Mercedes shares had slid more than 6% early Thursday to their lowest in almost a year, and were the biggest fallers on the euro zone blue-chip index. 'I can hardly imagine the current status quo is fully sustainable for everybody,' he said.ĭiscounts offered on some models in Germany in the fourth quarter did not represent an overall shift in the carmaker's pricing strategy of keeping prices high to focus on boosting margins over volume, Wilhelm said.
With some traditional players selling battery electric vehicles below the level of internal combustion engine cars despite their higher production costs, 'this is a pretty brutal space,' Harald Wilhelm said.
The luxury carmaker said it remained committed to its EV targets, but could bolster earnings with better returns from its combustion engine portfolio if margins on EVs remained lower than previously assumed, its chief financial officer said on an analyst call. Mercedes says 'brutal' EV market will hurt its car sales margins Stock shares take a dive to their lowest point in a yearīERLIN - Mercedes-Benz said a 'brutal' electric vehicle market of heavy price cuts and supply chain issues meant it would likely hit the lower end of its 12-14% adjusted return on sales forecast for the cars division, as third-quarter earnings fell.
