Han media: Affected by US tariffs, Mercedes-Benz's third-quarter net profit plummeted 30.8%!
On November 23, South Korean media "Today's Finance" published an article stating that the German automobile manufacturer Mercedes-Benz Group announced disappointing third-quarter results, mainly affected by US tariffs.
In recent financial reports, Mercedes-Benz announced that its third-quarter net profit fell 30.8% year-on-year to 1.19 billion euros, compared to 1.719 billion euros in the same period last year.
Mercedes-Benz explained that the performance decline was "due to a drop in sales, increased costs caused by tariffs, and exchange rate fluctuations," and stated that it had invested more than 800 million euros in layoffs in Germany and overseas efficiency improvement projects.
Notably, Chinese consumers are reducing their purchases of imported luxury cars, leading to a 27% decline in Mercedes-Benz's sales in China during the third quarter.
Bloomberg reported that this is the worst quarterly performance since 2016.
Mercedes-Benz CEO Ola Källenius said, "The intense competition in the Chinese market will not ease in the short term," and added, "This is a task that will take several years to complete."
Mercedes-Benz also stated that the sales of its high-end models priced over 1 million yuan in China increased by 13%, and the third-quarter performance met the annual target.
Original: www.toutiao.com/article/1849581459509260/
Statement: This article represents the views of the author.