为应对盈利危机，奔驰于今年初启动大规模成本削减计划，包括裁员逾1万人、缩减管理层规模及暂停部分研发项目。然 而，上述措施未能抵消销量下滑带来的冲击。细分业务中，高端车型销量相对稳健，但入门级车型及电动车表现低迷，尤 其在欧美市场面临特斯拉及中国品牌的激烈竞争。此外，汇率波动和原材料价格上涨进一步挤压利润空间。 专业人士指出，奔驰的业绩颓势反映传统车企在行业变革中的普遍困境。尽管奔驰强调将加速电动化布局并优化燃油车产 品线，但市场对其短期复苏信心不足。受财报影响，奔驰股价当日下跌3.5%，年内累计跌幅已超20%。行业预测，若下半 年消费环境未改善，奔驰全年利润或面临十年来首次亏损。 梅赛德斯-奔驰集团近日发布2025年上半年财报，1至6月，奔驰实现销售收入726亿欧元，同比下滑8.6%；税后净利润仅27 亿欧元，较去年同期锐减55.8%，创下近五年同期最差表现。奔驰称，全球市场需求疲软、电动化转型成本高企及供应链问 题持续拖累业绩。 ...

Core Insights - Mercedes-Benz Group reported a revenue of €72.6 billion for the first half of 2025, representing a year-on-year decrease of 8.6% [1] - The company's net profit after tax was €2.7 billion, showing a significant decline of 55.8% compared to the previous year [1] - The company announced large-scale layoffs and cost-cutting measures earlier this year [1]

（原标题：奔驰突发，净利暴跌69%！股价跳水） 【导读】奔驰净利润暴跌69%，股价跳水 中国基金报记者 安曼 奔驰再度暴跌！ 净利润暴跌69% 7月30日，奔驰发布的最新财报显示，二季度，奔驰营业收入为331.5亿欧元，同比下跌9.8%；息税前利 润同比下跌68.56%至12.7亿欧元，上年同期为40.4亿欧元。 公司将业绩下滑归因于关税、销量下降、定价疲软以及合资企业的贡献减少。 奔驰发出警告称，由于关税打击了其轿车和货车的销售，预计集团今年全年的营收将大幅低于去年。此 前，公司曾表示，由于关税引发的市场波动，其无法提供具有必要确定性的财务指引。 7月27日，美国和欧盟达成协议，将对从欧洲运往美国的汽车征收15%的关税。这比欧洲汽车制造商自4 月份以来支付的27.5%的关税大幅下降，但仍显著高于拜登任期内2.5%的关税水平。 奔驰在华加速"瘦身" 今年以来，奔驰在中国的4S店接连关闭。 3月底，据《新民晚报》报道，有消费者收到奔驰4S店发来的短信，其中提到：因业务调整，上海宝利 德汽车有限公司的梅赛德斯-奔驰授权将于2025年3月24日终止，若尚未使用或兑换的奔驰原厂保养服务 套餐，可通过任何一家授权门店继 ...

Core Viewpoint - Mercedes-Benz's stock has significantly declined, with a drop of 3.19% leading to a market capitalization below €50 billion, reflecting worsening financial performance and market challenges [1][3]. Financial Performance - In Q2, Mercedes-Benz reported a net profit decrease of 69% to €957 million compared to the previous year [3]. - The company's revenue for Q2 was €33.15 billion, down 9.8% year-on-year, while EBIT fell by 68.56% to €1.27 billion from €4.04 billion in the same period last year [4]. Market Challenges - The decline in performance is attributed to tariffs, decreased sales, weak pricing, and reduced contributions from joint ventures [4]. - Mercedes-Benz warned that due to tariffs impacting car and truck sales, the group's annual revenue is expected to be significantly lower than last year [5]. Tariff Impact - A recent agreement between the U.S. and EU will impose a 15% tariff on cars imported from Europe, a reduction from the previous 27.5%, but still higher than the 2.5% tariff during Biden's term [5]. Operational Adjustments in China - Mercedes-Benz is closing several dealerships in China, with reports indicating over 100 dealer reductions planned [6][7]. - In Q2, the company's sales in China fell by 19% to 140,400 units, contributing to a total sales decline of 9% globally to 453,700 units [7][8]. - The shift in consumer preference towards more affordable domestic electric vehicles is impacting Mercedes-Benz's sales in China [8].

梅赛德斯-奔驰集团警告称，由于关税打击了其轿车和货车的销售，预计今年全年的营收将大幅低 于去年。这家德国豪华汽车制造商此前曾表示，由于关税引发的市场波动，其无法提供具有必要确定性 的财务指引。该公司周三表示，目前预计2025年的汽车销量将比去年大幅减少。 ...

梅赛德斯CFO：我们看到美国市场需求处于健康状态，零售方面我们看到了进一步的机会。 ...

梅赛德斯-奔驰集团今年第二季度销售额331.5亿欧元，同比下降9.8%，预估332.3亿欧元；调整后息税前 利润19.9亿欧元，同比下降51%，预估15.9亿欧元；净利润9.57亿欧元，同比下降69%，预估12.9亿欧 元。 梅赛德斯-奔驰表示，第二季度汽车息税前利润受关税、销量下降、净定价放缓及增效措施影响。 ...

梅赛德斯-奔驰集团第二季度调整后息税前利润19.9亿欧元，同比-51%，预估15.9亿欧元。 ...

智通财经7月30日电，梅赛德斯-奔驰集团第二季度销售额331.5亿欧元，预估332.3亿欧元。 ...

Core Insights - The Chinese luxury car market is experiencing a significant shift, with domestic high-end brands gaining market share and challenging traditional luxury brands [2][12][15] - In the first half of 2025, the total sales of luxury cars in China are projected to be around 1.6 million units, showing a slight decline of 5%-7% year-on-year, while domestic high-end brands report a growth of approximately 35% [2][14] - The key factor driving this change is the increasing importance of "intelligent features" in consumer decision-making, with brands that excel in smart technology gaining a competitive edge [2][16] Domestic High-End Brands Performance - Domestic high-end brands achieved total sales of approximately 920,000 to 950,000 units in the first half of 2025, marking a significant increase and filling the gap left by declining traditional luxury brands [14][15] - Notable performers include Li Auto with 208,000 units, AITO with 206,000 units, and a combined total of over 250,000 units from brands like NIO, Xpeng, and Xiaomi in the 300,000 yuan and above segment [14][15] - BYD leads the industry with total sales of 2.146 million units, including around 120,000 units from high-end models [14] Traditional Luxury Brands Performance - Traditional luxury brands, particularly the German trio (BBA: Benz, BMW, Audi), are experiencing significant declines in sales, with Benz down 14.2%, BMW down 19.6%, and Audi down 15% in the first half of 2025 [5][6][7] - Lexus stands out as the only traditional luxury brand showing growth, with sales of 85,000 units, maintaining its position as the top-selling imported luxury brand for five consecutive years [5][6] - The super-luxury segment is also facing challenges, with brands like Porsche and Bentley reporting declines of 28% and significant drops in sales across other super-luxury brands [10][11] Market Dynamics and Consumer Behavior - A shift in consumer preferences is evident, with buyers prioritizing technology and practicality over brand prestige, leading to increased demand for vehicles equipped with advanced smart features [16] - Policy changes, such as the adjustment of consumption tax for super-luxury cars, have raised costs for high-priced models, further impacting sales of traditional luxury brands [11][16] - The competitive landscape is evolving, with domestic brands leveraging local supply chains and rapid software updates to position "smart luxury" as a core selling point [3][16]