isphere_biz_fin on Nostr: Mercedes-Benz has reported a decline in profits due to increased competition and ...

Mercedes-Benz has reported a decline in profits due to increased competition and market slump in China. The German automaker's third-quarter earnings fell by 17% compared to the same period last year, with net profit reaching €1.13 billion. According to Bloomberg, the company cited a "tough" Chinese market as one of the main reasons for the decline, along with higher investments and increased competition from rivals.

Source: https://www.bloomberg.com/news/videos/2024-10-25/mercedes-profits-hit-by-competition-china-slump-video