Mercedes-Benz Financial News

Mercedes-Benz said a «brutal» electric vehicle market of heavy price cuts and supply chain issues meant it would likely hit the lower end of its 12-14% adjusted return on sales forecast for the cars division, as third-quarter earnings fell. The luxury carmaker said it remained committed to its EV targets, but could bolster earnings with better returns from its combustion engine portfolio if margins on EVs remained lower than previously assumed, its chief financial officer said on an analyst call. With some traditional players selling battery electric vehicles below the level of internal combustion engine cars despite their higher production costs, «this is a pretty brutal space,» Harald Wilhelm said. «I can hardly imagine the current status quo is fully sustainable for everybody,» he said. Discounts offered on some models in Germany in the fourth quarter did not represent an overall shift in the carmaker's pricing strategy of keeping prices high to focus on boosting margins over volume, Wilhelm said. Mercedes shares had slid more than 6% by 0733 GMT to their lowest in almost a year, and were the biggest fallers on the euro zone blue-chip index.

2024 Mercedes-Benz E-Class LWB boasts dimensions of 5,092 mm in length, 1,880 mm in width, and 1,493 mm in height, with a wheelbase spanning 3,094 mm. In comparison to its predecessor, it is 18 mm longer and 20 mm wider, with the 15 mm longer wheelbase primarily accounting for the 18 mm length increment. From an exterior perspective, the latest Mercedes-Benz E-Class LWB bears a striking resemblance to the standard wheelbase variant.

electric cars that are anticipated to launch in 2024, including the highly-anticipated all-electric G-Wagon off-roader.

BERLIN (Reuters) — A Stuttgart court on Thursday ruled that German automaker Mercedes-Benz (OTC:MBGAF) must pay damages for the instalment of illegal defeat devices in its diesel cars, the court said in a statement.

India will not chase volumes in electric vehicles, but will focus on creating an ecosystem for EVs such as lowering the cost of ownership, building charging infrastructure and offering a hassle-free experience that will likely help boost sales eventually, the company's top executive said. This is even as the company remains steadfast on meeting the mid-term target of EVs contributing 25% to its total sales by 2027, Mercedes-Benz India chief executive Santosh Iyer told ET. «For us, volume is not a strategy and it's the outcome of what we do. As a luxury brand, we are measured by customer experience and profitable growth. To achieve this, we need to be cautious about how we go about EVs. It must be a long-term strategy. That's our core strategy,» Iyer said. Reaffirming the trend that Mercedes buyers are up-trading to feature-rich, technology-packed models, sales of models priced above ₹1.5 crore (ex-showroom) grew 22% in the first nine months of 2023, accounting for a quarter of its total sales that expanded 11% to 12,768 cars.

Mercedes-Benz Research & Development India has renewed its lease for about 542,000 square feet of office space in Bengaluru. The R&D centre of the German automaker leased the space at Embassy Crest in Whitefield from Embassy Property Developments for 60 months with a 5% escalation every year.

In 2016, a Mercedes-Benz executive said that in developing autonomous vehicles (AVs), the company would prioritize the safety of its customers over that of bystanders and other drivers: “If you know you can save at least one person, at least save that one. Save the one in the car." The company probably did not expect the media backlash that ensued.

Mercedes-Benz India will not chase volumes in electric vehicles, but will focus on creating an ecosystem for EVs such as lowering the cost of ownership, building charging infrastructure and offering a hassle-free experience that will likely help boost sales eventually, the company’s top executive said. This is even as the company remains steadfast on meeting the mid-term target of EVs contributing 25% to its total sales by 2027, Mercedes-Benz India managing director and chief executive Santosh Iyer told ET. “For us, volume is not a strategy and it’s the outcome of what we do. As a luxury brand, we are measured by customer experience and profitable growth. To achieve this, we need to be cautious about how we go about EVs. It must be a long-term strategy. That’s our core strategy,” Iyer said.

Vision Mercedes-Maybach 6 was recently showcased in Mumbai on October 11. This all-electric aero coupe is truly a sight to behold. Despite its impressive length of 5,700 mm, the Maybach 6 accommodates only four passengers, paying homage to the elegant aero style coupes of the past, such as the iconic 300SL. Taking inspiration from the SL, the Maybach 6 features massive gullwing doors. The front end, spanning 2,100 mm wide, boasts LED wing lights, an imposing chrome grille, and an upright Mercedes-Benz logo. Its stunning Maybach red paintwork completes the picture. The rear end of the Maybach 6 is equally distinctive, with its extended round 'boat-tail' design, reminiscent of a luxury yacht. Stepping inside, the Maybach 6 offers a truly unique experience. Mercedes refers to it as the «360-degree lounge» as the cabin is designed as a wraparound cockpit with a large glass area. The minimalist front dash extends into a center console adorned with illuminated elements. Surprisingly, there are no touchscreens in the Maybach 6. Instead, driver-related data and geographical location are displayed on the entire windscreen, and various functions can be operated through gestures rather than physical controls.

Rich Lister Nick Politis will pocket $245 million from the sale of some privately owned car dealerships in Victoria to the ASX-listed group Eagers Automotive, in which he has a 27.6 per cent stake.

YouTube sensation, "Omi in a Hellcat," is facing a dramatic downfall as the US Marshals prepare to auction off his extravagant car collection, including a Power-Rangers-themed Lamborghini. Bill Omar Carrasquillo, the man behind the YouTube handle, was sentenced to five and a half years in prison for engaging in a complex criminal scheme involving piracy of cable TV, access device fraud, wire fraud, money laundering, and substantial copyright infringement.

Hyundai announced its plans to adopt Tesla's electric vehicle (EV) charging standards. This strategic decision positions Hyundai alongside other automotive giants such as Ford, General Motors, Honda, and Polestar, all seeking to provide their drivers access to Tesla's rapidly expanding supercharger network as the electric vehicle competition intensifies.

₹4 crore (ex-showroom, India). This exclusive model, the Mercedes-AMG G 63 Grand Edition, is available in limited quantities, with only 25 units allocated for India out of the total production of 1,000 units worldwide. However, it is important to note that Mercedes-Benz has imposed a restriction: you can only purchase this exclusive vehicle if you are already an owner of a Mercedes-Maybach, Mercedes-AMG, or an S-Class.

luxury SUV, the Mercedes-AMG G 63 Grand Edition, captivating the attention of automotive enthusiasts with its exclusive features and commanding road presence.

Audi expect sales momentum to continue in the ongoing festive season with demand remaining robust for high-end cars. With offtake remaining strong, the festive season push could even see the luxury car segment posting its highest ever volumes in a year in 2023.

FOX News co-host Judge Jeanine Pirro hits the East Coast to visit Rhode Island’s most extraordinary luxury hotel, Ocean House.

Robert Menendez and his wife, Nadine Menendez, with charges of bribery and extortion. The indictment alleges that Senator Menendez wielded his considerable influence to assist three individuals and the Egyptian government in exchange for lavish bribes.

NEW DELHI : Mercedes-Benz India Pvt. Ltd, the country’s largest luxury carmaker, will follow a top-down strategy with its electric vehicles (EVs) in alignment with its global plan to exit the “volume segment" play, and hopes to benefit from the fact that its rivals are launching EVs in more affordable price brackets, competing with mass-market players, a top company executive said.

The United States Soccer Federation is planning to build a national training center in Atlanta with financial support from Arthur Blank

“International" car shows have a more national flavor these days, but that doesn’t mean the format is dying. The North American International Auto Show launches this week in Detroit, hot on the heels of IAA Mobility in Germany last week. These were traditionally among the “big five" global car shows alongside those in Paris, Geneva and Tokyo, before the pandemic broke a tradition already under strain.

SEOUL—As North Korean leader Kim Jong Un traveled to Russia, he likely did so in the preferred manner of Pyongyang’s ruling family: cloaked in secrecy, self-protection and style. Kim, the third-generation dictator, plans to meet Russian President Vladimir Putin, state media from both countries said on Monday—the first official confirmation of the summit between the two leaders. The reports didn’t specify when or where specifically the exchange will take place.