Mercedes-Benz is expected to lower its profit expectations for its passenger car business due to declining demand and increasing competition from Chinese electric vehicle manufacturers. The company plans to adjust its targets by mid-February during its capital markets day, where it will also announce its annual financial results. Despite the anticipated decrease, Mercedes-Benz aims for a double-digit profit margin. The competition from Chinese brands, coupled with a cost of living crisis, has negatively impacted sales, particularly in China, where luxury purchases have declined. Teljes cikk (Euronews.com)