大中华区“掌门人”佟欧福首秀全球财报会 奔驰将在3年内推出超40款新车型

Core Viewpoint - Mercedes-Benz is focusing on long-term investment and local integration in China, aiming to enhance competitiveness rather than short-term sales battles [2][7]. Financial Performance - For the fiscal year 2025, Mercedes-Benz's revenue is projected to reach €132.2 billion (approximately ¥1.084 trillion), with an adjusted EBIT of €8.2 billion (approximately ¥67.236 billion), reflecting a 40% year-on-year decline [3]. - The free cash flow from industrial operations is expected to be €5.4 billion (approximately ¥44.28 billion) in 2025, increasing to €9.2 billion (approximately ¥75.44 billion) in 2024 [3]. Investment and R&D - Capital expenditures and R&D investments are set to peak in fiscal year 2025, with R&D costs at approximately €6.055 billion (approximately ¥49.65 billion), a year-on-year increase of 8.5% [4]. - Capitalized development costs are projected at €2.394 billion (approximately ¥19.63 billion), up 19.4%, while fixed asset investments will reach approximately €5.482 billion (approximately ¥44.95 billion), a 35.7% increase [4]. Market Strategy in China - China remains a core market for Mercedes-Benz, with a focus on optimizing the value chain and improving local profitability [7][8]. - The company plans to launch over 15 new and updated models in China in 2026, marking the most intensive product rollout in its history [9]. Sales and Profitability - In 2025, Mercedes-Benz's global sales are expected to be 2.16 million units, a 10% year-on-year decline, with approximately 575,000 units sold in China, down about 19% [5][6]. - The adjusted EBIT for the passenger car segment is projected to be €4.8 billion (approximately ¥39.36 billion) in 2025, with a sales profit margin of 5.0% [6][7]. Technological Advancements - Mercedes-Benz is enhancing its local technology collaborations, including the development of an advanced driver assistance system in partnership with Momenta [8][10]. - The company aims to integrate AI and advanced digital systems across its product lineup, with nearly all models expected to feature AI smart cabins and leading driver assistance systems within the next 12 to 18 months [10].