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London, October 29, 2025, (Oilandgaspress) ––Mercedes-Benz Group AG (ticker symbol: MBG) posted third-quarter financial results in line with its full-year guidance. The adjusted Group EBIT reached €2,099 mn in the third quarter (Q3 2024: €2,537 mn) mainly influenced by lower sales volume, increased expenses due to tariffs and negative development of foreign exchange rates. Group EBIT adjustments in the quarter amounted to €1,349 mn, mainly in connection with the workforce adjustment programme in Germany and optimization programmes abroad (€876 mn).
All three business units achieved EBIT margins in line with expectations. Furthermore, the company generated a robust free cash flow of the industrial business of €1.4 bn in the quarter (Q3 2024: €2.4 bn) and €5.6 bn in the first nine months (Q1-Q3 2024: €6.3 bn). Net liquidity reached €32.3 bn end of Q3 2025 (end of Q3 2024: €28.2 bn). In accordance with its capital allocation policy, Mercedes-Benz plans to commence the share repurchase program, which was approved earlier this year and authorized by the Annual General Meeting. Over a period of up to 12 months, shares worth up to €2 billion are to be repurchased.
Mercedes-Benz Cars adjusted EBIT margin reached 4.8% in the third quarter and 5.7% in the first nine months, in line with full-year guidance. Mercedes-Benz Cars sold 441,453 cars in the third quarter, influenced by the market environment in China, tariff policies and diligent stock management that impacted group sales in the U.S. market. However, year-to-date September, deliveries to customers increased by 6% in the U.S. market. Third‑quarter sales in Europe increased by 2%, while sales in the Gulf States (+33%), Turkey (+15%) and South America (+45%) saw strong growth. In China, Top-End Vehicle sales increased by 13% retaining Mercedes-Benz’s leading market share in the segment priced 1 million RMB and above. Globally, Top-End Vehicles accounted for 15.4% of overall sales in Q3 driven by the S-Class and GLS, G-Class and Mercedes-AMG. Mercedes-AMG also concluded its record-breaking drive with the AMG CONCEPT GT XX in Nardo, validating leading technologies which will be included in the series version which will be launched next year.
Battery electric vehicle (BEV) sales increased by 22% compared to Q2 driven by the first deliveries of the new electric CLA in Europe. The new electric GLC, which can now be ordered in nearly all European markets, will further strengthen the electric vehicle portfolio. Third quarter EBIT at Mercedes-Benz Cars was influenced by lower unit sales, tariffs and adjustments of €709 mn mainly for efficiency measures.
Mercedes-Benz Vans continued to deliver double-digit returns while investing in a new architecture. The adjusted EBIT margin reached 10.2% in the third quarter and 10.7% year-to-date September. Mercedes-Benz Vans sold 83,843 units in Q3, of which 8,579 were electric vans (+96%) leading to a global EV share of 10% and 14% in Europe. Third-quarter EBIT at Mercedes-Benz Vans was below the prior-year level impacted by overall lower sales, softer net pricing and adjustments of €54 mn mainly for efficiency measures.
Mercedes-Benz Mobility reported a higher adjusted Return on Equity (RoE) of 9.6% in the third quarter. The adjusted EBIT increased to €313 mn in Q3 driven by ongoing efficiency measures and a positive development in the portfolio margin. This was partially offset by higher cost of credit risk amid a softer global economic environment. Contract volumes and new business reflected market developments in the automotive industry and ongoing currency effects. Third-quarter EBIT adjustments at Mercedes-Benz Mobility include an increase of provisions reflecting a recently published consultation paper by the UK Financial Conduct Authority (FCA).
| Outlook | FY 2024 Actuals | FY 2025 Guidance | |
| Unit Sales | Mercedes-Benz Cars | 1,983k units | Significantly below |
| Mercedes-Benz Vans | 406k units | Significantly below | |
| xEV Share | Mercedes-Benz Cars (xEV) | 19% | 20 to 22% |
| Mercedes-Benz Vans (xEV) | 5% | 8 to 10% | |
| Adjusted* Return on Sales (RoS) | Mercedes-Benz Cars | 8.1% | 4 to 6% |
| Mercedes-Benz Vans | 14.6% | 8 to 10% | |
| Mercedes-Benz Mobility (RoE) | 8.7% | 8 to 9% | |
| Adjusted Cash Conversion Rate (CCR) | Mercedes-Benz Cars | 1.0 | Now 0.9 to 1.1 |
| Mercedes-Benz Vans | 1.0 | Now 0.6 to 0.8 | |
| Investment in PP&E | Mercedes-Benz Cars | €3.4 billion | Significantly above |
| Mercedes-Benz Vans | €0.6 billion | Significantly above | |
| R&D expenditure | Mercedes-Benz Cars | €8.7 billion | At prior-year level |
| Mercedes-Benz Vans | €1.0 billion | Significantly above | |
| Revenue | Mercedes-Benz Group | €145.6 billion | Significantly below |
| EBIT | Mercedes-Benz Group | €13.6 billion | Significantly below |
| Free Cash Flow (Industrial Business) | Mercedes-Benz Group | €9.2 billion | Significantly below |
*The adjustments may include material adjustments if they lead to significant effects in a reporting period. These material adjustments relate in particular to legal proceedings and related measures, restructuring measures and M&A transactions.
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