🚗📈 Mercedes-Benz and the important transition to electromobility! 🌱
Company results Mercedes-Benz for the first quarter 2024 reveals a decline in sales, but at the same time shows an increase in the share of electric vehicles.
Mercedes-Benz joins a group of European automotive giants that today reveal their financial results for the first quarter 2024.
Mercedes-Benz Group AG
MBG.DEMercedes remains one of Germany's best-known car brands and a leader in luxury cars. The company has been involved in the electrification of the industry and has been expanding its EQ range of electric vehicles , currently offering more than 8 models in different price categories. With an upgraded EQS sedan for 2025 and a new all-electric version of the G-Class, designated as the "G580 with EQ technology", it is making huge strides forward. 🌟
Although the company has seen a slight decline in sales, sales of electric vehicles in the portfolio are still growing, which is an important signal for future goals.
First quarter numbers 2024 shows a drop in profits, but Mercedes still maintains a strong financial position. S EBIT of EUR 3.86 billion and a free cash flow of EUR 2.23 billion is doing quite well. 💰
Despite the current market challenges, the carmaker remains optimistic about its competitiveness and has no plans to engage in a price war. It is the high margins on their cars that are a big bonus. The top-end models will still be the drivers of its success. 💪
Mercedes remains vigilant about the global economic environment, but at the same time confirms its financial targets for 2024.
Another benefit may be a dividend yield of 7,14 %which is well covered, so we can count on interesting future returns.
Shares of Mercedes $MBG.DE+1.1% and other European manufacturers such as Volkswagen $VOW.DE+2.5% or Stellantis $STLA+1.8% are down after the results announcement.
Mercedes-Benz Group AG
MBG.DEWhat do you think about the current stance of European carmakers against Chinese competition?
It's a quality company and the dividend is attractive. Thanks for the info😁
The stock has now reached the top. In terms of how its price has performed in the past, it has failed to break the $80 mark. It now looks like it will as well. But what is interesting is its high dividend.