Mercedes Q3 Profit Down 31% After €1.3bn Restructuring

Mercedes‑Benz reported a near 31% year‑on‑year drop in third‑quarter profit to €1.19 billion, with adjusted EBIT down to about €2.1 billion. Reported operating profit fell to about €750 million, a roughly 70% decline after €1.3 billion of one‑off restructuring costs (including €876 million in redundancy payouts). Revenue slipped to around €32.15 billion and sales in China dropped about 27% amid weak demand and fierce competition from local rivals such as BYD and Xiaomi. Management cited US tariffs, rising costs, negative foreign‑exchange effects and margin pressure from the EV transition as key headwinds. Mercedes said it will press ahead with efficiency measures and a cost‑cutting programme targeting roughly €5 billion in savings by 2027 — including a 10% reduction in production and fixed costs — will continue a €2 billion share buyback, and reiterated full‑year guidance while keeping its product and technology launch programme on track.