Mercedes-Benz Group AG unveiled on Friday that its revenue in the third quarter of fiscal 2024 tumbled 6.7% on an annual basis, to land at €34.5 billion.
In the reported three-month period, year over year, net profit dropped 53.8%, standing at €1.7 billion, while earnings per share plunged 47.5%, coming in at €1.81. Mercedes-Benz Cars' third-trimester sales in units amounted to 503,573, a 1.4% decline from a year ago, while Mercedes-Benz Vans sold 91,063 units, a 13.3% fall compared to the same timeframe in 2023.
"The Q3 results do not meet our ambitions. Nonetheless, Mercedes-Benz continues to generate solid cash flows even in challenging times. We are taking a prudent view about market evolution going forward and we will step up all efforts on further efficiency increases and cost improvements across the business," CFO Harald Wilhelm said.
