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Mercedes-Benz cut its Guidance The adjusted return on sales for cars is now 2–3%, down from 3–5%, and EBIT is expected at about last year's level. Mercedes has lowered its full-year forecast, as higher-than-expected input costs and deteriorating sales figures in China weigh on fourth-quarter results. The profit margin for Mercedes’ car division nearly halved in the third quarter. The adjusted return on sales slumped to 2.5 percent, down from 4.8 percent in the same period last year, the company announced on Wednesday. In China, sales fell by 31 percent to 86,800 vehicles delivered. “In addition to an increasingly challenging market environment in China, the Mercedes-Benz Group expects higher costs in the fourth quarter, including higher material costs,” the company stated. Meanwhile, Mercedes-Benz is offering severance payments of up to 330,000 euros to employees who agree to the termination of their employment contract. Its getting worse from here.

Mercedes-Benz Group is pushing ahead with its biggest product and cost overhaul in years, betting it can restore profitability even as China turns from a growth engine into one of the biggest drags on the business.

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MERCEDES-BENZ JUST REVEALED ITS FIRST ELECTRIC SUV BUILT ENTIRELY BY AMG The AMG GT SUV starts at about $127,060, per Bloomberg. The base version will provide up to 668 kilometers (415 miles) of range, while the top-end models can travel 700 km on a single charge. The very top-of-the-range variant can hit 100 kilometers per hour in 2.5 seconds.

Mercedes-Benz debuted the first electric SUV developed entirely in-house by its AMG brand, betting that high performance will help it stand out in an increasingly crowded luxury market