Mercedes-Benz to cut EV prices in the US, pause some deliveries as demand falters
Since President Donald Trump's spending bill earlier this month cut tax EV credits sooner than anticipated, analysts have warned that the U.S. EV market would underperform expectations this year.
During the pause, Mercedes will run down EQ inventories in the U.S. and also supply cars made in its plant in Tuscaloosa, Alabama.
The company also said it would cut the base price of its EQE and EQS sedan and SUV models in the U.S. between 4% and 16% starting with the 2026 model year, excluding delivery charges.
Mercedes CEO Ola Kaellenius told reporters on Wednesday that despite the slower trajectory, he expected U.S. consumers to buy more battery electric vehicles (BEVs) over time.
Presenting the company's second-quarter results, he said: "We don't believe that the BEV demand in the United States goes to zero: we still think that the medium to long-term adoption rate of BEVs in the U.S. will creep upwards."
The carmaker said in February that it would make more petrol and diesel cars than EVs in its new product range. It said it was targeting 19 new combustion engine models and 17 BEVs by the end of 2027, after its BEV sales dropped by a quarter last year.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
15 minutes ago
- Reuters
Novo Nordisk expands lawsuits against weight-loss drug compounders
Aug 5 (Reuters) - Danish drugmaker Novo Nordisk ( opens new tab said on Tuesday it has filed 14 new lawsuits in the United States against the sale of unapproved versions of semaglutide, the main ingredient in its popular weight-loss and diabetes drugs, Wegovy and Ozempic. The new lawsuits target pharmacies and telehealth companies producing compounded versions of semaglutide "under the fake guise of personalization", Novo said, without naming the companies. Shares of major telehealth firm Hims & Hers (HIMS.N), opens new tab extended losses to fall nearly 13% in afternoon trade. It had earlier reported weaker-than-expected quarterly revenue. A Reuters search of legal filings found some cases filed by Novo in California dated Aug. 4 but none regarding San Francisco-based Hims. Hims was not immediately available for comment. Compounders copy brand-name medicines that are in short supply by combining, mixing or altering drug ingredients to meet demand. These companies were briefly allowed to produce hundreds of thousands of compounded doses of Novo's obesity and diabetes drugs when the Food and Drug Administration said they were in short supply. When the agency later banned the sale of these copies, Hims and Hers shifted to creating versions of semaglutide in personalized doses not accessible through the branded manufacturers. Novo's lawsuits allege that telehealth providers violate state corporate practice of medicine laws by improperly influencing doctors' decisions and steering patients toward knockoff compounded "semaglutide" under the guise of personalized medicine. In reality, these are knockoffs that have not been approved as safe and effective and are often made with illicit foreign active pharmaceutical ingredients (API), Novo said. It did not immediately respond to a Reuters query on which companies were being named in the lawsuit.
Finextra
an hour ago
- Finextra
AmEx forms partnership with restaurant POS firm Toast
American Express (NYSE: AXP) and Toast (NYSE: TOST) today announced a strategic, multi-year partnership, focused on powering more personalized hospitality experiences across the vast network of Resy, Tock, and Toast restaurant locations in the United States to create better dining experiences that drive more guests to restaurants. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. The companies plan to build tools for restaurants to create more seamless and personalized hospitality experiences combining the power of Resy and Tock's guestbook capabilities and Toast's Digital Chits technology, which allows restaurant staff to easily view important customer information directly on Toast Go ® handhelds and POS terminals during service. In addition, both companies will explore opportunities to leverage Toast capabilities to offer differentiated benefits that enhance the guest and American Express® Card Member experience. This partnership also intends to give restaurants, wineries, cafes, and bars greater visibility by making their listings from Resy and Tock available on the Local by Toast app, alongside those using Toast Tables. The partnership builds on American Express' significant investments in dining to better serve restaurants, diners, and American Express Card Members and merchants. In 2024, American Express acquired dining technology platform Rooam to enable integrations with leading technology platforms, like Toast. The company also acquired reservation platform Tock, adding 7,000 new restaurants and other venues to the American Express Global Dining network, in addition to the 20,000 restaurants and venues available on Resy. Resy and Tock have continued to invest in innovation with the launches of the Resy Android app, Resy's Discover Tab, Notify Enhancements, and Guest Lifetime Value in the last year to help drive increased demand for restaurants. For over a decade, Toast has been the trusted partner for restaurants committed to excellence, striving to make every restaurant more successful and delivering intuitive, powerful solutions that truly make a difference. Recent Toast innovations underscore its commitment to empowering restaurants and superpowering hospitality. New features such as Digital Chits, Menu Upsells*, and Advertising* powered by ToastIQ, Toast's intelligence engine, provide restaurateurs with deeper insights into their operations, helping them make data-driven decisions to optimize efficiency and drive growth. 'Restaurants today deliver exceptional experiences with leaner teams and tighter margins, making intelligent, connected tools more essential than ever,' said Pablo Rivero, SVP, American Express Global Dining and CEO, Resy and Tock. 'American Express and Toast together can help our partners deliver smarter service and more meaningful connections with their guests to drive both loyalty and growth.' "At Toast, we are dedicated to helping the restaurant community thrive. By bringing together two leading companies around a shared vision for enhancing the dining experience, this partnership lays the foundation for finding more ways for restaurants to better serve guests," said Aman Narang, CEO and Co-Founder at Toast. "Through this collaboration, Toast will look to provide our expansive network and innovative technology, empowering restaurants to reach diners and drive guest demand. Working together, we look forward to unlocking added visibility for restaurants and enabling more personalized service, leading to more memorable-–and repeat—visits.' 'Our Card Members spent over $87 billion on dining in the U.S. alone in 2024. This partnership is a natural evolution of our investment in this growing category,' said Alex Drummond, EVP and GM, American Express Membership Portfolio Services. 'As an industry-leading restaurant technology platform, we believe that Toast will seamlessly complement American Express' premium dining experiences and world class dining network to help usher in a new era of dining.' Product features are anticipated to start rolling out in 2026, with both companies looking to explore technology that will power richer, more personalized hospitality for guests and Card Members, and help restaurants fill their dining rooms with high-value diners. *Indicates early release features. To try them, customers can go to the Toast Test Kitchen on Toast Shop. The use of the term 'partner' or 'partnering' in this release does not mean or imply a formal legal partnership and is not meant in any way to alter the terms of the relationship between American Express and Toast or their relationships with any third parties.
Auto Express
3 hours ago
- Auto Express
Car Deal of the Day: Ford Puma Gen-E is worth pouncing on for £220 a month
Great to drive; practical interior 234-mile range, very efficient Just £220 a month Electric cars cost too much money, right? Well, how about this, then? The electric version of the current best-selling new car so far in 2025, the Ford Puma, is now cheaper than its petrol equivalent. The new Ford Puma Gen-E is the pure-electric variant of the best-selling small electric SUV, and can be had for just £220 on the nose right now. Admittedly, it's only 87p a month cheaper than an entry-level Puma Titanium 1.0-litre EcoBoost petrol, but when you're on a budget, every penny counts, right? Advertisement - Article continues below This deal, via the Auto Express Find a Car service, is from Ford's very own UK dealer group, TrustFord. It's for two years and requires a modest £2,664 initial payment to get the ball rolling. Mileage, meanwhile, is capped at 5,000 a year, but this can be revised up to 8,000 per annum for just £19 extra a month. The Gen-E is the newest of Ford's admittedly rather young and fresh electric car range. It's also the smallest, and mixes all the great things about the petrol-powered Puma with the benefits of pure-electric power. There's just one powertrain on offer here – a 43kWh battery pack and a 166bhp electric motor. It's a punchy thing, too, with an eight-second sprint to 62mph, but still with a very decent 234-mile range. Better still, it's a very efficient car, with recent Auto Express tests netting a figure of 4.7 miles per kWh on average, and an urban-driving figure of up to six miles per kWh. While it's not quite as thrilling to drive as its petrol sister, the Gen-E is still easily one of the most engaging small electric SUVs. This deal gets you Select trim, which comes with 17-inch alloys, a heated windscreen, and wireless phone charging. The Car Deal of the Day selections we make are taken from our own Auto Express Find A Car deals service, which includes the best current offers from car dealers and leasing companies around the UK. Terms and conditions apply, while prices and offers are subject to change and limited availability. If this deal expires, you can find more top Ford Puma Gen-E leasing offers from leading providers on our Ford Puma Gen-E page. Check out the Ford Puma Gen-E deal or take a look at our previous Car Deal of the Day selection here… Find a car with the experts Volkswagen, Skoda and Cupra slash electric car prices Volkswagen, Skoda and Cupra slash electric car prices Volkswagen, Skoda and Cupra aren't waiting around for the government grant by cutting £1,500 from their EV prices Electric cars driven until they die: the truth about EV range Electric cars driven until they die: the truth about EV range Five EVs under £24k have joined Dacia's Spring on the UK market. How far can you go on a budget? We find out Car Deal of the Day: MGS5 EV for under £200 a month is a true bargain Car Deal of the Day: MGS5 EV for under £200 a month is a true bargain The ZS EV's replacement is an excellent small electric SUV, and our Deal of the Day for August 4
