Mercedes-Benz’s profits fell by half in the first nine months. The Stuttgart-based car manufacturer announced that consolidated earnings fell by 50.3 percent from 7.80 billion euros to 3.87 billion euros compared to the same period last year. The Swabians cited customs duties, lower sales figures and expenses for efficiency measures as reasons for this. CEO… Continue reading German FAZ: Profit slump at Mercedes010152
Tag: Daimler
German Manager Magazine: Material shortage: Chip shortage is increasingly putting a strain on German industry004519
There are signs of an increasing chip shortage in German industry. In October, 10.4 percent of manufacturers of electronic and optical products complained about material shortages, according to the Munich Ifo Institute based on its regular surveys. In April it was only 3.8 percent. “The control mechanisms and trade restrictions for rare earths are having… Continue reading German Manager Magazine: Material shortage: Chip shortage is increasingly putting a strain on German industry004519
EU carmakers ‘days away’ from factories halting work in chip war with China
Workers at the Volkswagen car factory in Germany. Companies such as Mercedes are now searching globally for alternatives sources for the Nexperia chip. Photograph: Jens Schlueter/Getty Images View image in fullscreen Workers at the Volkswagen car factory in Germany. Companies such as Mercedes are now searching globally for alternatives sources for the Nexperia chip. Photograph:… Continue reading EU carmakers ‘days away’ from factories halting work in chip war with China
Lexus hints at plan to rival Cayenne and iX with LS SUV
Lexus has revealed the new LS Coupé concept as one of a number of models – including the single-seat Micro LS and huge, six-wheeled LS MPV – that could form part of an expanded family of LS vehicles inspired by the seminal luxury saloon of the same name. The Toyota-owned brand is responding to the… Continue reading Lexus hints at plan to rival Cayenne and iX with LS SUV
German Handelsblatt: Car manufacturer: Mercedes shares rise significantly after profits collapse – almost 900 million euros in costs for severance payments011727
The car manufacturer earned significantly less money in the first nine months. This is due to problems in the USA and China. But also because of a special effect. Go to Source
German Handelsblatt: Economic downturn: After a collapse in profits: Why things aren’t going well at Mercedes011726
Tariffs, slumping sales, job cuts: Mercedes-Benz has to tighten its belt and cope with a slump in profits. What’s behind the numbers – and why things are going up on the stock market. Go to Source
German Handelsblatt: Comment: Mercedes and Bosch should be wake-up calls – why no one hears them011725
In industry, profits, jobs and prospects are disappearing. Nevertheless, the topic hardly reaches a broader public. This is due to politics – but also to the companies themselves. Go to Source
German Handelsblatt: Comment: Mercedes and Bosch should be wake-up calls – why no one hears them011724
In industry, profits, jobs and prospects are disappearing. Nevertheless, the topic hardly reaches a broader public. This is due to politics – but also to the companies themselves. Go to Source
German Manager Magazine: Mercedes: Profits collapse, shareholders rejoice004518
Sharply falling sales in China and burdens from the US import tariff, along with special effects, caused Mercedes-Benz’s profits to collapse in the third quarter. From July to September, the adjusted operating profit shrank by 17 percent to 2.1 billion euros, as the car manufacturer announced on Wednesday. Mercedes cited low sales volume and higher… Continue reading German Manager Magazine: Mercedes: Profits collapse, shareholders rejoice004518
Mercedes profits slump on weak China sales, US tariffs and UK finance provision
John Burn-Murdoch is the Financial Times’ Chief Data Reporter. He led the FT’s data-driven coverage of the pandemic, exploring its impacts on health, the economy and wider society. When pandemics are not happening, he uses data and graphics to tell stories on topics including politics, economics, climate change and sport, and is a visiting lecturer… Continue reading Mercedes profits slump on weak China sales, US tariffs and UK finance provision