Mercedes-Benz Group's revenue by region 2020 & 2021

In the 2021 fiscal year, Mercedes-Benz Group experienced a growth in revenues across all its four segments. In particular, the European market generated a revenue of over 47.7 billion euros. That same year, the total revenue of the German automotive manufacturer amounted to just under 133.9 billion euros.

Mercedes-Benz Group’s key markets

Mercedes-Benz Group’s passenger car business sold just under two million automobiles worldwide in 2021. The most important markets for the company in 2021 were China and Europe with 734,700 and 662,300 vehicle sales, respectively. The German manufacturer further announced that its 2022 strategy was to increase focus on high sales, sales margin, and sales channels. In particular, the company intends to promote its Chinese operations; the Chinese passenger car market has been recovering from the COVID-19 pandemic faster than the German and American markets. China was one of the largest passenger car markets worldwide in 2021.

European competitors in the Chinese market

The luxury car industry in China is highly condensed, with only a few companies dominating the market: Audi, Mercedes-Benz, and BMW. The initiatives taken by the Chinese government to enhance the automotive market allowed luxury car manufacturers to increase their sales in China. In 2021, BMW sold approximately 848,000 vehicles, over 10,000 vehicles more than Mercedes-Benz.