Mercedes-Benz (MBGn.DE) posted a higher profit in the second quarter helped by tough cost cuts, pushing its shares up on Tuesday, but intense Chinese competition dented the outlook for car sales and revenue.
The results were a rare respite for investors in the German automotive sector, which has been battered by mounting tariff costs and intensifying competition from Chinese rivals, prompting Volkswagen , Mercedes and BMW (BMWG.DE) to accelerate cuts.
