Morning Briefing: Can Mercedes still be saved?
Mercedes is losing sales and profit margins, and its workforce is also becoming increasingly restless. Whether the company will remain a global player or shrink to a regional brand now depends on a rescue plan.
Mercedes-Benz is facing one of the toughest crises in its history, with shrinking profits and declining sales. In the second quarter, the car division achieved a meager 0.2 percent return on sales. The company has sold 1.24 million cars from January to September, a 7 percent drop from the same period last year. Mercedes-Benz CEO Ola Källenius is attempting to turn things around with a major plan, including cutting several thousand temporary workers and shifting some production abroad.
The company also plans to adopt a modular design approach, building future models from interchangeable modules.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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