Mercedes, China
Mercedes Also Hit By Weak Sales, China Competition, Faltering EVs
Mercedes cut its profit forecast following BMW as German auto makers reel from slowing home sales, China competition and struggling EVs.
Mercedes’ China motor hits one of two roadblocks
Mercedes-Benz’s all-important China motor is sputtering. The $64 billion luxury carmaker warned of collapsing earnings and free cash flow this year, as a real estate bust in the People’s Republic means less demand for upmarket rides.
Mercedes-Benz Slashes Profit Target Again, Blaming Slowing China Market
Mercedes-Benz’s profit outlook has taken a hit as China’s luxury car market slows. Shares plummet 7.5%. Mercedes-Benz has joined a growing chorus of automakers facing headwinds in China,cutting its full-year profit margin target for the second time in less than two months.
Mercedes-Benz Sells Out of China EV Maker as Luxury Spending Drops
Mercedes-Benz has sold its remaining 10% stake in premium EV and hybrid maker Denza to BYD in the wake of disappointing sales locally.
Mercedes Adjusts Sales Forecast, Cites Weak Demand in China, Real Estate Troubles
Mercedes-Benz shares dropped 8% Friday after the automaker cut its 2024 guidance, citing weak demand in China and ongoing trade tensions. The company expects earnings before interest and taxes to fall “significantly below” last year’s level.
Mercedes-Benz Exits China’s Competitive EV Market Amid Rising Local Competition
Mercedes-Benz has decided to exit the Chinese EV market, selling its joint venture stake to BYD, China’s largest EV manufacturer. Mercedes faced stiff competition from local Chinese automakers, who produce high-quality,
Mercedes Slumps After Warning China Rout Is Hurting Profits
Mercedes-Benz Group AG shares fell the most in four years after a deepening slowdown in China prompted the world’s biggest ...
Mercedes, BMW Flash Warning Lights on China
Top-end German carmakers have joined expensive French handbags among the products hit by weak consumer sentiment in the ...
Mercedes shares slump over 6% after carmaker cuts 2024 guidance on weak China demand
Mercedes shares fell more than 8% Friday after the German carmaker cut its 2024 guidance on the back of weaker demand from ...
Mercedes-Benz cuts margin outlook on weak Chinese market, shares fall
Mercedes-Benz cut its full-year profit margin target for the second time in less than two months, hitting European auto ...
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German auto giant Mercedes-Benz recalls half a million cars in China
German auto giant Mercedes-Benz is recalling more than half a million cars in China due to a technical defect. The Chinese ...
BYD Moves to Full Control of Mercedes-Benz Venture in China
Chinese automaker BYD Co. has moved to fully control a joint venture it had in China with Mercedes-Benz Group AG, as an ...
Mercedes-Benz Group Cuts Full-Year Outlook, Citing Macroeconomic Deterioration
The German luxury carmaker said the move was triggered by the further deterioration of the macroeconomic environment, ...