Mercedes-Benz Reports Decreased Q3 Profit Due to Low Sales; Anticipates Much Lower FY25 Earnings
Third Quarter Financial Performance: Mercedes-Benz reported a 30.8% drop in net profit to 1.19 billion euros and a 70.2% decline in EBIT to 750 million euros, primarily due to lower sales volume and increased expenses.
Revenue Decline: The company's revenue fell 6.9% to 32.15 billion euros, with significant decreases in both the Cars and Vans segments, reflecting a challenging market environment.
Future Outlook: For fiscal 2025, Mercedes-Benz anticipates EBIT and revenues to be significantly below last year's figures, with unit sales expected to remain low compared to previous years.
Product Launches: CEO Ola Kaellenius emphasized that the company is on track with its major product and technology launch program, introducing new models tailored to market needs despite current financial challenges.
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