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Mercedes car earnings plunge as China shuns luxury

(Reuters) — German premium automaker Mercedes-Benz (MBG.DE, MBGAF) on Friday said third-quarter earnings in the core car division plunged by 64%, massively missing analysts’ estimates, as Chinese consumers continued to cut back on luxury goods in a weakening economy. “The Q3 results do not meet our ambitions,” CFO Harald Wilhelm …

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