BERLIN—Mercedes-Benz expects strong demand for high-end cars to allow it to offset rising raw material and transport costs with higher prices, forecasting a pick-up in deliveries once chip shortages ease. While the German automaker’s high pricing strategy is in part based on its luxury products being scarce, it could have sold more vehicles in the…
Mercedes-Benz, Daimler Truck Say Cannot Confirm Talks on Russian Stake Sale
Daimler Truck and former parent Mercedes-Benz on Wednesday said they could not confirm talks on a possible sale of Mercedes-Benz’s stake in Russian vehicle and engine maker Kamaz to top shareholder Rostec, dismissing an earlier report. TASS news agency had cited Rostec CEO Sergey Chemezov as saying it was in talks with Mercedes-Benz to acquire…
Mercedes-Benz Puts 5,600 Workers on Vacation in Brazil Due to Chips Shortage
SAO PAULO—Mercedes-Benz Group will put more than five thousand workers on collective vacation in two plants in Brazil due to the shortage of semiconductor chips, the company said on Monday. The production stoppage will happen from April 18 to May 3 and includes 5,000 employees in the Sao Bernardo do Campo plant and 600 in…
Mercedes Takes on Tesla With New U.S. Battery Plant, Electric SUV
TUSCALOOSA, Ala.—Mercedes-Benz AG opened its first U.S. electric vehicle (EV) battery factory on Tuesday and said Japanese battery maker Envision AESC would supply battery modules for U.S.-made Mercedes EVs from a new U.S. plant by the middle of the decade. Alongside the launch of its Bibb County, Alabama battery plant, Mercedes also previewed a large…
Electric and Luxury Models Boost Mercedes-Benz Earnings
BERLIN—Mercedes-Benz will prioritize sales of top-end and electric vehicles in 2022 and deepen its relationship with chip producers, the carmaker said on Thursday, seeking more control over its supply chain amid an ongoing semiconductor shortage. The Mercedes-Benz Cars & Vans division more than doubled its annual adjusted earnings before interest and taxes (EBIT) to 13.9…
Mercedes-Benz to Double EV Sales in 2022, Solidify Supplier Relationship
BERLIN—Mercedes-Benz aims to double its electric vehicle sales in 2022 and expand its electrified car footprint in relevant markets worldwide, Chief Executive Ola Kaellenius said on Thursday in an earnings press conference. Chief Financial Executive Harald Wilhelm listed a series of challenges the carmaker expected to face this year, including uncertain geopolitical developments, the ongoing…
Mercedes-Benz Beats Profit Forecast, Sees Supply Chain Headwinds in 2022
February 11, 2022
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BERLIN—Mercedes-Benz Cars & Vans expects an adjusted earnings before interest and taxes (EBIT) of 14 billion euros ($15.9 billion) in 2021 and sees supply chain headwinds persisting into 2022, it said on Friday. The luxury carmaker predicted an adjusted return on sales of 12.7 percent in the full year, beating its own guidance of 10…
South Korea Fines Mercedes $16.9 Million Over Emission Rules Breach
SEOUL—South Korea’s antitrust regulator said on Monday it decided to fine German carmaker Mercedes-Benz and its Korean unit 20.2 billion won ($16.9 million) for false advertising tied to gas emissions of its diesel passenger vehicles. The Korea Fair Trade Commission (KFTC) said Mercedes had tampered with pollution mitigation devices by installing illegal software in its…
Mercedes Withdraws Appeal of Formula 1 Season Finale
ABU DHABI, UNITED ARAB EMIRATES—Mercedes ended the dispute over the Formula One season finale on Thursday when it withdrew its appeal of the controversial finish that cost Lewis Hamilton a record eighth championship. Mercedes had filed a pair of protests following Sunday’s race, in which a late crash at the Abu Dhabi Grand Prix helped…
Mercedes, Red Bull Play Nice Ahead of F1 Championship
ABU DHABI, UNITED ARAB EMIRATES—Toto Wolff and Christian Horner barely looked at each other when they sat side-by-side three weeks ago discussing the Formula One championship. Their frosty relationship thawed briefly Friday ahead of the Abu Dhabi Grand Prix, where seven-time champion Lewis Hamilton and Max Verstappen are tied in the points standings heading into the…
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