Luxury Car Maker Mercedes-Benz to Cut Cost, Adopt New Strategy to Meet competition from China

High-end car maker Mercedes-Benz has decided to cut cost after its earnings have become half in the third quarter, new organisations have reported quoting officials on Friday. The demand of the luxury cars reported dipped amidst fierce competition from China. Falling Chinese car market too, is one of the reasons for the falling of the profit margin of the luxury car makers, the reports said.

The company is planning to adjust the strategy and adapt it to the new market conditions and competition from China, according to media reports. However, it will not get into price war.