Mercedes-Benz cuts sales forecast from 11% to 7.5% due to China’s economic downturn
Mercedes-Benz Group has cut its financial outlook, citing a sharp decline in its performance in the Chinese market. The luxury carmaker now expects adjusted returns for its main automotive division to fall by 7.5% to 8.5%, a sharp drop from its previous forecast of 11%, according to Bloomberg. The company’s statement late Thursday cited China,