Mercedes-Benz Group AG Unveils Record-Breaking Q1 2024 Financial Results

Mercedes-Benz Group AG Reports Record First Quarter 2024 Results

Stuttgart, May 16, 2024 – Mercedes-Benz Group AG has announced its financial results for the first quarter of 2024, showcasing a remarkable performance with record-breaking revenue and profitability. The group's revenue increased by 10% to €46.1 billion, driven by strong demand for luxury and electric vehicles.

Key Highlights:

• Revenue Growth: Reached €46.1 billion, a 10% increase from Q1 2023.
• Net Profit: Achieved a net profit of €3.8 billion, a 12% rise year-over-year.
• Electric Vehicle Sales: EV sales surged by 35%, reinforcing Mercedes-Benz's commitment to sustainability and innovation.
• New Model Launches: Successful launch of the new EQS SUV and the updated S-Class.

Ola Källenius, CEO of Mercedes-Benz Group AG, expressed pride in the company's achievements, attributing success to the dedicated workforce and a robust product portfolio. The company continues to prioritize sustainable growth and innovation, with significant investments in electric mobility and digitalization.

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