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China auto market decline bigger than feared, Mercedes CEO says

By Reuters News

BERLIN, Nov 11 (Reuters) - The decline in China's automotive market has been even greater than feared at the start of the year, Mercedes-Benz MBGn.DE CEO Ola Kaellenius said at an industry conference in Berlin on Wednesday.

"This predictability no longer exists. It's not zero, but it's definitely less than it was 20 years ago," Kaellenius said at the event hosted by industry publication Automobilwoche.

The CEO pointed to data showing that China's auto market, the world's largest, slumped by 22% year to date, with an even sharper 30% fall in the premium luxury segment.

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