Tag: $Mercedes-Benz

Mercedes-Benz (MBGn.DE), opens new tab on Thursday announced further cost-cutting and more petrol and diesel cars than EVs in its new product range, in a bid to revive margins as the company braces for a sharp drop in earnings in 2025

Mercedes-Benz car sales fell 3% to 1.98 million vehicles in 2024 amid a challenging global market, with top-end vehicle sales weighed by market conditions in China, model changes and weak electric-vehicle demand.

Mercedes-Benz will step up cost cuts after earnings halved in the third quarter hit by tepid demand and fierce competition in China, it said on Friday.

Mercedes-Benz saw a slight drop in cars sales in the third quarter as weaker demand, particularly in Asia, outweighed improved product availability, the carmaker said on Thursday.

 Mercedes-Benz  cut its full-year profit margin target for the second time in less than two months, hitting European auto stocks as it joined a growing number of rivals that are blaming a weakening Chinese car market, the world’s largest.

Mercedes-Benz lowered its annual profit margin forecast after weak second quarter sales and earnings on Friday but expects new models to help it battle stiff competition in China in the second half of the year.

Mercedes-Benz Group raised its dividend despite posting a decline for fourth-quarter sales and net profit, and forecast lower earnings this year on geopolitical and macroeconomic uncertainty.

Mercedes-Benz shares fell Thursday as it reported lower profit and revenue and highlighted pricing challenges in the electric vehicle space.