Mercedes-Benz and Porsche Face Profit Declines Amid Weak Chinese Market

Both luxury carmakers report significant financial setbacks in the third quarter, driven by reduced demand in China and increased competition.

Mercedes-Benz's third-quarter profits dropped by over 50%, with a significant impact from declining sales in China.
Porsche experienced a 27% fall in operating profit, with third-quarter sales in China at their lowest in a decade.
Mercedes-Benz's electric vehicle sales decreased by 31%, highlighting challenges in the competitive EV market.
Porsche aims to recover by year-end, despite a 5.2% revenue decline and ongoing issues in the Chinese market.
Both companies are implementing cost-cutting measures to address the financial downturn and improve efficiency.