Mercedes-Benz reported a strong quarter, with the company focusing on top-end vehicles, customizations, and new electrics. This has led to higher prices for customers. However, Mercedes' North American business remains robust due to its new vehicles. The company launched the EQE SUV and GLC, a medium-sized SUV, in the first half-year, attracting customers and maintaining high demand. Mercedes experienced a 10.8% revenue increase in Q2, impacting its full-year industrial free-cash flow and EBIT forecasts. North America accounts for 30% of sales, resulting in substantial growth.
Mercedes is focusing on its electrified product line, EQS, which includes top-end vehicles like the G-Wagen, S-Class, and Maybach exclusive trims. In 2023, Mercedes will offer a full range of EV SUVs in the US, starting with the top entry EQB and ending with the top-end EQS SUV. The company plans to grow rapidly on zero-emissions vehicles and has a 14% share of electric vehicles in its product portfolio. One major obstacle to EV adoption is charging infrastructure. Mercedes is using a multiprong approach, including its proprietary network, Tesla's Supercharger network, and a joint venture with six other automakers.
Psillakis emphasizes the importance of multiple networks for customer convenience, aiming to offer maximum charging options for electric vehicles in all US high- or superchargers. This strategy aims to eliminate the fear of finding a charging spot for electric vehicles.