Car sales fell 3% to 1.98 million last year in a challenging global market, with top-end vehicle sales weighed by market conditions in China, model changes and weak electric-vehicle demand.

German luxury carmaker Mercedes-Benz sold fewer vehicles in 2024 than in the previous year, the company reported on Friday. The sales decline slowed somewhat in the fourth quarter thanks to a slight recovery in the Chinese market.

Mercedes-Benz's core car sales fell in 2024, a tough year for the auto industry marked by waning demand in a weak economy, especially in key market China, the German luxury carmaker said on Friday.

Mercedes-Benz’s Top-End Vehicle (TEV) range registered double digit YoY growth of 30% in CY2024. Of every 4 Mercedes-Benz cars sold in CY2024, one was a TEV. Some of the bestselling TEVs include the Mercedes-Maybach S-Class, Mercedes-Maybach GLS SUV and the Mercedes-Maybach EQS 580.

Annual sales of battery-electric cars (BEV) dropped by 23 per cent to 185,100 vehicles, adding pressure on the carmaker as new, harsher EU CO2 emission reduction targets take effect this year