The German carmaker said it had faced intense price competition, particularly in electric vehicles.
Mercedes-Benz shares fell Thursday as it reported lower profit and revenue and highlighted pricing challenges in the electric vehicle space.
Shares were down 5.7% at 10 a.m. London time, putting the stock on course for its worst day since May 4, according to LSEG data. Group earnings before interest and taxes fell 7% to 4.8 billion euros in the third quarter. Revenue was down 1.4% to 37.2 billion euros, below the consensus estimate, as passenger car sales dropped 5%, partially due to supply chain challenges.showed overall car sales for the first nine months have been roughly stable, with growth in Germany and a decline in China.
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