{"id":122685,"date":"2023-10-11T17:55:39","date_gmt":"2023-10-11T15:55:39","guid":{"rendered":"https:\/\/luxus-plus.com\/the-german-manufacturers-feel-the-chinese-slowdown-in-the-third-quarter\/"},"modified":"2023-10-11T17:56:04","modified_gmt":"2023-10-11T15:56:04","slug":"the-german-manufacturers-feel-the-chinese-slowdown-in-the-third-quarter","status":"publish","type":"post","link":"https:\/\/luxus-plus.com\/en\/the-german-manufacturers-feel-the-chinese-slowdown-in-the-third-quarter\/","title":{"rendered":"The German manufacturers feel the Chinese slowdown in the third quarter "},"content":{"rendered":"

German automotive manufacturers Mercedes-Benz and BMW have released their third-quarter results. While their sales are being affected by the Chinese growth slowdown, some manufacturers are initiating partnership discussions with emerging brands.<\/h4>\n

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Indeed, China spares no one. German luxury car manufacturers Mercedes-Benz and BMW<\/strong> released their third-quarter figures on Tuesday, October 10, revealing divergent trends in the Chinese market.<\/p>\n

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Mercedes-Benz<\/a>, faced with supply chain issues and model changes, saw its global sales drop by 4%<\/strong> year-on-year from July to September. The company reported a decline in global figures to 510,600 vehicles<\/strong> in the third quarter, with sales in China dropping by 12%<\/strong> compared to the previous year. However, the company is maintaining its annual sales growth forecasts stable.<\/p>\n

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“The volumes were impacted by the model change for the E-Class and a bottleneck in the supply chain that limited GLC (luxury SUV model) availability,”<\/em> the company stated.<\/p>\n

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On the other hand, BMW<\/a> fared better and recorded a 5.8%<\/strong> increase in global retail sales for the same period, reaching 621,699 vehicles<\/strong>. Retail sales in China for BMW and Mini models, however, decreased by 1.8%<\/strong>, while global retail sales increased by 5.1%<\/strong> year-to-date.<\/p>\n

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Challenges for Automakers in China<\/h2>\n

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Luxury car manufacturers have faced challenges in China<\/strong> this year due to weakened demand and increased price competition. Nevertheless, passenger car sales returned to growth in August. BMW mentioned that despite the drop in third-quarter sales, sales in China had increased by 1.7%<\/strong> since the beginning of the year.<\/p>\n

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Meanwhile, Mercedes-Benz announced that its total global sales had increased by 2%<\/strong> year-on-year, in line with its annual forecasts of stability compared to the previous year. However, the company does not disclose details on retail sales.<\/p>\n

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“For our next wave of the electric offensive, starting in 2025 with the new E architectures, China is absolutely central,”<\/em> said the group’s CEO, Ola K\u00e4llenius<\/strong>. “We need to master electric technology as perfectly as digitization. This is what our customers expect.”<\/em><\/p>\n

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Discussions between Nio and Mercedes-Benz<\/h2>\n

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