BMW and Mercedes quarterly sales drop on weak China

By Andrey Sychev and Miranda Murray

October 11, 20242:12 AM GMT+10Updated 13 hours ago

The BMW XM EV car is displayed at the 44th Bangkok International Motor Show in Bangkok, Thailand, March 23, 2023. REUTERS/Athit Perawongmetha/File Photo Purchase Licensing Rights, opens new tab

• Summary
• Companies

• Q3 sales down 13% at BMW, down 3% at Mercedes
• Both report lower sales in China
• BEV sales fall at Mercedes, rise at BMW

BERLIN, Oct 10 (Reuters) - Sluggish demand and stiff competition in China hit third quarter sales at BMW (BMWG.DE), opens new tab and Mercedes (MBGn.DE), opens new tab, the German luxury automakers said on Thursday.

The German car sector is facing multiple challenges, ranging from high production costs and managing the shift to electric vehicles to falling demand and rising competition from China.

The troubles have been illustrated most recently by cost-cutting at Europe's biggest automaker, Volkswagen (VOWG_p.DE), opens new tab, which is considering plant closures in Germany for the first time.

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