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Mercedes-Benz profits plunge as German carmakers reel
Mercedes-Benz profits plunge as German carmakers reel

Mercedes-Benz said Thursday it planned hefty cost cuts after its 2024 profits plunged by almost a third amid a slump in China and weak electric car sales, as Germany's auto sector reels. German manufacturers all invested heavily in China in recent decades and came to rely on the world's biggest auto market for a hefty chunk of their sales and profits.

Renault revs up profitability in 2024
Renault revs up profitability in 2024

Renault confirmed on Thursday it defied headwinds in the car industry by boosting revenue and attaining record profitability in 2024 thanks to the success of its new line up of vehicles, although net profit sank as it scaled back its partnership with Nissan. However net profit sank to 800 million euros due to a 1.5-billion-euro loss it booked on the sale of Nissan shares.