Mercedes revising profit outlook downwards in sluggish car market, source says

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Mercedes revising profit outlook downwards in sluggish car market, source says

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Mercedes revising profit outlook downwards in sluggish car market, source says

^{Published on 2025-01-07 10:21:31 - Reuters}

Mercedes-Benz will lower mid-term profitability targets for its passenger car business due to prolonged weakness in the market and the switch to electric-powered vehicles, a source familiar with the matter told Reuters on Tuesday.

Mercedes-Benz is revising its profit outlook downwards due to a sluggish car market, as reported by Reuters on January 7, 2025. The luxury carmaker, which had previously forecasted a slight increase in earnings, is now facing challenges from weaker demand in key markets like China and Europe, alongside increased competition and higher costs for raw materials and logistics. This adjustment reflects broader economic uncertainties and a shift in consumer behavior towards more conservative spending on high-end vehicles. The company is also dealing with the transition to electric vehicles, which involves significant investment and has not yet yielded the expected returns. Mercedes-Benz plans to provide more details in its upcoming financial statement.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/autos-transportation/mercedes-revising-profit-outlook-downwards-sluggish-car-market-source-says-2025-01-07/ ]

Contributing Sources

Reuters

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Mercedes revising profit outlook downwards in sluggish car market, source says