Mercedes-Benz: AMG EV Sold Out, But Stock Bleeds as Restructuring Push Gains Urgency

All-electric AMG GT-Coupé sold out for 2026, but Mercedes-Benz shares near multi-year lows amid bureaucracy cuts and China price war; technicals signal potential bottom.

At Mercedes-Benz, two stories are unfolding in stark contrast. On one hand, the new all-electric AMG GT-Coupé has been completely sold out before most customers could even place an order — the entire 2026 production run is already allocated, and new buyers face a wait until early 2027. On the other hand, the group’s shares continue to languish near multi-year lows, a reflection of deeper structural problems that management is now confronting head?on.

Internal gridlock is the target of a fresh offensive led by personnel chief Britta Seeger, who has called for an aggressive dismantling of bureaucracy. “The company is simply too slow,” she argued, pointing to mounting competition from Chinese rivals as an urgent catalyst for change. The push to slash red tape is intended to make Mercedes?Benz more agile and protect its long?term profitability in a market where volume players are locked in a brutal price war.

That price war has been particularly punishing in China, where weak demand and geopolitical strains are weighing heavily on earnings. First?quarter results underscored the pressure: group revenue came in at €31.6 billion, while the adjusted return on sales in the car division hit 4.1% — exactly in line with its own forecast but hardly a cause for celebration. The luxury segment, meanwhile, suffered a minor reputational blow with a recall of nine S?Class and EQS models built in June 2025 due to a poorly bonded windshield. Though the cost is negligible, it chips away at the premium image Mercedes is banking on.

The stock market has already priced in much of the gloom. The equity shed nearly 27% since the start of the year, closing Friday at €45.09 after touching a fresh 2025 low of €43.99 two days earlier. Technical analysts see a bullish harami pattern forming on the daily chart, a signal that often precedes a bottom. The relative?strength index stands at 32.5, deep in oversold territory, tempting value?oriented buyers to dip in. But the road to recovery is steep: the shares trade more than 18% below their 200?day moving average, and the first meaningful resistance sits at the 50?day average near €50.

Adding to the cautious mood, Mercedes?Benz wrapped up its share buyback programme in early June after repurchasing almost €2 billion worth of stock — paper bought at an average price of roughly €53, well above current levels. That source of support is now gone. Meanwhile, rivals are sending worrying signals: Porsche is preparing its second cost?savings package in months, and BMW recently slashed its margin guidance.

Investors will look to the European new?car registration data due from ACEA on 23 June for clues on spring demand, followed by Mercedes?Benz’s half?year results on 28 July. Until then, the company’s luxury?first strategy appears to be working in niche pockets — the AMG EV’s sell?out is proof that high?end electric vehicles can command premium pricing. But translating that success into a broader stock turnaround will require more than a hot model; it will demand a cultural overhaul that cuts through corporate inertia and delivers on the margins the market expects.