{"text":[[{"start":7.6,"text":"Mercedes-Benz has joined Volkswagen and BMW in cutting its annual forecast as a slowdown in the Chinese market hits the trio of German carmakers."}],[{"start":17.18,"text":"The Stuttgart-based company said on Tuesday that revenue would be “slightly” lower in 2026, down from a previous forecast that it would remain close to last year’s figure of €132.2bn."}],[{"start":29.72,"text":"The gloomier outlook reflected the tough market in China, where sales were dented by “intense competition, cautious consumer sentiment and ongoing model changes”, the company said."}],[{"start":39.36,"text":"German carmakers face a twin threat in the all-important Chinese market, where the impact of an industry-wide slowdown has been exacerbated as local manufacturers win market share."}],[{"start":51.2,"text":"Mercedes-Benz’s second-quarter sales fell 30 per cent from a year ago, overshadowing gains for the carmaker in the US and Europe."}],[{"start":59.16,"text":"The German company reported an increase in operating profits in the period, which rose from €1.3bn to €1.5bn. The figure, which was close to analysts’ expectations compiled by Visible Alpha, was bolstered by strong results in Mercedes-Benz’s van division and its financial services unit."}],[{"start":77.42,"text":"The warning from Mercedes comes after VW last week said it expected revenues to fall by up to 3 per cent this year, compared with an earlier forecast that they would rise by a similar amount."}],[{"start":88.36,"text":"BMW, which reports second-quarter results this week, has already cut its profit guidance for the year, blaming weakness in the Chinese market and the impact of the war in Iran."}],[{"start":98.44,"text":"As a result, BMW has accelerated the implementation of cost-saving measures and laid out plans for thousands of job cuts."}],[{"start":109.36,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1785224428_9046.mp3"}