Mercedes-Benz reports Q1 sales of 35,873 ME, down 4.4% on the same period a year earlier.

At the same time, adjusted EBIT contracted by 33.6% to 3,598 ME, and net income came in at 3,025 ME, down 24.6% but ahead of consensus, for EPS of 2.86 euros, down 22.5%.

FCF came in at 2,233 ME, up 3.2%.

Harald Wilhelm, CFO of Mercedes-Benz Group AG, commented: "While remaining vigilant with regard to the global macroeconomic and geopolitical outlook, we confirm our financial targets for the full year 2024.

For 2024, the automaker is targeting Group sales at the same level as in 2023. Group EBIT and free cash flow from industrial operations are expected to be slightly below the previous year's level.

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