Streetbeat News

MBGYY

Mercedes-Benz Group AG

https://www.daimler.com/

CEO

Ola Kaellenius

Open

14.10

Mkt cap

60B

Volume

73K

High

14.16

P/E Ratio

4.95

52-wk high

20.81

Low

13.75

Div yield

0.10

52-wk low

13.38

Germany's manufacturing sector is experiencing a significant downturn, with new orders falling by 5.8% in August, much more than the expected 2% drop. This decline could have global repercussions, affecting U.S. companies that do business with German firms. The iShares MSCI Germany ETF (EWG) and other European-focused ETFs have shown limited growth compared to U.S. markets.

Portfolio Pulse from Hayden Buckfire

October 07, 2024 | 3:32 pm

Mercedes-Benz, Toyota, and Mazda have issued recalls for vehicles due to software defects that pose risks such as fire, brake failure, and airbag issues. The recalls involve significant numbers of vehicles and will begin with notifications in late 2024.

Portfolio Pulse from Benzinga Neuro

September 27, 2024 | 12:13 pm

Volkswagen and other European automakers like BMW, Mercedes-Benz, Stellantis, and Renault are facing significant challenges, including underutilized factories and competition from Chinese EV makers like BYD. Volkswagen is considering plant closures, and Stellantis is halting production of its electric Fiat 500e due to declining demand. The European auto industry is struggling to compete with Chinese automakers, who are planning to establish factories in Europe to avoid tariffs.

Portfolio Pulse from Upwallstreet

September 20, 2024 | 2:06 pm

Tesla Inc. (NASDAQ:TSLA) saw a 24% drop in car registrations in California in Q2, marking the third consecutive quarter of decline. Increased competition and high interest rates are driving consumers towards hybrid vehicles. CEO Elon Musk's controversial public persona is also affecting Tesla's brand. Competitors like Hyundai, Kia, BMW, Mercedes-Benz, Ford, and Rivian saw sales increases. Tesla's stock has lost over 14% in the last 12 months, but shares are trading slightly higher in premarket.

Portfolio Pulse from Shivani Kumaresan

July 19, 2024 | 12:36 pm

Mercedes-Benz Group AG and Stellantis NV are in discussions with the Serbian government to invest in lithium-processing and EV battery production. This initiative aims to develop a comprehensive lithium industry in Serbia, reducing Europe's reliance on Asian imports. Despite a slowdown in EV adoption, this project could boost Serbia's economic growth and technological advancements.

Portfolio Pulse from Shivani Kumaresan

July 18, 2024 | 1:27 pm

Starbucks and Mercedes-Benz Group's High-Power Charging unit have announced a strategic collaboration to install 400 kW EV chargers at over 100 Starbucks locations along Interstate 5. This initiative aims to expand EV charging infrastructure and enhance the charging experience for drivers. Both companies are committed to reducing carbon emissions and promoting sustainable practices.

Portfolio Pulse from Shivani Kumaresan

July 17, 2024 | 4:14 pm

Germany and China are negotiating to prevent a tariff war on electric vehicles (EVs) that could impact carmakers in both regions. The EU's proposed tariffs on Chinese EVs could lead to retaliatory tariffs from China on EU-made cars, affecting luxury German brands. The U.S. has also increased tariffs on Chinese EVs, benefiting domestic carmakers.

Portfolio Pulse from Natan Ponieman

June 24, 2024 | 7:46 pm

Major automakers are targeting lithium supply from American Battery Technology Co. (ABAT) as the company develops one of the largest lithium deposits in the U.S. at its Tonopah Flats project. The company is also involved in battery recycling and has partnerships with BASF and the U.S. Advanced Battery Consortium. Automakers like Ford, GM, and Tesla are seeking lithium sources to meet the growing demand for electric vehicle batteries.

Portfolio Pulse from Matt Whittaker

June 24, 2024 | 2:18 pm

The United Auto Workers (UAW) union is pushing for a new election at the Mercedes-Benz plant in Alabama, alleging unfair labor practices influenced the initial vote. Mercedes-Benz denies these allegations, maintaining adherence to NLRB guidelines.

Portfolio Pulse from Benzinga Neuro

May 27, 2024 | 6:06 am

Lithium prices are showing signs of recovery as Chinese companies return to the market, ending a months-long slide. The increase in prices is expected to be gradual, unlike the 2022 spike. Despite tempered expectations for EV adoption due to high prices and other concerns, restocking in China and recent mine supply cuts are pushing prices higher. Key players like Sociedad Química y Minera de Chile (SQM), American Lithium Corp. (AMLI), Atlas Lithium Corp. (ATLX), and major automakers such as Ford (F), General Motors (GM), and Tesla (TSLA) are taking steps to secure long-term lithium supply.

Portfolio Pulse from Matt Whittaker

May 24, 2024 | 1:34 pm

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