2nd Quarter Results 2024.

Adjusted Earnings Before Interest and Taxes (EBIT) at Mercedes-Benz Cars reached €2.8 billion (Q2 2023: €3.8 billion) on lower sales volumes but resulted in an adjusted Return on Sales (RoS) of 10.2%, up from 9.0% in the first quarter, (Q2 2023: 13.5%) due to a focus on sales quality in a challenging environment and due to favourable material costs. Mercedes-Benz Cars unit sales reached 496,712 units in the second quarter, a plus of 7% compared to the first quarter due to improved product availability in China and the United States. Top-End Q2 sales increased by 6% compared to Q1, but remain below year-earlier levels, mainly due to model changeovers and a subdued market environment in Asia. The availability of Top-End models continues to improve with the all-new electric G-Class¹ launched. Sales of the AMG CLE53, AMG E53 and AMG GLC43 models started in the second quarter. Furthermore, the Mercedes-Benz S-Class remains the undisputed market leader in its segment in all major markets. Sales in the Core segment rose by 8% in Q2 compared to previous quarter mainly driven by the E-Class and GLC, the latter of which has retained its status as the top-selling model.

The adjusted Return on Sales (RoS) for Mercedes-Benz Vans rose to 17.5% (Q2 2023: 15.5%). The lower unit sales were outweighed by healthy net pricing, and a favourable structure, as well as favourable material costs and positive foreign exchange effects. Adjusted Earnings Before Interest and Taxes (EBIT) increased by 5% to €834 million (Q2 2023: €792 million). Mercedes-Benz Vans global sales reached 103,435 units in the second quarter maintaining sales at the same level as in the first quarter (-2% compared to Q1). Thus, the division achieved a strong first half-year in 2024, with Q2 influenced by model changes both in the private and commercial segment of midsize and large vans and a phased ramp up of the eSprinter.

The portfolio of Mercedes-Benz Mobility shows an increasing share of xEV vehicles (battery electric vehicles and plug-in hybrid vehicles) in the second quarter of 2024. As a result, more than every second electric vehicle is now leased or financed by Mercedes-Benz Mobility. Overall, the total portfolio amounted to €135.7 billion at the end of June 2024 and is thus at the same level as year-end 2023 (FY 2023: €135.0 billion). At €14.1 billion, the new business of Mercedes-Benz Mobility is below prior-year level (Q2 2023: €15.4 billion). The adjusted Earnings Before Interest and Taxes (EBIT) decreased to €271 million mainly driven by a lower interest margin and higher cost of credit risk (Q2 2023: €448 million). As a result, the adjusted Return on Equity (RoE) decreased to 8.4% (Q2 2023: 12.8%).