Earnings ExpectationsThe results of Mercedes-Benz (25.8% below consensus) and Financial Services (77.4% below consensus) were significantly below expectations.
Market EnvironmentThe persistently weak market environment in China has prompted the company to fully impair the at-equity book value of its Chinese JV 'BFDA', which has a one-time negative impact on adj. EBIT of the Trucks Asia segment of EUR 120m.
Sales PerformanceMercedes-Benz experienced a sequential drop in unit sales of around 6% compared to the previous quarter, which could negatively affect earnings.