Mercedes cut its FY2024 guidance, citing weak economic activity and consumption in China. The company negatively revised its Cars adj. EBIT margin target range from 10-11% to 7.5-8.5%. As a result of the cut to the Cars margin target, Mercedes now expects group EBIT to be significantly below (>15%) 2023 (€19.7bn) and cash flow also to be significantly below (>25%) last year's number (€11.3bn).
