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\nBERLIN: German high-end carmaker Mercedes-Benz on Thursday lowered its guidance for the 2024 financial year, citing a<\/p>\n

According to German news agency (dpa), the company now expects annual earnings before interest and taxes (EBIT) to be significantly below the prior year’s level, whereas it had previously anticipated a slight decline compared to the prior year.<\/p>\n

According to the Stuttgart-based firm, China’s gross domestic product growth has lost further momentum due to weaker consumption and an ongoing downturn in the real estate sector.<\/p>\n

This decline has impacted overall sales volume in China, including the Top-End segment. As a result, the sales mix for the second half of 2024 is anticipated<\/p>\n

to remain consistent with the first half, but weaker than originally projected.<\/p>\n

Additionally, the second half of 2024 is expected to face various valuation adjustments, and the dynamic pricing environment is likely to persist.<\/p>\n

Mercedes-Benz Cars now expects annual adjusted Return on Sales to be between 7.5% and 8.5% compared to the prior outlook of 10% to 11%. The free cash flow of the industrial business is now expected to be significantly below the prior year’s level, compared to the previous expectation of a slight decline.<\/p>\n

Source: Emirates News Agency <\/p>\n","protected":false},"excerpt":{"rendered":"

BERLIN: German high-end carmaker Mercedes-Benz on Thursday lowered its guidance for the 2024 financial year, citing a<\/p>\n

deterioration of its business in China.<\/p>\n

According to German news agency (dpa), the company now expects annual earnings before inter…<\/p>\n<\/div>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-274893","post","type-post","status-publish","format-standard","hentry","category-production"],"yoast_head":"\nGermany's Mercedes-Benz lowers forecast due to weakness in China - Fujairah Updates<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fujairahupdates.com\/germanys-mercedes-benz-lowers-forecast-due-to-weakness-in-china\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Germany's Mercedes-Benz lowers forecast due to weakness in China - Fujairah Updates\" \/>\n<meta property=\"og:description\" content=\"BERLIN: German high-end carmaker Mercedes-Benz on Thursday lowered its guidance for the 2024 financial year, citing a deterioration of its business in China. 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