Mercedes-Benz faces challenges in the electric vehicle (EV) market, leading to lower earnings in the third quarter. The company stated that heavy price cuts and supply chain issues have created a “brutal” EV market, causing it to likely hit the lower end of its adjusted return on sales forecast. Mercedes-Benz remains committed to its EV targets but may seek better returns from its combustion engine portfolio if margins on EVs remain lower than expected. In response to pricing competition, the company stated that discounts offered in Germany during the fourth quarter do not represent a shift in its pricing strategy. Mercedes-Benz reported a 6.8% decline in earnings before interest and taxes (EBIT) in Q3, with overall group revenue down 1.4%. The challenging market environment has dampened earnings, but the company expects sales to remain stable in the fourth quarter and has not adjusted its full-year sales target.
Читать полную новость на сайте