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 @ISIDEWITHNewsEnvironmentDaily Discussion2024ChinaChina TariffsGermanyAutomotive industryCars•••2yrs ago

China Slowdown "Becomes A Nightmare" For Automakers

Mercedes-Benz shares in Germany tumbled on Friday after the luxury carmaker slashed its full-year profit outlook.

The company warned that further deterioration of the macroeconomic environment, specifically in China, was the primary reason vehicle demand softened.

"This affected the overall sales volume in China, including sales in the Top-End segment. Overall, the sales mix in the second half of 2024 is expected to remain unchanged versus the first half, and therefore weaker than originally expected," Mercedes wrote in a statement.

Just last week, BMW slashed its full-year earnings guidance, blaming the downturn in China and sliding EV sales.

Earlier this month, Volvo Cars offered a dismal outlook and no longer projected 100% all-electric vehicle sales by 2030.

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3 Replies

 @JealousP4rtisanRepublican from California  commented…2yrs2Y

MB and BMW are carefully beating around the bush instead of coming out and declaring the truth that bureaucratic EV mandates are killing them.

 @ISIDEWITHasked…2yrs2Y

Imagine if a product you've always dreamed of buying suddenly became too expensive due to issues in another country; how would that change your perception of global economy?

 @ISIDEWITHasked…2yrs2Y

Would you be willing to compromise on your dream car's features if it meant supporting a company struggling with international economic challenges?

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 @ISIDEWITH submitted…2yrs2Y

A Moment of Darkness': Washington Post's No-Endorsement Decision Ignites Media Firestorm

Even though the presidential race between former President Donald Trump and Vice President Kamala Harris is neck and neck, The Washington Post has decided not to make a presidential endorsement for the first time in 36 years, the publisher and CEO announced Friday."We are returning to our roots of not endorsing presidential candidates," Will Lewis wrote in an opinion piece published on the paper's website. He referenced the paper's policy in the decades prior to 1976, when, following the Watergate scandal that the Post broke, it endorsed Democratic nominee Jimmy Carter. The last time the Post did not endorse a presidential candidate in the general election was 1988, according to a search of its archives.Colleagues learned the news from the editorial page editor, David Shipley, at a tense meeting shortly before Lewis' announcement. The meeting was characterized by someone with direct knowledge of discussions on condition of anonymity to speak about internal matters.Shipley said that he told other editorial board leaders Thursday by management that there would be no endorsement, though he has known for weeks. He added that he "owns" this decision. The reason he cited was to create "independent space" where the newspaper does not tell people for whom to vote.Colleagues were said to be "shocked" and uniformly negative. Post corporate spokespeople have not responded to multiple messages left by NPR on the subject.Former Washington Post Executive Editor Martin Baron, who led the newsroom to acclaim during Trump's presidency, denounced the decision starkly."This is cowardice, a moment of darkness that will leave democracy as a casualty," Baron said in a statement to NPR. "Donald Trump will celebrate this as an invitation to further intimidate The Post’s owner, Jeff Bezos (and other media owners). History will mark a disturbing chapter of spinelessness at an institution famed for courage."A similar decision by Los Angeles Times owner Patrick Soon-Shiong led this week to the resignations of the paper's editorials editor and two editorial board members. Soon-Shiong said that he had asked the editorial board to draft a "factual analysis" of Trump and Harris' policies and plans. In her resignation letter, editorials editor Mariel Garza said the decision made the paper look “craven and hypocritical,” given its past reporting and editorials on Trump.

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