Mercedes-Benz Group AG (MBGAF)
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Mercedes shares slump over 6% after carmaker cuts 2024 guidance on weak China demand
Mercedes shares fell more than 8% Friday after the German carmaker cut its 2024 guidance on the back of weaker demand from China.
Mercedes-Benz sees more Indian buyers choosing EVs as first luxury car
Mercedes-Benz is seeing a rise in the number of Indian buyers opting for electric vehicles as their first luxury car, the country's managing director told Reuters, a trend that is helping the German carmaker boost their sales.
Mercedes teams up with Factorial to develop solid-state batteries
Mercedes-Benz and U.S. battery startup Factorial are working on a solid-state battery that should dramatically increase electric vehicle range and be ready for production by the end of the decade, the companies said on Tuesday.
South Korea antitrust regulator probes Mercedes-Benz local unit, says official
South Korea's antitrust regulator has launched a probe into the local unit of Mercedes-Benz, an official at the Korea Fair Trade Commission (KFTC) said on Tuesday, without elaborating.
Mercedes-Benz plans to jointly invest $2 bln in China, local media reports
Mercedes-Benz has plans to jointly invest over 14 billion yuan ($1.97 billion) in China with local partners to enrich local vehicle lineups, state-backed digital newspaper The Paper reported on Wednesday.
Europe's BEV Sector Slows Amid Economic & Regulatory Challenges
Battery-powered EV sales in Europe are taking a hit from reduced incentives, lack of affordable models and charging infrastructure concerns.
Mercedes-Benz chief in South Korea to meet residents after EV fire damaged property
The head of Mercedes-Benz in South Korea will meet on Wednesday residents of an apartment complex damaged by a fire that started in one of its electric vehicles (EVs) and burned for more than eight hours, stoking public safety fears.
Mercedes-Benz Q2 Earnings: Both High-Ticket And BEV Sales Falter
Mercedes-Benz Group AG's performance in 2024 so far shows BEV sales slipping, hybrid sales improving and van sales providing the best earnings contribution. The company's continuing investment in developing BEV architecture and solutions might attract some concern from investors, given falling EV sales globally. The company's eSprinter, which is scheduled to begin deliveries in H2 2024, might carry the day in terms of revenue performance.
Mercedes-Benz Group AG (MBGAF) Q2 2024 Earnings Call Transcript
Mercedes-Benz Group AG (OTCPK:MBGAF) Q2 2024 Results Conference Call July 26, 2024 2:00 AM ET Company Participants Steffen Hoffmann - Head of Investor Relations & Treasury Ola Kallenius - Chairman of the Management Board & CEO Harald Wilhelm - Chief Financial Officer Conference Call Participants Tim Rokossa - Deutsche Bank Stephen Reitman - Bernstein Patrick Hummel - UBS George Galliers - Goldman Sachs Jose Asumendi - JPMorgan Philippe Houchois - Jefferies Tom Narayan - RBC Steffen Hoffmann Good morning, ladies and gentlemen. This is Steffen Hoffmann speaking.
Mercedes warns weaker auto demand becoming ‘increasingly noticeable'
Mercedes has warned that weaker demand from customers is becoming “increasingly noticeable” after the German carmaker saw a decrease in automotive sales in the first half of 2024. Mercedes-Benz sold 959,700 units in the first six months, marking a 6% decrease compared to the same period in 2023.
Mercedes-Benz reports 27% drop in Q2 car earnings
Mercedes-Benz's on Friday reported a 27.5% fall in second-quarter adjusted earnings in its core car division as the German luxury automaker continues to struggle amid model changeover and a subdued market environment in Asia.
Slump in electric car demand hits Mercedes sales in Q2
Mercedes-Benz saw a 6% decline in sales in the second quarter as demand for battery-electric vehicles slumped, the carmaker said on Wednesday, promising to make up lost ground with improved availability and market launches.
