Mercedes-Benz reported a 54% year-on-year drop in profits for Q3, with net profit falling to €1.7bn from €3.7bn. Revenue decreased by 7% to €34.5bn. The company's EBIT in its car division dropped 64%. CFO Harald Wilhelm acknowledged the results did not meet expectations and cited weaker macroeconomic conditions and competition, particularly in Asia, as contributing factors. The company anticipates a slight decline in full-year sales but expects positive momentum from new luxury models in the upcoming quarter. Teljes cikk (Euronews.com)