Mercedes-Benz reduced its annual profit margin forecast for its core car division to 10-11% due to model changeovers and a subdued market in Asia.
Mercedes-Benz reduced its annual profit margin forecast for its core car division to an adjusted return on sales between 10-11%, down from the previous target of 10-12%. The German luxury automaker faced challenges due to model changeovers and a subdued market environment in Asia, leading to a 27.5% fall in adjusted earnings in its car division during Q2. Mercedes-Benz now expects an uptick in sales in the second half of the year, supported by new model launches, particularly in the top-end segment.
July 26, 2024
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