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Mercedes-Benz sales rose by more than a fifth during the third quarter, defying ongoing supply-chain bottlenecks and an increasingly negative economic outlook as consumers battle surging inflation.
The automaker delivered 517,800 vehicles globally in the third quarter, up 21 percent compared to the same period a year ago with demand in China leading strong growth in all key regions, Mercedes said in a statement on Tuesday.
Deliveries of full-electric cars more than doubled to 30,000 vehicles, Mercedes said.
In Europe, where multiplying energy bills are affecting buyers, deliveries still rose about 18 percent as automakers catch up on orders after months of severe shortages of semiconductors hampering output.
“Global demand for Mercedes-Benz vehicles remains robust, even as energy supply uncertainties in Europe and the ongoing covid challenges in Asia continue to impact consumer sentiment,” Mercedes said in the statement.
While many automakers still report firm demand, consumer confidence measures in major markets are around record lows amid surging inflation.
Central banks in Europe, the UK and the U.S. are raising interest rates in a bid to tame price rises, moves that should reduce demand for big-ticket items like cars.
Rival BMW reported quarterly sales earlier this week that were almost flat compared to a year ago at just under 588,000.