Mercedes’ financial situation has not been affected by the team’s decline in performance over the past two years. Despite struggling in Formula 1’s ground-effect era and falling behind Red Bull and Ferrari in 2022, Mercedes still managed to declare a turnover of £546.5 Million (Approximately $680 Million), surpassing rival Red Bull by $161 Million. This makes Mercedes the first team to exceed half a Billion dollars in turnover. Although their performance on the track has been lackluster, the team has maintained a good profit, with a slight drop from $89.7 Million to $83.8 Million due to increased machinery costs and staff numbers.
The decline in Mercedes’ popularity can be attributed to their underwhelming performance. Other teams have achieved better results, resulting in a decrease in television coverage. In 2023, Mercedes’ on-track coverage accounted for only 14.7% of the total footage. However, their social media presence has fared better, with a cumulative increase of 36 Million followers across multiple platforms. To regain lost television coverage, Mercedes simply needs to return to their winning ways.
Despite their struggles, Mercedes has been consistently upgrading their W15 challenger to improve performance. Despite the issues, the team has managed to maintain strong financial benefits. Mercedes is determined to achieve a podium finish soon and help Lewis Hamilton end the season on a high note.