Car Companies: Losses in China Endanger Overall Balance Sheets
11 Articles
11 Articles
The European automobile industry faces double pressure from China's competition, with its companies' sales in China falling and the share of Chinese brands growing within Europe, which leads Brussels to look for new trade restrictions.
The collapse of the Chinese market continues to cause sales declines at the Stuttgart automaker. However, the strong demand for e-cars is a source of hope.
For VW, BMW and Mercedes, the fall in sales in China has reached a new dimension. There is no end in sight. Now the entire profit targets of the companies are in danger.
German automaker Mercedes-Benz said on Wednesday that sales in the company's core passenger car business continued to decline in the third quarter, Reuters reports.
The collapse of the Chinese market continues to cause sales declines at the Stuttgart automaker. However, the strong demand for e-cars is a source of hope.
A further collapse in China has prevented Mercedes-Benz from selling in the third quarter. Altogether, the Dax Group sold 407,200 cars, 8 percent less than a year earlier.
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