German automobile major Mercedes-Benz Group AG (MBG.DE) on Thursday reported that its third-quarter net profit fell 7 percent to 3.72 billion euros from last year's 4 billion euros.
Mercedes-Benz
forecast a subdued world economy with monetary policy weighing
on consumers even as supply chain issues and energy price
pressures eased, as it raised its group earnings outlook for.
BERLIN (Reuters) -Mercedes-Benz forecast a subdued world economy with monetary policy weighing on consumers but said supply chain issues and energy price pressures were easing, as it raised its group earnings outlook for the full-year. The supply chain was "noticeably improved", Mercedes-Benz said, in contrast to Porsche which said in results on Wednesday it was struggling weekly with supply chain problems particularly on key components for EVs. Still, the outlook for the Mercedes-Benz cars segment of 12%-14% returns on unit sales and revenue at prior level remained unchanged, but property, plant and equipment as well as research and development expenditures will rise, the company said.
Mercedes forecast in its outlook for the year that restrictive monetary policies and inflation in some countries could weigh on consumer demand and economic growth, but still raised its group earnings outlook amid a strong order intake.