Mercedes lowers profit margin forecast
Edited By WION Video Desk
Published: Jul 28, 2024, 05:30 IST | Updated: Jul 28, 2024, 05:30 IST
Mercedes-Benz has revised its annual profit margin forecast downward following a disappointing second quarter marked by sluggish sales and earnings. The German automaker now expects an adjusted return on sales between 10% and 11%, a reduction from its earlier target of 10% to 12%. This forecast adjustment comes as Mercedes struggles with weak demand for electric vehicles (EVs) and tough competition in China, the world’s largest car market.
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