Daimler To Cut Fixed Costs By More Than 20 Per Cent By 2025
Reuters
1 min read
Oct 06, 2020, 11:03 PM
Daimler on Tuesday said it will cut fixed costs, capex and research and development expenditure by more than 20% by 2025 compared with 2019 levels as part of a strategy overhaul to reposition Mercedes-Benz as a luxury brand.
By 2025, Mercedes-Benz AG is aiming for a return on sales within a mid to high single-digit range, even under unfavourable market conditions, the carmaker said.
The company's ambition is to achieve a double-digit margin in a strong market environment, Daimler said.
Earlier this year, Mercedes-Benz stopped building sedans in the United States to focus on more profitable SUV's, combined its fuel cell development with Volvo Trucks, and halted an automated development alliance with BMW.
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