Mercedes-Benz introduced a cost-cutting drive as income plunged by almost a 3rd amid a slowdown in its electrical automobile enterprise.
EV gross sales plunged by 23pc whereas gross sales in China, the German automobile large’s largest single market, dropped by 7pc in 2024.
The corporate’s income fell by 28pc to €10.4bn (£8.6bn) final 12 months, whereas revenues additionally slid about 4pc to €145.6bn (£121.4bn).
The group stated it deliberate to slash manufacturing prices by 10pc by 2027 because it seeks to “guarantee the corporate’s future competitiveness”.
Chief government Ola Kallenius stated: “In an more and more unsure world, we’re taking steps to make the corporate leaner, sooner and stronger.”
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