Benz's core car sales fell in 2024, a tough year for the auto industry marked by waning demand in a weak economy, especially in China, the German luxury carmaker said on Friday. Despite this, Mercedes stock inched higher after the results and was up 4% by 1120 GMT,

Car sales fell 3% to 1.98 million last year in a challenging global market, with top-end vehicle sales weighed by market conditions in China, model changes and weak electric-vehicle demand.

German luxury carmaker Mercedes-Benz sold fewer vehicles in 2024 than in the previous year, the company reported on Friday. The sales decline slowed somewhat in the fourth quarter thanks to a slight recovery in the Chinese market.

The previous year seems to have been a good one for luxury carmakers in India, with the two most popular brands – Mercedes and BMW – announcing double digit growth and reporting record sales figures.