BERLIN (Reuters) – German premium car groups reported sales at or above forecasts for 2023, with BMW leading the way in terms of volumes while Mercedes-Benz posted the highest margins.
This table illustrates the different strategies adopted by manufacturers in the race for electrification against a backdrop of tariff war.
The American Tesla, a pioneer of high-end electric cars, has slashed prices with the aim of favoring volumes over margins, a strategy that European groups have had difficulty following.
BMW reported record sales this year with more than 2.5 million cars sold, but the Bavarian group was more cautious about its margin in the automotive division which should reach between 9% and 10.5% for 2023 .
For its part, Mercedes-Benz reported sales of just under 2.5 million units last year, due to a fourth quarter disrupted by supply constraints and model changes.
The manufacturer is targeting an annual margin at the bottom of a range between 12% and 14%.
The Audi brand, owned by Volkswagen, sold 1.9 million vehicles last year but it remains far behind its two competitors in terms of electric vehicles, with 178,000 units sold, compared to more than 375,000 for BMW and 240,600 for Mercedes- Benz.
Audi’s margin is expected to be at the lower end of the 9% to 11% range.
(Reporting Victoria Waldersee; French version Lina Golovnya, edited by Blandine Hénault)
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