MBGYY Stock Recent News

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 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'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.

ATLANTA--(BUSINESS WIRE)--Yesterday, Mercedes-Benz USA (MBUSA) and Safe Kids Worldwide, one of its national nonprofit partners, launched a new children's book, Clifford Takes a Ride, in collaboration with Scholastic. The book follows the journey of Clifford the Big Red Dog and gives readers essential tips to stay safe in and around vehicles. MBUSA and Safe Kids Worldwide will distribute 30,000 free copies of the book to families across the country through Mercedes-Benz dealerships and Safe Kids.

ATLANTA--(BUSINESS WIRE)--Mercedes-Benz USA (MBUSA) today reported Q2 2024 group* sales of 84,662 Passenger Cars. Additionally, Mercedes-Benz Vans reported Q2 2024 sales of 10,934 units, bringing MBUSA to a total of 95,596 vehicles for the quarter. “The industry and our dealer partners have navigated a challenging second quarter, but I'm very proud of our dealer partners' unwavering focus on serving Mercedes-Benz's valued customers. Stronger availability of models propelled Q2 passenger car gro.

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.

Mercedes-Benz inaugurated a development and production centre for battery cells on Monday at its headquarters in Germany, in a move to take greater control of the chemical composition and industrial manufacturing of its batteries.

Mercedes-Benz is investing more than previously planned in combustion engine technology, including 14 billion euros ($15 billion) this year on its passenger cars, its chief executive told German publication Wirtschaftswoche.

Source: Streetwise Reports 06/18/2024

The European Commission will apply additional duties of up to 38.1% on imported China-made electric cars from July, a move that Beijing is likely to retaliate against.