Mercedes posts rise in Q1 sales boosted by EVs, premium cars

(Reuters) – Mercedes-Benz Group sales rose moderately in the first quarter of this year, boosted by electric vehicles (EV) and premium cars, the German carmaker said on Wednesday.

Worldwide sales increased 3% to 503,500 vehicles, with Europe posting the strongest growth at 8%.

EVs were the main growth driver in the quarter, with sales almost doubling to 51,600 units.

The top-end segment – which includes models such as AMG, Maybach and G-class – also demonstrated solid growth of 18%, reaching 91,800 for the period.

Britta Seeger, a Mercedes board member, said both segments posted strong results “despite ongoing supply chain disruptions, economic headwinds and geopolitical uncertainties”.

Sales in the Mercedes-Benz Vans division grew 12% in the quarter, reaching 98,900 – its best first-quarter result ever.

Earlier on Wednesday, Swedish peer Volvo reported record first-quarter profits in a sign the company has begun to overcome bottlenecks and inflation that hampered the industry.

(Reporting by Andrey Sychev, Editing by Friederike Heine)