# Mercedes posts rise in Q1 sales boosted by EVs, premium cars
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2023-04-12
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Mercedes-Benz Group Sales Rise Modestly in Q1, Driven by
Meta Description: Mercedes-Benz Group sales increased 3% in the first quarter, with electric vehicles and luxury cars driving growth. Europe saw the strongest increase.
URL: https://financedigest.com/mercedes-posts-rise-in-q1-sales-boosted-by-evs-premium-carshtml

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(Reuters) -Mercedes-Benz Group sales rose moderately in the first quarter of the year, boosted by electric vehicles (EV) and premium cars, the German carmaker said on Wednesday.

Worldwide sales increased 3% to 503,500 vehicles, with Europe posting the strongest growth at 8%.

The firm saw the biggest sales plunge in the rest of the world that includes all of the regions except Europe, Asia and North America.

The number dropped by almost a quarter there, impacted by a decision by the company to [halt export and production in Russia](https://www.financedigest.com/kfc-franchisees-in-russia-ask-govt-to-halt-sale-of-stores-to-local-operator-ria.html "KFC franchisees in Russia ask govt to halt sale of stores to local operator – RIA") in March last year.

EVs were the main growth driver in the quarter, with [sales almost doubling to 51,600 units](https://www.financedigest.com/manchester-united-tanks-on-report-glazers-may-avoid-sale-with-new-investment.html "Manchester United tanks on report Glazers may avoid sale with new investment").

The top-end segment – which includes models such as AMG, Maybach and G-class – also demonstrated solid growth of 18%, [reaching 91,800 for the period](https://www.financedigest.com/automotive-body-in-white-sales-at-3-4-cagr-over-the-forecast-period-from-2021-to-2031-reaching-us-59-7-billion-in-2021.html "Automotive Body in White sales at 3.4% CAGR over the forecast period from 2021 to 2031, reaching US$ 59.7 billion in 2021").

Britta Seeger, a Mercedes board member, said both segments posted strong results “despite ongoing [supply chain](https://www.financedigest.com/g7-finance-leaders-pledge-financial-stability-supply-chain-diversity.html "G7 finance leaders pledge financial stability, supply chain diversity") disruptions, economic headwinds and geopolitical uncertainties.

[Sales in the Mercedes-Benz Vans division grew 12% in the quarter](https://www.financedigest.com/snam-confirms-guidance-after-rise-in-first-quarter-sales.html "Snam confirms guidance after rise in first quarter sales"), reaching 98,900 – its best first-quarter result ever.

Earlier on Wednesday, Swedish peer [Volvo reported record](https://www.financedigest.com/truck-maker-volvo-posts-record-q1-as-sales-margins-beat-forecasts.html "Truck maker Volvo posts record Q1 as sales, margins beat forecasts") first-quarter profits in a sign the company had begun to overcome bottlenecks and inflation that hampered the industry.

(Reporting by Andrey Sychev, Editing by Friederike Heine, Robert Birsel)


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