Category: Mercedes
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Mercedes car earnings plunge as China shuns luxury
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Written by Andrei Sychev (Reuters) – German luxury automaker Mercedes-Benz said on Friday that third-quarter profits at its core auto division fell 64%, significantly below analyst estimates, as Chinese consumers continued to cut back on purchases of luxury goods in a weak economy. “The third-quarter results do not meet our…
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BYD now owns 100% of Denza – a Mercedes JV in China (Pink Current Info:BYDDF)
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BYD (OTCPK:BYDDF) has taken full control of its joint venture with Mercedes-Benz (OTCPK:MBGAF) in China by buying the remaining 10% stake in Shenzhen Denza New Energy Automotive, according to Knife Post mail. The acquisition was completed on September 14, 2024, and will be followed by the acquisition by BYD (OTCPK:BYDDF).)…