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Automotive Industry
Mercedes-Benz and BMW saw their sales in China dip in the third quarter, the two companies said on Tuesday, with Mercedes hit by supply chain issues and model changeovers.
Mercedes-Benz's supply issues affected its global sales, which fell 4% in the last quarter, although the company said in a statement that it was still on track to meet its full-year guidance for flat sales growth.
"Volumes were impacted by a model changeover for the E-Class and a supply-chain bottleneck which constrained availability of the GLC," the company said in the statement as it reported that a fall in global wholesale figures to 510,600 vehicles in the third quarter.
Sales in China slumped 12% from a year earlier.
BMW fared better, reporting a 5.8% rise in its global retail sales to 621,699 vehicles in July-September, but said retail sales in China of BMW and Mini models dropped 1.8%.
Automakers have struggled in China this year with weakened demand and deepening price competition, though passenger vehicle sales returned to growth in August.
Through September, overall Mercedes sale rose 2% to 1.53 m, while BMW brand sales rose 5.7% to 1.62 m.
Mercedes does not disclose detailed retailed sales but a spokesperson said they were positive in the third quarter and on a nine-month basis.