Mercedes-Benz eSprinter Arrives in Brazil as China Sales Slump and EV Mix Gains Momentum
Published on 07/14/2026 at 18:26 | Redaktion boerse-global.de
Mercedes-Benz has begun offering its electric van in South America, launching the eSprinter 420 "Furgão Vidrado" in Brazil. The vehicle, capable of carrying up to 16 passengers, packs an 81-kWh battery rated for as much as 329 kilometres under WLTP norms and a payload of 1,425 kilograms. It also comes with the MBUX infotainment system mounted on a 10.25-inch display — a clear signal the group is serious about electrifying its commercial fleet beyond Europe.
That push into emerging markets comes at a time when the automaker's core Chinese business is taking a beating. In the second quarter of 2026, Mercedes-Benz delivered 98,600 passenger cars in China — a 30 percent drop from a year earlier. The broader global tally of 417,800 units fell 8 percent year-on-year, with China almost single-handedly dragging the number down as local premium rivals gain ground and consumer sentiment stays cautious. By contrast, North America posted a 13 percent increase, Europe rose 4 percent, and the German home market added 6 percent.
The stock, meanwhile, has been trading with a split personality. On the day the China sales figures were released, shares climbed 1.99 percent to €45.13, suggesting the weakness had already been priced in. But the longer-term trajectory is stark: year to date, the equity is down roughly 28 percent, and the most recent close of €44.26 sits just 3.8 percent above its 52-week low of €42.64 hit two weeks ago. The 52-week high of €62.30 from December 2025 now seems a distant memory. The market capitalisation stands at €41.94 billion, keeping Mercedes-Benz comfortably among the DAX heavyweights.
Should investors sell immediately? Or is it worth buying Mercedes-Benz?
Analysts remain surprisingly unfazed. Jefferies reiterated its "Buy" rating with a €52 price target, calling the stock the "most defensive" among German auto names and noting that the management's pre-close call came without negative surprises. Bernstein Research stuck to "Market-Perform" with a €61 target, pointing to stable passenger-car margins within the full-year guidance and positive industrial free cash flow in the quarter.
Two pockets of strength are helping to offset the China drag. Battery-electric vehicle sales surged 50 percent to 63,000 units, lifting the EV mix from 7.7 percent to 13 percent of total passenger-car deliveries. The van division sold 94,100 light commercial vehicles, up 1 percent, while e-van volumes jumped 46 percent. The global electric share of the van fleet reached 11 percent (13 percent in Europe), and the Brazil eSprinter launch aims to push that figure higher still.
The broader industry landscape is mixed. Volkswagen’s truck unit Traton recently posted preliminary quarterly numbers that beat expectations, but the passenger-car segment continues to face headwinds from softening demand and intense competition. For Mercedes-Benz, the focus remains on profitability and cash flow. The ramp-up of electric C-Class production in Kecskemét, with deliveries scheduled to start in September 2026, adds another layer of capacity just as the group looks to defend margins when detailed second-quarter results land at the end of July.
From a technical standpoint, the stock is trading nearly 19 percent below its 200-day moving average, and annualised 30-day volatility stands at 29.46 percent. The relative strength index has fluctuated between 40.5 and 46.3 in recent sessions — a zone that suggests neither excessive selling pressure nor imminent recovery. Investors will be watching closely to see whether the van and EV margin improvements can truly compensate for the lost volume in China, or whether the eSprinter’s Brazilian debut is merely a sideshow while the core business remains under siege.
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