Mercedes-Benz cut its full-year profit margin target for the second time in less than two months, hitting European auto stocks as it joined a growing number of rivals that are blaming a weakening Chinese car market,

Mercedes-Benz Group shares fell 8% on Friday after the German carmaker made another cut to its full-year guidance, citing a slowdown in car sales caused by a slump in China’s economy.

The German luxury carmaker said the move was triggered by the further deterioration of the macroeconomic environment, specifically in China.