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Mercedes-Benz is weighing whether to withdraw some of its cheapest cars from the US market, including the GLA SUV, as it braces for a potential hit from President Donald Trump's proposed 25% auto tariffs, Bloomberg reported. The German carmaker has not made a final decision but is reviewing contingency plans, sources told the outlet.
Mercedes-Benz is considering withdrawing its least expensive cars from the US because President Donald Trump's auto tariffs would likely make their sales economically unfeasible, according to people familiar with the matter. Kailey Leinz reports.
Mercedes-Benz Group is considering withdrawing its least expensive cars from the U.S. as President Donald Trump's auto tariffs would potentially harm their sales, Bloomberg News reported on Tuesday, citing sources.
Ten car manufacturers, including BMW and Ford , and two trade bodies have reached a settlement with the UK's competition regulator to pay 77.7 million pounds ($100.43 million) in a fine after admitting to breaking competition law in relation to vehicle recycling, Competition and Markets Authority said on Tuesday.
The commission said that 16 major car manufacturers and the ACEA entered into what it called anticompetitive agreements for almost 15 years.
The European Commission issued on Tuesday a fine amounting to about 458 million euros ($494.64 million) to 15 major car manufacturers and the European Automobiles Manufacturers' Association for participating in a cartel regarding end-of-life vehicle recycling.
Mercedes-Benz is ramping up its USÂ inventory to get ahead of a 25% tariff on imported vehicles set to take effect from April 3, according to Reuters, citing analyst notes from a recent investor call. Executives told analysts the company is building stock both at dealerships and at the wholesale level in anticipation of the added costs.
Mercedes-Benz is building up inventory levels in the U.S. at the wholesale level and at dealer lots to get ahead of tariffs due to be collected from April 3, executives told analysts on a call on Monday, according to notes by analysts.
Under President Trump's new auto tariffs, even the company's made-in-USA vehicles aren't American enough to avoid levies.
European carmakers are trying to work out how much their prices might have to rise in response to looming U.S. import tariffs, industry sources said, fearing any first-movers could risk a backlash from U.S. President Donald Trump.