Stories from Stuttgart · Germany

Mercedes-Benz sales fell by 6 percent during the first three months of the current year. Wilhelm noted that order books remain well-filled, providing a foundation for momentum in the second half of the year. Mercedes-Benz reported a 17 percent decrease in profit before interest and taxes for the first quarter compared to the previous year. The Stuttgart-based automaker's profit fell to 1.9 billion euros. Revenue for the company also declined by 5 percent to 31.6 billion euros. The report follows a strong start to the year for Adidas, which maintains an optimistic outlook. Mercedes-Benz is struggling with weak sales figures, particularly in China where sales dropped by more than 25 percent at the start of the year. Increased US tariffs are also placing a burden on the manufacturer. The company aims to overcome this downturn with new vehicle releases by 2027.

The Baden-Württemberg state parliament is meeting this week to decide on changes to investigation committee procedures. The proposed changes would require a higher number of votes to initiate investigations.

A man suspected of being part of a sabotage and espionage group in Germany is scheduled for a detention hearing today.

Half of 100 surveyed German mayors identified costs as a primary challenge for municipal energy transitions. One third of mayors cited bureaucratic hurdles and nature conservation requirements as obstacles. Local politicians are seeking subsidies and refinancing to address these issues. The survey indicates that large-scale heat pumps are currently only available to 1% of the municipalities surveyed. A survey of 600 mayors across German municipalities examined local energy and infrastructure transitions. The survey also noted that only 3% of respondents reported progress in building district heating and large-scale heat pumps. The findings were released by the Initiative Kommunales Deutschland.

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.