STUTTGART (dpa-AFX) - Following several exceptionally strong fiscal years with robust profits, particularly over the last two years, Mercedes-Benz has recorded significant declines in key financial metrics. The successful years were likely driven by the Stuttgart-based automaker's ability to generate substantially more revenue per vehicle sold on average.
While Mercedes managed to sharply increase revenue per passenger car since 2019, the figure has fallen in the two subsequent years following its 2023 peak. This is according to an analysis of the so-called "Average Selling Price" (ASP) conducted by the Deutsche Presse-Agentur in Stuttgart. The financial metric is derived from annual results presentations.
According to the data, the ASP in 2025 stood at 68,100 euros, down from 71,000 euros the previous year. This represents a four percent decline. In 2019, the ASP was still at a comparatively modest 51,000 euros. A steep climb followed: it first rose to 55,700 euros in 2020, followed by 67,100 euros (2021) and 72,900 euros (2022). In 2023, it finally reached 74,200 euros.
What the ASP indicates and what influences it
The ASP relates the revenue of the passenger car division to its unit sales, a spokesperson stated upon inquiry. Only the fully consolidated core business is considered. However, according to the spokesperson, the value is only partially suitable as an indicator of how prices have evolved from the customer's perspective.
While sales prices are naturally a major factor, a number of other - partly external - factors come into play, such as currency effects. Consequently, the metric can change significantly without any actual change in the price paid by customers.
In 2025, currency effects were significant, explaining part of the decline compared to the previous year. "The significant increase in the value is primarily the result of a consistent implementation of our strategy - our focus is clearly on value creation rather than pure volume," the spokesperson said.
Mercedes has significantly expanded the share of its top-end vehicles, which yield particularly high profits. This category includes, for example, the S-Class or G-Class, as well as AMG or Maybach. While these accounted for approximately ten percent of the portfolio in 2019, the share reached 15 percent in 2025, according to the spokesperson. Simultaneously, Mercedes shifted its sales toward higher-specification vehicles. In parallel, Mercedes deliberately reduced the share of traditionally lower-margin fleet and volume channels.
Industry expert Ferdinand Dudenhöffer noted that Mercedes had relied on a luxury strategy in recent years but has now adjusted that course. The automaker is "no longer focusing on pure luxury." He observed that the upward trajectory has its limits. Dudenhöffer said he does not expect the metric to rise above 70,000 euros again in the coming years.
Profit slump in 2025
Profit at the DAX-listed group plummeted by nearly half to 5.3 billion euros in 2025. Tariffs, negative exchange rate effects, and intense competition in China weighed on the results. Revenue and unit sales also declined. Mercedes had already recorded a significant drop in profit in 2024. The automaker responded by launching a cost-cutting program to restore profitability./rwi/DP/zb
