Mercedes-Benz Emerges as Winner after BMW's Price Hike in China

TapTechNews July 31st news, the blogger @Sun Shaojun09 stated that after BMW's price increase last week, currently, the biggest winner is Mercedes-Benz, and Mercedes-Benz received nearly 20,000 new orders last week.

Previously, the blogger said that due to the price war causing severe losses in stores, BMW started to reduce volume and maintain prices in July. Then the BMW official confirmed this news and stated that in the second half of the year in the Chinese market, it will focus on business quality and support dealers to make steady progress.

The delivery data of the BMW Group in the second quarter and the first half of 2024 shows that in the first half of this year, BMW and MINI sold 375,947 new cars in China, a year-on-year decrease of 4.2%; and in the second quarter of this year, the sales in China reached 188,495 vehicles, a year-on-year decrease of 4.7%.

The second quarter global sales of Mercedes-Benz Group was 36.74 billion euros (TapTechNews note: currently about 288.032 billion RMB), a year-on-year decrease of 3.9%; the second quarter earnings before interest and taxes was 4.04 billion euros (currently about 31.673 billion RMB), a year-on-year decrease of 19%; the second quarter net profit was 3.06 billion euros (currently about 2.399 billion RMB), a year-on-year decrease of 16%.