A Bit More on German Cars
We continue to monitor developments in German industry. Clearly, growth is becoming "easier and easier" now that it's no longer dependent on "primitive" Russia. Gas prices are no longer dictated by external forces. Moreover, the gas now has "molecules of freedom."
Mercedes-Benz:
The group’s net profit for the third quarter of 2024 fell by 54% compared to Q3 of 2023: €1,719 million against €3,719 million. For the first nine months of this year, profit declined by 31% compared to the same period last year.
Revenue decreased across all sales regions and segments except hybrids.
BMW:
Q3 2024: €476 million compared to €2,931 million in Q3 2023, a drop of 83.8%. Over the first three quarters, profits fell by 35.8%.
Deliveries declined across all segments: BMW, Mini, Rolls-Royce, and motorcycles. Deliveries to China dropped by 13.1%.
Audi:
First three quarters of 2024 – net profit fell by 45.8%.
By brand, only Lamborghini showed growth, while Audi and Bentley declined by 10.9% and 26.6%, respectively.
The sharpest decline by market was in Germany: -19.7%.
Quite a trend, isn’t it?
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We continue to monitor developments in German industry. Clearly, growth is becoming "easier and easier" now that it's no longer dependent on "primitive" Russia. Gas prices are no longer dictated by external forces. Moreover, the gas now has "molecules of freedom."
Mercedes-Benz:
The group’s net profit for the third quarter of 2024 fell by 54% compared to Q3 of 2023: €1,719 million against €3,719 million. For the first nine months of this year, profit declined by 31% compared to the same period last year.
Revenue decreased across all sales regions and segments except hybrids.
BMW:
Q3 2024: €476 million compared to €2,931 million in Q3 2023, a drop of 83.8%. Over the first three quarters, profits fell by 35.8%.
Deliveries declined across all segments: BMW, Mini, Rolls-Royce, and motorcycles. Deliveries to China dropped by 13.1%.
Audi:
First three quarters of 2024 – net profit fell by 45.8%.
By brand, only Lamborghini showed growth, while Audi and Bentley declined by 10.9% and 26.6%, respectively.
The sharpest decline by market was in Germany: -19.7%.
Quite a trend, isn’t it?
Follow MM on Telegram