German automaker Daimler will cut fixed costs, capex and R&D spending at Mercedes-Benz by more than 20% by 2025 as part of a strategy overhaul to take the brand further upmarket.
The move will see Mercedes-Benz, currently the world’s top selling premium car brand, turn its back on a decades-old strategy of chasing sales volume to focus on the industry’s most profitable segments: limousines and sport-utility vehicles.
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