Mercedes-benz Q1 Profit Falls 17 Pct Hit By Weak China Sales

STUTTGART (Germany), April 29 (Bernama-dpa) -- German carmaker Mercedes-Benz reported a 17.2 per cent drop in first-quarter net profit on Wednesday, as weaker sales, particularly in China, continued to weigh on results, German Press Agency (dpa) reported.

Group net profit fell to €1.43 billion (US$1.67 billion) from €1.73 billion a year earlier. The decline was less steep than in recent quarters, though it followed a weak base, after profit slumped 43 per cent in the same period last year.

Earnings before interest and taxes (EBIT) dropped 16.8 per cent to around €1.9 billion, while revenue slipped roughly 5.0 per cent to €31.6 billion.

"First-quarter results keep us on track to deliver on our full-year guidance. Strong demand for our new products and healthy order books position us well for improved momentum in the second half of the year," Chief Financial Officer Harald Wilhelm said in a statement.

Passenger car unit sales fell 6.0 per cent to 419,400 vehicles, driven by a sharp decline in China, a key market for the group.

Mercedes-Benz has been grappling with declining unit sales, revenue, and profit. Full-year net profit nearly halved in 2025 to €5.3 billion from €10.4 billion, hit by tariffs, negative currency effects, and intense competition in China.

Business had already performed poorly in 2024. The Stuttgart-based group responded by launching a cost-cutting programme, while a series of new model releases is intended to help revive growth.

-- BERNAMA-dpa