Electric and Luxury Cars Drive Strong Sales for Mercedes and Tesla in Q1

Mercedes reports a 327% increase in EV sales in the US and a 119% increase globally in Q1 2021, with electric offerings accounting for 14% of all passenger vehicle sales in the US and 10% globally. The automaker sold 7,341 EVs in the US and 51,600 globally, with the EQB SUV and EQA leading in model-specific sales. Mercedes' investments in vertical integration, renewable energy, and production upgrades have put it in a strong market position to compete with Tesla's profit margins.