Although the overall quarterly net profit, boosted by the van and financial services businesses, increased by 13.5% to 1.09 billion euros, the net profit in the main automotive division decreased by 26% to 909 million euros, said Mercedes, whose operations were negatively affected by competition in China.
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This figure does not include a non-cash write-down of 704 million euros that Mercedes included in the value of its investments in China, indicating that the company anticipates long-term difficulties in the world’s largest car market.
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