Mercedes-Benz Group AG - Company Profile
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Business Description
Mercedes-Benz Group AG (Mercedes-Benz), formerly Daimler AG, develops, manufactures, and distributes passenger cars and vans. It also provides financing, leasing, fleet management, insurance, and mobility services. The company markets its offerings under Mercedes-Benz, MAYBACH, AMG, Mercedesme, Mercedes-Benz Bank, Mercedes-Benz Financial Services, and ATHLON.
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R&D Overview
Mercedes-Benz’s research and development efforts focus on developing products in the areas of digitalization, automated-driving vehicles, and electric mobility. The company also partners with external companies to bring innovation into its vehicles and ecosystems more quickly and expeditiously. It intends to continue to devote its engineering skills to the creation of pioneering products and innovations. In FY2023, the company spent US$9,996 million on Research and Development, which as a percentage of revenue, stood at 6.5% and grew 17% YoY.
Business Segments
Overview
It designs, develops, manufactures, assembles, and sells cars globally. The segment offers cars under three broad categories; Top-end, Core, and Entry. The Top end offers Mercedes-Maybach, Mercedes-AMG, the G-Class, the S-Class the GLS, the EQS Sedan, and the EQS SUV. The Core range includes Mercedes-Benz C-Class and E-Class models. The Entry category includes A-Class and B-Class models and their derivatives. The segment intends to offer cars based on six strategic pillars which are: Think and act like a luxury brand, Focus on profitable growth; Expand customer base by growing Top-End Luxury; Embrace customers and grow lifetime revenues; Lead in electric drive and digital experience; and Lower cost base, improve industrial footprint and increase supply chain resilience.
Performance
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Overview
It facilitates sales of the group's automotive brands with customized mobility and financial services. Offers financing, insurance, and leasing packages for customers and dealers; fleet management services and investment products; and various mobility services. It also offers activities related to electric vehicle charging. The segment is also in the process of integrating its Mercedes pay digital electronic payment platform into numerous applications at the Mercedes-Benz Group. Brands: YOUR NOW, Mercedes-Benz Bank, Mercedes-Benz Financial Services, Athlon, Mercedes-Benz Rent. The segment intends to offer services based on five key areas within its strategy: Electrify our future: Mercedes-Benz Mobility is supporting the transformation to electric mobility with tailored products and services; Excite our customers: It is seamlessly integrating itself into the Mercedes-Benz ecosystem; Excite our customers: It is seamlessly integrating itself into the Mercedes-Benz ecosystem; Go for data: It is evolving into a data-driven company; and Imagine it, do it, live it: It is also strengthening a high-performance culture.
Performance
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Overview
Offers a range of vans including the Sprinter large van, the Citan urban delivery van, and the Vito mid-sized van for the commercial segment. Also offers V-Class full-size multi-purpose vehicles, recreational vehicles, Marco Polo camper vans, and T-Class vans for the private segment. The segment intends to vans and related services to customers based on four pillars: Target premium segments and focus on profitable growth; Embrace customers and grow lifetime revenues; Lead in electric drive and the digital experience; and Lower the total cost base and improve the industrial footprint.
Performance
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Geographical Segments
- Asia, excluding China
- China
- Europe, excluding Germany
- Germany
- North America, excluding United States
- Other Markets
- United States
Target Markets
Singapore, Thailand, India, Japan, South Korea and Vietnam.
Performance
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Performance
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Target Markets
France, Poland, Luxembourg, Hungary, Czech Republic, Switzerland, Italy, Greece, Spain, Sweden and Russia.
Performance
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Performance
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Target Markets
Canada and Mexico.
Performance
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Target Markets
Africa, the Middle East and Latin America.
Performance
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Performance
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