Mercedes-Benz Q1 Sales Down With Weakness In Cars, Vans

(RTTNews) - German luxury vehicle major Mercedes-Benz Group AG (MBGAF) reported Monday weak sales in its first quarter with lower car and van sales.

In Germany, Mercedes-Benz shares were losing around 1.6 percent to trade at 48.28 euros.

Mercedes-Benz Group sold 529,200 cars and vans in the first quarter, down 7 percent from last year.

Mercedes-Benz Cars sales in the quarter reached 446,300 units, a drop of 4 percent year-over-year. The company said the overall car sales results reflected a mixed picture throughout the world with a positive development in North America and other important markets, especially South Korea.

Passenger car sales grew 1 percent in the U.S., and the growth was 40 percent in South Korea.

Mercedes-AMG sales increased by 17 percent with growth in all regions.

Further, worldwide sales of Mercedes-Benz Vans reached 82,900 units in the first quarter, down 21 percent from last year in total, or down 16 percent excluding the discontinued Metris in North America. The company recorded strong demand for eVans with 59 percent sales growth, driven by eSprinter.