Mercedes has more profit despite problems in China
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The car company Mercedes has new numbers. The firm makes more profit in the second quarter. This is the time from April to June. The profit grows by 13 percent. This is much money. One reason is a plan to save money. Mercedes spends less money on offices. Vans and money services bring much money. Mercedes sells more electric cars in Europe.
There are problems in the car business. The profit for cars drops by 26 percent. Business is bad in China. Sales drop by 30 percent there. Many firms sell cars in China. Other firms are cheap. Mercedes loses much money because of China. Sales of the whole firm drop a little bit.
Mercedes wants to save more money because of the crisis. Boss Ola Källenius wants more work. Workers must do more. Many people protest against this plan. Thousands of people stand at the factories. They fear for their jobs. Other German car firms like VW have problems too. All firms search for ways out of the crisis.
There are problems in the car business. The profit for cars drops by 26 percent. Business is bad in China. Sales drop by 30 percent there. Many firms sell cars in China. Other firms are cheap. Mercedes loses much money because of China. Sales of the whole firm drop a little bit.
Mercedes wants to save more money because of the crisis. Boss Ola Källenius wants more work. Workers must do more. Many people protest against this plan. Thousands of people stand at the factories. They fear for their jobs. Other German car firms like VW have problems too. All firms search for ways out of the crisis.
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Definitions
- Quarter
- A quarter is a time of 3 months. One year has 4 quarters.
- Sales
- Sales mean the amount of goods a firm sells.
People
- Ola Källenius
- Ola Källenius is the boss of the car firm Mercedes.
Locations
- China
- China is a big country in Asia and an important market for cars.
- Europe
- Europe is a continent where many people live.
Sources
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