German car manufacturer Mercedes-Benz suffered a profit slump in the third quarter due to weakness in the crucial Chinese market. The results released on Friday plummeted by about half, primarily because the business with passenger cars was disappointing due to intense competition in China and the generally weak economic situation. “The financial results of the third quarter do not meet the standards we set for ourselves at Mercedes-Benz,” chief financial officer Harald Wilhelm said in a statement. The aim is to focus even more on costs and efficiency, he said. Already in September, management…