Aurora Business

“If you are a person who doesn’t have a lot of wealth to start from … then when emergencies hit, that often causes someone to lean on debt to get through those periods,” Chan says. “Then once someone takes debt, if they don’t have wealth, they’re much more vulnerable if something happens when they’re trying to pay off their debt.”

The maker of Mercedes-Benz luxury cars said Thursday that its earnings this year faced the burden of “very high” expenditure on new models and technologies such as battery-powered cars. Like the rest of the industry, the company is positioning itself for an anticipated shift to autonomous driving and to transportation services such as car-sharing and ride-hailing through smartphone apps.