Mercedes-Benz EVs: 15% of US Sales in Strong Q3

Mercedes-Benz electric vehicle (EV) sales have seen remarkable growth in the US, reaching nearly 15% of total sales in the third quarter of 2023, which is a substantial increase compared to the previous year. During Q3, the German automaker sold 10,423 EVs, marking a staggering 284% growth over the same period last year.

Mercedes-Benz’s electric vehicle lineup in the US encompasses a wide range of options, with five fully electric models available in various segments. These models include the EQS sedan, EQS SUV, EQE sedan, EQE SUV, and EQB.

Among these offerings, the EQE SUV led Mercedes’s electric vehicle sales in Q3, with prices starting at approximately $78,000. Following closely is the EQB, the brand’s most affordable electric SUV, priced from $52,750. The EQS SUV exhibited substantial growth, with a 476% increase in sales compared to the previous year, totaling 1,593 units sold. Conversely, sales of the EQS sedan dipped by 35% year-over-year, with 1,100 units sold.

In terms of year-to-date sales, the Mercedes EQS SUV has been the top-performing model, with 7,086 units sold. The EQB narrowly outperformed the EQE SUV, with sales of 6,674 and 6,333 units, respectively.

Dimitris Psillakis, President and CEO of Mercedes-Benz USA, expressed the company’s enthusiasm for the strong demand for their electric vehicles. He highlighted their production of the EQE SUV and EQS SUV in Alabama, emphasizing their commitment to EVs in the US market.

Mercedes electric vehicle sales accounted for 14.7% of US passenger vehicle sales in Q3, and the brand’s electric lineup now represents 14% of total passenger vehicle sales in 2023. In comparison, Ford and GM’s electric vehicle sales, while higher in volume, constituted only 3% to 4% of their total sales in the same period.

As legacy automakers intensify production to tap into the growing EV market and compete with Tesla and other players, the coming quarters will be vital in assessing their progress and market positioning. Notably, EV startup Rivian has made impressive strides, delivering 15,564 electric vehicles in Q3, an increase of 23% from the previous quarter, putting it on track to manufacture 52,000 units by the end of the year.

In light of these developments, established automakers must continue to raise their game to maintain their share of the EV market and remain competitive against newer entrants such as Rivian.

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