Stories from Stuttgart · Germany

Mercedes-Benz reported a profit decline of over 17 percent. The automotive business margin fell from approximately 7% to 4%. CFO Harald Wilhelm stated that order books remain well-filled, providing a foundation for the second half of the year. The company plans to launch more than 40 new models by 2027 to overcome the current low. Mercedes aims to significantly increase profits in 2026 and remains on track to meet its annual forecast. Mercedes-Benz reported a decrease in profit from 1.73 billion euros to 1.43 billion euros compared to the same period last year. The Kremlin press service noted the visit of Sa Sungest to another country following election as a context for business shifts. Total sales volumes were impacted by these regional market changes.

His successor, Cem Öztemir of the Green Party, is scheduled to be sworn in by the Landtag on May 13. The ceremony in Stuttgart is expected to include former Federal President Gauk and former SC Freiburg coach Christian Streich. The position of Minister-President will remain held by the Green Party. Cem Öztemir is scheduled to be sworn in as the new Minister-President of Baden-Württemberg on May 13. He succeeds Winfried Kretschmann, who is leaving office. Current Minister-President Kretschmann participated in the event, noting a long-standing exchange with Streich regarding socio-political issues. Streich was previously awarded the Order of Merit of the State in 2023. He succeeds Fried Kretschmann, who has governed the state since 2011. The transition marks a shift from the CDU, which held the position for several decades prior to Kretschmann.

A feasibility study from the Fraunhofer Institute for Interfacial Engineering and Biotechnology in Stuttgart indicates that biological processes like bio-leaching and bio-sorption can assist in recycling electronic waste.

Mercedes reported that earnings before interest and taxes fell by approximately 17 percent in the first quarter compared to the previous year. The company's EBIT for the period reached 1.9 billion euros. The report was discussed by BR24 in Munich. Revenue for the automaker fell by 5 percent to 31.6 billion euros. The company cited US tariffs and weak business in China as primary reasons for the decline. Passenger car sales in China dropped by nearly 25 percent at the start of the year due to intense competition and sluggish demand. CEO Ola Källenius recently noted the difficulty of operating in the world's largest automotive market during an auto show in Beijing. The company attributed the results to US tariffs and a nearly 25 percent drop in Chinese passenger car sales. Mercedes-Benz reported a sales decline of more than 25 percent in China at the start of the year.

Road construction companies in Germany are calling for improvements to existing fixed-price contracts signed in February. Firms argue that current market prices make those contracts impossible to fulfill. The price of bitumen has approximately doubled in a short period due to the war in Iran. The price of bitumen, a crude oil-based binder essential for asphalt, has approximately doubled since the start of the war in Iran. SWR economic reporter Michael Herr reported on the industry's alarm regarding these price surges.

Weakened growth projections for ChatGPT developer OpenAI have caused market uncertainty. This has placed downward pressure on chip and cloud computing stocks. Geopolitical risks from the Iran war continue to impact market sentiment. Oil prices remain elevated near the $100 mark.

Mercedes reported a profit decrease of 300 million euros during the first three months of the year compared to the same period last year. Mercedes-Benz reported a profit drop of over 17 percent, citing weak demand in China as the primary cause. The company also experienced a shortfall in revenue and overall deliveries. The report included a pre-tax loss, according to the source. The report noted that the first quarter was weaker than the already poor period of the previous year. An internal communication warned employees of difficult times ahead. CEO Blume stated the group lacks sufficient funds to sustainably finance the future of Volkswagen, though specific impacts on jobs and plants remain unclear. The company's earnings reached 1.43 billion. This follows a reported 7 percent increase in share value by 16 centesimi.

Cem Özdemir is expected to be elected as the Minister President of Baden-Württemberg on May 13. He served for 15 years, a tenure longer than any other German state head of government. A formal ceremony is being held to mark his departure. He is being honored with a formal ceremony in Stuttgart to mark the end of his term. Winfried Kretschmann is concluding his tenure as Minister President of Baden-Württemberg, having served in the role since 2011. A formal ceremony is expected to include former Federal President Gauck and former SC Freiburg coach Christian Streich. Kretschmann's leadership follows decades of CDU-led administrations in the state. CDU state leader Haageld expressed satisfaction with the process, stating a desire to solve people's problems and initiate reforms. The SPD lost the state election after 35 years in power.

Curator Hoffmann announced the opening of an exhibition at the Literaturhaus in Stuttgart.

Mercedes is reducing its global production capacity by more than 10 percent.