• News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
Sunday, June 22, 2025
  • Login
Auto Journal Africa
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
Ask Autojorunal AI
No Result
View All Result
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
No Result
View All Result
Morning News
No Result
View All Result
Home Read a ride Cars/SUVs

Mercedes faces tough competition in China, adjusts profit outlook

David Ijaseun by David Ijaseun
July 28, 2024
in Cars/SUVs
0
Mercedes in China

Mercedes in China

687
SHARES
7k
VIEWS
Share on FacebookShare on Twitter

Mercedes-Benz has lowered its annual profit margin forecast following a challenging second quarter, marked by weak sales and earnings. The German automaker now anticipates an adjusted return on sales between 10-11%, down from the previous range of 10-12%. This adjustment comes as Mercedes contends with fierce competition in China and other market pressures.

The company’s group earnings before tax fell by 19% in the second quarter, highlighting the struggles faced by German automakers. The combination of lacklustre demand for electric vehicles (EVs), robust local competition in China, supply chain bottlenecks, and high interest rates has taken its toll.

READ ALSO

Tesla pauses Cybertruck and Model Y production to boost efficiency

Ferrari builds new 296 Speciale to honour its Le Mans legacy

“Mercedes is facing significant headwinds in China, a critical market for us,” said a company spokesperson. “However, we are optimistic that our new models will boost sales in the latter half of the year.”

Despite the hurdles, Mercedes expects plug-in hybrid sales to increase in the second half of 2024, driven by stronger demand in Europe and the U.S. for hybrid models, even as EV sales fall short of expectations. In the first half of the year, Mercedes reported a 6% drop in overall sales, with electric vehicle sales plunging 17%.

The company’s shares dipped by 1.4% in early trading following the revised forecast. Bernstein analysts noted that while some investors had anticipated a profit warning, the mere trimming of the margin forecast “will likely be met with relief.”

In the second quarter, Mercedes’ cars division achieved a 10.2% return on sales, though its adjusted earnings fell below analyst expectations. “Overall, Mercedes’ execution has improved, but overall sales and top-end sales mix have remained weak,” Reuters reported.

Read more on Germany to abstain from EU vote on China EV tariffs

Tags: All premiumMercedes-Benz

Related Posts

Tesla Model Y
Cars/SUVs

Tesla pauses Cybertruck and Model Y production to boost efficiency

June 19, 2025
Ferrari New 296 Speciale
Cars/SUVs

Ferrari builds new 296 Speciale to honour its Le Mans legacy

June 19, 2025
image source: Masonry
Cars/SUVs

Mansory unveils $1m convertible G-Wagen in collaboration with Alec Monopoly

June 19, 2025
Volkswagen tax in India
Business

Volkswagen to cut 20,000 jobs by 2030 in major restructuring

June 17, 2025
Ferrari dominates a dry 2025 Le Mans as rivals struggle to keep up
Cars/SUVs

Ferrari dominates a dry 2025 Le Mans as rivals struggle to keep up

June 17, 2025
Lamborghini: Combustion engines will live “as long as possible”
Business

Lamborghini: Combustion engines will live “as long as possible”

June 16, 2025
Next Post
Lexux EV Factory in China

Toyota targets 3.5 million EV sales with new Kyushu Battery plant for Lexus

POPULAR NEWS

Inferno at Toyota 1000 Desert Race consumes 49 cars

Inferno at Toyota 1000 Desert Race consumes 49 cars

July 3, 2023
Mobius Motors

Mobius Motors: Rising taxes, competition ends Kenyan SUV maker’s journey

August 7, 2024
Autojournal car race

Get ready for the biggest RACE show this December in Nigeria

August 12, 2024
From style to sustainability: How Geely Auto is shaping the future of luxury vehicles

From style to sustainability: How Geely Auto is shaping the future of luxury vehicles

October 25, 2024
Oyo State Governor gifts Saheed Osupa Toyota Prado SUV worth ₦70M 

Oyo State Governor gifts Saheed Osupa Toyota Prado SUV worth ₦70M 

August 22, 2023

EDITOR'S PICK

Toyota Industries

Investors speculate as Toyota Industries’ shares hits record highs

April 28, 2025
Airbus Hydrogen aircraft

Airbus unveils hydrogen-powered commercial aircraft

April 13, 2025
George Russell

George Russell leads call for FIA reforms over leadership concerns

November 22, 2024
Video: Why Dodge Challenger SRT is the ride you don’t need a test drive to ‘fall in love’ with

Video: Why Dodge Challenger SRT is the ride you don’t need a test drive to ‘fall in love’ with

April 9, 2024

About

Auto Journal Africa is the leading online and print magazine for automobiles in Africa.

Follow us

Recent Posts

  • Tesla signs landmark deal for China’s largest grid-scale battery plant
  • Heesen launches Sparta, its biggest yacht at 220 feet long
  • Lucid vs. Rivian: The battle for America’s EV future heats up
  • Tesla pauses Cybertruck and Model Y production to boost efficiency

Links

  • Privacy Policy
  • About Us
  • Contact Us
  • News
  • Reviews
  • Events
  • Tools
  • For Sale

© 2023 Auto Journal

No Result
View All Result
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa

© 2023 Auto Journal

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In