Mercedes-Benz Group AG shares fell the most in four years after a deepening slowdown in China prompted the world’s biggest luxury-car maker to cut its outlook.

Top-end German carmakers have joined expensive French handbags among the products hit by weak consumer sentiment in the country.

German auto giant Mercedes-Benz is recalling more than half a million cars in China due to a technical defect. The Chinese market regulation authority said on Friday that the company has presented a recall plan which is due to take effect from November 27.