Daimler to cut fixed costs, capex over 20% by 2025; take Mercedes upmarket

By Edward Taylor FRANKFURT (Reuters) - 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. Chief Executive Ola Kaellenius told investors that compact vehicles.....

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