BERLIN—Mercedes-Benz Group AG, the German luxury car maker, saw net profit fall nearly a fifth in the first three months of the year because of higher costs, including expenses related to the suspension of business in Russia in the wake of the war in Ukraine.
The Stuttgart-based auto maker of Mercedes-Benz branded cars and vans said on Wednesday that business throughout the year would be impacted by the continuing shortage of semiconductors, rising raw-materials prices, continued disruptions from the Covid-19 pandemic, especially in China, and new volatility in supply chains from the war.
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