"German premium carmaker Mercedes-Benz reported plunging third-quarter profit Wednesday, hit by weak sales in China as well as US tariffs. Net profit at the Stuttgart-based company fell 30.8 percent to hit 1.19 billion euros, beating analyst expectations of 1.09 billion euros in a poll by financial data firm FactSet. "Our third-quarter results are in line with our full-year guidance," Mercedes-Benz boss Ola Kaellenius said."
"In July, the firm lowered its outlook for the year after US President Donald Trump's tariff onslaught and said it expected revenue for 2025 to be "significantly below" the 146 billion euros it took in last year. Car exports from the European Union are subject to a tariff of 15 percent under an EU-US deal unveiled late July, down from 27.5 percent but far higher than the 2.5 percent in force before Trump launched his trade war in April."
Mercedes-Benz recorded a 30.8 percent decline in third-quarter net profit to 1.19 billion euros, narrowly exceeding analyst expectations. The company indicated its third-quarter results align with its full-year guidance. The firm lowered its annual outlook in July after US tariffs and warned 2025 revenue is expected to be significantly below last year’s 146 billion euros. EU-US terms set a 15 percent tariff on car exports to the US, while US duties impose 25 percent on imported car parts from outside North America. China sales volumes fell 27 percent in the quarter, dragging overall sales down 12 percent amid intense local competition and price pressure.
Read at The Local Germany
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