Daimler to cut costs by 20%, will focus on going even more upscale

Filed under: Earnings/Financials,Mercedes-Benz,Luxury

Daimler said on Tuesday 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 more upmarket as a luxury brand. The company’s ambition is to achieve a double-digit return on sales margin by doubling sales of Maybach branded cars, and ramping up sales of AMG and G-Wagon derivatives of the Mercedes brand, Daimler said. "We will pursue higher portfolio profitab

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Daimler to cut costs by 20%, will focus on going even more upscale originally appeared on Autoblog on Tue, 6 Oct 2020 10:52:00 EDT. Please see our terms for use of feeds.

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