Tag: $Mercedes-Benz

German luxury car manufacturer Mercedes-Benz Group on Thursday reported a steep drop in full-year profit and warned of challenging times ahead, following a year marred by intense competition from Chinese rivals and global tariff costs.

Mercedes-Benz (MBGn.DE), reported declining sales for the third quarter on Tuesday, as U.S. import duties and intensifying competition in China dented the German luxury carmaker’s deliveries.

The pension trust of Mercedes-Benz will sell off its roughly $346 million shareholding, a 3.8% stake, in Nissan Motor, a spokesperson for the German carmaker said on Monday, adding to pressure on the Japanese automaker’s share price.

German carmaker Mercedes-Benz (OTC:MBGAF) said on Monday its second-quarter unit sales of cars and vans fell 9%, citing the impact of tariffs.

Lyft (NASDAQ:LYFT) is buying mobility platform FreeNow from German automotive giants BMW (ETR:BMWG) and Mercedes-Benz (OTC:MBGAF) for 175 million euros ($198.40 million) to expand into the European ride-hailing market, the U.S. company said on Wednesday.

Mercedes-Benz (MBGn.DE), opens new tab on Thursday announced further cost-cutting and more petrol and diesel cars than EVs in its new product range, in a bid to revive margins as the company braces for a sharp drop in earnings in 2025

Mercedes-Benz car sales fell 3% to 1.98 million vehicles in 2024 amid a challenging global market, with top-end vehicle sales weighed by market conditions in China, model changes and weak electric-vehicle demand.

Mercedes-Benz will step up cost cuts after earnings halved in the third quarter hit by tepid demand and fierce competition in China, it said on Friday.

Mercedes-Benz saw a slight drop in cars sales in the third quarter as weaker demand, particularly in Asia, outweighed improved product availability, the carmaker said on Thursday.

 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, the world’s largest.

Mercedes-Benz lowered its annual profit margin forecast after weak second quarter sales and earnings on Friday but expects new models to help it battle stiff competition in China in the second half of the year.

Mercedes-Benz Group raised its dividend despite posting a decline for fourth-quarter sales and net profit, and forecast lower earnings this year on geopolitical and macroeconomic uncertainty.

Mercedes-Benz shares fell Thursday as it reported lower profit and revenue and highlighted pricing challenges in the electric vehicle space.