Mercedes-Benz Profits Hit By China Slowdown, Cost Cuts Planned
Mercedes-Benz Group AG is planning to ramp up cost reductions following a sharp drop in profitability due to fierce competition and weakening demand in China. The company’s core profitability measure fell to 4.7% in the third quarter, significantly below its minimum target of 8%, marking the lowest level since its split from Daimler Truck in […]