奔驰开启最大规模裁员，中国市场从“增长极”变“修罗场”？

Core Viewpoint - Mercedes-Benz is undergoing its largest-ever layoff, aiming for approximately 30,000 voluntary departures, which represents about 10% of its global indirect workforce, in response to significant challenges in the luxury automotive sector, including slow electrification, high costs, and increased competition [1][2][4] Group 1: Layoff Strategy - The layoff plan features a "high compensation + voluntary exit" strategy, with severance packages linked to employee rank and tenure, offering up to €500,000 for senior management [2][4] - The initiative aims to save approximately €5 billion annually by 2027 through layoffs, outsourcing, and not filling vacancies, with a target of reducing production and fixed costs by 10% [2][4] Group 2: Market Performance - Mercedes-Benz's global sales for Q3 2025 were 525,300 units, a 12% year-over-year decline, and a 9% drop in cumulative sales for the first three quarters [4][5] - The company is facing intense competition in the Chinese market, where it still leads among luxury brands, but growth has stagnated, and it is being pressured by new entrants like BYD and NIO [4][5][10] Group 3: Electrification Challenges - The company plans to launch 36 new models by 2027, including 17 electric vehicles, but currently, electric vehicle sales account for less than 20% of total sales [5][6] - Mercedes-Benz's electric vehicle business has not yet achieved profitability, with gross margins declining from 12.3% in 2021 to 8.7% in 2024 [6][7] Group 4: Competitive Landscape - The traditional luxury automotive model is becoming a burden in the electric vehicle era, as high costs and complex management structures hinder competitiveness [6][7] - Competitors like Tesla have significantly reduced manufacturing and sales costs, maintaining a gross margin above 18%, while Mercedes struggles with a heavier cost structure [6][7] Group 5: Technological Lag - Mercedes-Benz is falling behind in key areas such as smart driving and software-defined vehicles, with its MBUX system lagging in updates and functionality compared to competitors [7][9] - The company's L3 autonomous driving system is limited in application and high in cost, while rivals have achieved broader commercial deployment of their systems [9] Group 6: Strategic Importance of China - China was once a major growth engine for Mercedes-Benz, accounting for nearly one-third of global sales in 2020, but is now a highly competitive market [10] - The company is launching seven "China-exclusive models" to cater to local consumer preferences, reflecting its reliance on the Chinese market [10] Group 7: Future Outlook - The layoffs are part of Mercedes-Benz's "2025 strategy" and "Electric First" plan, aiming to streamline operations and regain market competitiveness [10] - The success of the layoff strategy and subsequent restructuring will determine whether Mercedes can create globally competitive electric smart vehicles by 2027 [10]