Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Mercedes-Benz Pulls Well Ahead of BMW in U.S. Luxury Car Sales

Published 07/08/2020, 11:46 AM
Updated 07/08/2020, 12:09 PM
© Reuters.  Mercedes-Benz Pulls Well Ahead of BMW in U.S. Luxury Car Sales

© Reuters. Mercedes-Benz Pulls Well Ahead of BMW in U.S. Luxury Car Sales

(Bloomberg) -- Daimler AG (DE:DAIGn) is coping with the coronavirus pandemic’s disruption to the U.S. luxury-car market better than its German rival, registering half the magnitude of sales decline BMW AG sustained in the first half of the year.

Sales at Daimler (OTC:DDAIF) AG’s luxury brand fell 14% in the first six months compared with BMW’s 28% plunge. After posting much better second-quarter numbers on Wednesday, Mercedes leads BMW by almost 18,000 vehicles.

Mercedes is benefiting from a refreshed lineup, with the automaker having given a face lift to its top-selling GLE and GLC crossovers in the past year. Sales of the three-row GLS SUV also jumped 36% in the second quarter. Virus-related lockdowns in key luxury markets including New York, New Jersey and California were still a challenge for all premium brands.

Read more: Daimler Sharpens Cost Cutting With Sales Recovery on Horizon

BMW, which won the U.S. luxury sales crown last year for the first time since 2015, said sales of its big three-row SUV, the X7, slumped 38% in the second quarter, while deliveries of its mid-size X3 crossover fell 45%.

U.S. sales for Audi, the luxury division for Volkswagen AG (OTC:VWAGY), fell 35% from April through June and were down 25% for the year. Toyota Motor (NYSE:TM) Corp.’s Lexus sales fell 35% for the quarter and 21% in the first half.

©2020 Bloomberg L.P.

 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.