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Mercedes-Benz reports poor financial results in Q3
According to Mercedes-Benz Group, it took a 6.7% hit to revenue and a painful 53.8% blow to net profit in the third quarter of the year.
The biggest contributing factor was electric vehicle sales. In Q3, the company sold a dismal 42,544 EVs – down 31% from the year before. Combines vehicle sales declined by 1.4% with 503,573 units.
A 17% slump in China sales from the beginning of the year contributed to the disappointing report.
Editor: Andrew Raspopov
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October 30, 2024
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