Automaker blames weak China, fierce competition for slump
PUBLISHED : 25 Oct 2024 at 14:16
Signage at a Mercedes-Benz Group AG dealership in Shanghai, China, on Thursday.
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Automaker blames weak China, fierce competition for slump
PUBLISHED : 25 Oct 2024 at 14:16
Signage at a Mercedes-Benz Group AG dealership in Shanghai, China, on Thursday. (Photo: Bloomberg)
WARSAW – German premium automaker Mercedes-Benz on Friday said third-quarter earnings in the core car division plunged by 64%, massively missing analysts’ estimates, as Chinese consumers continued to cut back on luxury goods in a weakening economy.
“The Q3 results do…