAXI).
The shares have risen 13.24% so far this year.
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