Faced with Europe’s demand to end thermal cars by 2035, all car manufacturers announced their intention to switch to all-electric one by one. Apart from that in 2021, if the fashion was still enthusiastic, even if it means expecting the request of the authorities, today, the time is to backpedal..
And it is Mercedes that is the first to draw the line, announcing during its annual results conference on February 22, 2024 that the eventual objective is not 2030 but 2035 for the transition to all-electric. A 5 year delay during which combustion vehicles will continue to exist.
Electricity is making progress, but remains weak
Finally why would you want to delay the end of thermals? For the simple reason that electric still represents only a small part of sales: 12% of sales in 2023, despite an increase of 61%.. Worse, battery vehicles are in free fall as of early 2024, representing just 11% of sales in Europe in the first month of the year, compared to 18.5% the previous month. This can be particularly explained by the end of purchase aid in Germany. So much so that diesel is back!
However, Mercedes anticipated the transition to all-electric well by offering at least one electric vehicle in each segment: EQA, EQB, EQC, EQE, EQS, EQT, EQV. However, if the German manufacturer backpedals on electrics, electrification remains at the center of concern. Mercedes now aims to sell 50% electrified vehicles by 2030, hybrids and electrics combined.. That is 5 years after the initial plan which was targeted for 2025. Hence the five year delay in the ultimate aim of all electric.
Decline in profits in 2023
If the announcement is made on February 22, 2024, Mercedes has also revealed its figures for the year 2023. 14.53 billion euros, with net profit 1.9% lower than last year in particular.. Which is still slightly better than the experts predicted. As for annual turnover, it increased by 2.1% to 153.22 billion euros, while brand sales stagnated (+ 1.5%). Now it remains to be seen If Mercedes will be the only one responsible for delaying its transition to 100% electric, or if it has a foot in the door, and other manufacturers will follow suit?
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