Mercedes-Benz Group AG

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Mercedes-Benz Group AG engages in the business of manufacturing and distributing premium cars. It operates through the following segments: Mercedes-Benz Cars, Mercedes-Benz Vans, and Mercedes-Benz Mobility. The Mercedes-Benz Cars segment includes the brands Mercedes-AMG, Mercedes-Maybach, and Mercedes-EQ. The Mercedes-Benz Vans segment focuses on selling vans under the Mercedes-Benz brand. The Mercedes-Benz Mobility segment is involved in supporting the sales of the vehicle brands. The company was founded by Gottlieb Daimler and Carl Benz in 1926 and is headquartered in Stuttgart, Germany.

Mercedes-Benz Group AG (OTCPK:MBGAF) Q3 2023 Earnings Call Transcript October 26, 2023 2:00 AM ET Company Participants Steffen Hoffmann - Head of Investor Relations and Treasury Harald Wilhelm - Chief Financial Officer Conference Call Participants George Galliers - Goldman Sachs Group Patrick Hummel - UBS Tim Rokossa - Deutsche Bank Jose Asumendi - JPMorgan Horst Schneider - Bank of America Stephen Reitman - Societe Generale Henning Cosman - Barclays Harald Hendrikse - Citi Operator Welcome to the Global Conference Call of Mercedes-Benz. At our customers' request, this conference will be recorded.

Mercedes-Benz Group AG (MBGAF) Q3 2023 Earnings Call Transcript

The German carmaker said it had faced intense price competition, particularly in electric vehicles.

Mercedes-Benz shares fall 6% as profit falls; CFO bemoans 'brutal' EV pricing

STUTTGART, Germany--(BUSINESS WIRE)--Mercedes-Benz Group AG (ticker symbol: MBG) achieved solid third-quarter results in a subdued market environment marked by intense price competition, particularly in the electric vehicle segment. Earnings Before Interest and Taxes (EBIT) reached €4.8 billion (Q3 2022: €5.2 billion) as improved net pricing at Mercedes-Benz Cars and a rise in sales of premium vans helped to partially offset higher inflation, currency effects and supply-chain related costs. Rev.

Mercedes-Benz Group Solid Q3 Results Underscore Resilience in a Subdued Market Environment

Mercedes-Benz expects the adjusted return on sales of its cars division for the full year to hit the lower end of its 12-14% forecast, the company said on Thursday, as it reported a drop in third-quarter earnings due partly to lower deliveries.

Mercedes-Benz expects to hit lower end of returns forecast for cars division

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A Stuttgart court on Thursday ruled that German automaker Mercedes-Benz must pay damages for the instalment of illegal defeat devices in its diesel cars, the court said in a statement.

Court orders Mercedes to pay damages over diesel defeat devices

Mercedes Benz Group AG's luxury strategy is worth keeping an eye on in spite of the carmaker reporting weaker sales in the third quarter of the year, Citigroup analysts say. Though top-end sales were down 11% over the three months to September, alongside a 4% fall in overall passenger vehicles, Citi reiterated backing for Merecedes' luxury push.

Mercedes' luxury strategy key in boosting value - analysts

ATLANTA--(BUSINESS WIRE)--Mercedes-Benz USA (MBUSA) today reported Q3 2023 sales of 71,098 Mercedes-Benz models. Additionally, Mercedes-Benz Vans reported Q3 2023 sales of 18,913 units, bringing MBUSA to a total of 90,011 vehicles for the quarter. As part of its electric product offensive, MBUSA introduced five Electric Vehicles (EQ) to the Mercedes-Benz electric line-up, including EQS Sedan, EQS SUV, EQB, EQE Sedan and the EQE SUV. Strong, sustained demand for EQ and Top-End Vehicles propelled.

Mercedes-Benz USA reports Q3 2023 total sales of 90,011 vehicles

Sales of Mercedes-Benz cars dipped slightly in the third quarter with a steeper drop in China and the United States on model changes and lack of parts, the carmaker said on Tuesday.

Mercedes-Benz sales dip slightly in Q3 on model changes, lack of parts

FORT LAUDERDALE, Fla..--(BUSINESS WIRE)--Haig Partners LLC served as the exclusive sell-side advisor to Rod McGeorge on the sale of Mercedes-Benz of Richmond and Mercedes-Benz of Midlothian, located in greater Richmond, Virginia, to Murgado Automotive Group. This announcement comes on the heels of the recently announced sale of McGeorge Toyota. The McGeorge family of dealerships has been serving the Richmond, Virginia area for more than 60 years. Initially formed as The David R. McGeorge Car Co.

Haig Partners Served as the Exclusive Sell-Side Advisor on the Sale of Mercedes-Benz of Richmond and Mercedes-Benz of Midlothian

After soaring to a 2023 high of over $15 per share in early August, US-listed shares of electric vehicle (EV) manufacturer Nio (NYSE: NIO) have experienced a sharp decline, nearly halving in value since then.

Nio stock price prediction as company eyes major EV deal with Mercedes

Mercedes-Benz has seen significant growth since 2020, with a 118.18% increase in stock price. The company remains profitable with a strong business model and high margins. There are concerns about the long-term implications of changes in the business model and potential impact on the company's appeal.

Mercedes-Benz: Superb Returns, But Cloudy Future (Rating Downgrade)

Nio Inc, the Chinese electric vehicle (EV) startup, held exploratory talks with Mercedes-Benz, which would involve the German automaker investing in Nio in exchange for its technology and its research and development (R&D) capabilities, Reuters reported, citing people with direct knowledge of the matter.  The media outlet noted the talks did not get as far as discussion on details on the technology to be transferred and the potential financial investment, with one source saying it was highly unlikely the partnership would proceed.

Nio held investment, tech sharing talks with Mercedes-Benz: report

Nio (NYSE: NIO ) stock is on the move Thursday as reports claim the electric vehicle (EV) company is in talks with Mercedes-Benz (OTCMKTS: MBGYY ). According to insiders who spoke with R euters about the matter, the two companies have been holding exploratory talks.

NIO Stock Alert: Nio Allegedly Is in Talks With Mercedes-Benz

Nio has held exploratory talks with Mercedes-Benz for a tie-up that would see the German automaker invest in the Chinese electric vehicle startup in exchange for technology, two people with direct knowledge of the matter said.

Exclusive: China's Nio explores investment, tech alliances with Mercedes - sources

German carmaker Mercedes-Benz has applied for tax breaks for potential projects at two of its U.S. plants under the Inflation Reduction Act (IRA), a company spokesperson said on Monday.

Mercedes applies for tax relief for projects at two U.S. plants

Mastercard

Mastercard has launched an in-car payment partnership aimed at Mercedes drivers in Germany. The collaboration will let customers use a fingerprint sensor in their car to make digital payments at more than 3,600 service stations in Germany, the companies announced Monday (Sept.

Mercedes and Mastercard Debut Fingerprint Payment Offering in Germany

STUTTGART, Germany & PURCHASE, N.Y.--(BUSINESS WIRE)--Mercedes-Benz customers in Germany can now start the fueling process directly from their vehicle and pay digitally by fingerprint. Eliminating the need to enter a PIN or authenticate via mobile device, drivers can now leverage convenient payments to enhance the in-vehicle experience. The native in-car payment service via Mercedes pay+ will turn the car into a form of payment device and can be used to make payments at service stations using t.

Mercedes-Benz Teams up With Mastercard to Introduce Native In-Car Payments at the Pump: Pay by Fingerprint Directly in the Car With Mercedes pay+

Manufacturers expect levy agreed in Brexit deal to hand chunk of market to global firms, including China

Carmakers call on EU to delay 10% tariff on electric vehicle exports

Mercedes-Benz has seen strong growth in return on sales across the Vans segment. I see the company as being in a good place to bolster earnings from here. I take a bullish view on Mercedes-Benz.

Mercedes-Benz: Encouraging Return On Sales Growth Across Vans Segment

The United Auto Workers (UAW) union said on Wednesday that 190 workers went on strike at Mercedes-supplier ZF's plant in Alabama, demanding higher pay and better healthcare benefits.

UAW workers strike at Mercedes supplier ZF's plant in Alabama

Steel Dynamics

STUTTGART, Germany--(BUSINESS WIRE)--Mercedes-Benz signs an agreement with Steel Dynamics, Inc. (SDI) to source more than 50,000 tonnes of CO2-reduced steel annually for its plant in Tuscaloosa, Alabama, marking another crucial milestone towards decarbonizing its global steel supply chain. SDI steel will be made using an electric arc furnace (EAF) and will use electricity from 100% renewable sources. With EAFs powered by green electricity, emissions can be reduced more than half to 1.0-tonne CO.

Mercedes-Benz AG and Steel Dynamics Inc. secure sustainable steel supply deal for Tuscaloosa plant

Mercedes-Benz could face another wave of recalls after German transport authority KBA deemed inadmissible defeat devices installed in some of its vehicles, in a letter leaked by a whistleblower to environmental NGO Deutsche Umwelthilfe (DUH).

Mercedes-Benz threatened with recalls of Euro 6 cars over defeat devices

Any change in taxation in India will change the structure of the fuel mix in Mercedes-Benz India portfolio, the automaker said on Tuesday in response to a proposal for an additional 10% tax on diesel vehicles.

Mercedes says change in India tax on diesel vehicles will affect fuel mix portfolio

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News for Mercedes-Benz Group AG Stock (MBGYY)